Mercer Global Advisors Inc. ADV Acquires New Stake in Raytheon (NYSE:RTN)

Mercer Global Advisors Inc. ADV acquired a new position in shares of Raytheon (NYSE:RTN) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 8,259 shares of the aerospace company’s stock, valued at approximately $1,504,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Athena Capital Advisors LLC bought a new stake in Raytheon in the fourth quarter valued at about $26,000. Sontag Advisory LLC bought a new stake in Raytheon in the fourth quarter valued at about $26,000. WP Advisors LLC bought a new stake in Raytheon in the first quarter valued at about $26,000. Bremer Trust National Association bought a new stake in Raytheon in the fourth quarter valued at about $33,000. Finally, Laurel Wealth Advisors LLC acquired a new position in Raytheon in the fourth quarter valued at approximately $34,000. Institutional investors own 74.93% of the company’s stock.

A number of equities analysts have commented on the company. Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a research note on Wednesday, April 17th. UBS Group downgraded Raytheon from a “buy” rating to a “neutral” rating and decreased their target price for the company from $220.00 to $200.00 in a research note on Wednesday, April 3rd. ValuEngine upgraded Raytheon from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. Argus reiterated a “buy” rating and set a $200.00 price objective on shares of Raytheon in a research report on Friday, February 1st. Finally, Wolfe Research set a $205.00 price objective on Raytheon and gave the stock a “buy” rating in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $209.69.

In other Raytheon news, VP Anthony F. O’brien sold 9,656 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $181.06, for a total value of $1,748,315.36. Following the transaction, the vice president now owns 34,057 shares of the company’s stock, valued at $6,166,360.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Michael J. Wood sold 427 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $177.58, for a total value of $75,826.66. Following the completion of the transaction, the vice president now directly owns 13,165 shares in the company, valued at approximately $2,337,840.70. The disclosure for this sale can be found here. Insiders sold 14,062 shares of company stock valued at $2,544,079 over the last 90 days. 0.18% of the stock is currently owned by insiders.

RTN traded up $0.29 during trading on Friday, reaching $180.00. The stock had a trading volume of 1,307,320 shares, compared to its average volume of 1,808,096. The company has a market capitalization of $51.11 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 1.40 and a beta of 0.96. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.31. Raytheon has a 1-year low of $144.27 and a 1-year high of $214.76.

Raytheon (NYSE:RTN) last released its earnings results on Thursday, April 25th. The aerospace company reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.32. The firm had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.58 billion. Raytheon had a return on equity of 26.27% and a net margin of 11.11%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.20 earnings per share. Equities analysts expect that Raytheon will post 11.61 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Shareholders of record on Wednesday, April 10th were given a $0.9425 dividend. This represents a $3.77 dividend on an annualized basis and a yield of 2.09%. This is an increase from Raytheon’s previous quarterly dividend of $0.87. The ex-dividend date was Tuesday, April 9th. Raytheon’s dividend payout ratio is 35.53%.

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About Raytheon

Raytheon Company develops integrated products, services, and solutions for the defense and other government markets worldwide. It operates through five segments: Integrated Defense Systems (IDS); Intelligence, Information and Services (IIS); Missile Systems (MS); Space and Airborne Systems (SAS); and Forcepoint.

Further Reading: 52-Week High/Low

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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