Sonora Investment Management LLC raised its stake in Raytheon (NYSE:RTN) by 7.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,489 shares of the aerospace company’s stock after purchasing an additional 1,782 shares during the period. Sonora Investment Management LLC’s holdings in Raytheon were worth $4,459,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of RTN. Oregon Public Employees Retirement Fund boosted its holdings in Raytheon by 8,792.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,674,238 shares of the aerospace company’s stock worth $63,000 after purchasing an additional 9,565,442 shares during the last quarter. Norges Bank purchased a new position in Raytheon during the fourth quarter worth about $439,572,000. Standard Life Aberdeen plc boosted its holdings in Raytheon by 64.9% during the third quarter. Standard Life Aberdeen plc now owns 1,950,068 shares of the aerospace company’s stock worth $403,010,000 after purchasing an additional 767,198 shares during the last quarter. Millennium Management LLC boosted its holdings in Raytheon by 237.8% during the fourth quarter. Millennium Management LLC now owns 1,004,199 shares of the aerospace company’s stock worth $153,994,000 after purchasing an additional 706,918 shares during the last quarter. Finally, Pendal Group Ltd boosted its holdings in Raytheon by 1,423.0% during the fourth quarter. Pendal Group Ltd now owns 736,834 shares of the aerospace company’s stock worth $100,947,000 after purchasing an additional 688,455 shares during the last quarter. Hedge funds and other institutional investors own 75.81% of the company’s stock.
In other Raytheon news, VP Michael J. Wood sold 427 shares of the business’s stock in a transaction that occurred 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 owns 13,165 shares of the company’s stock, valued at approximately $2,337,840.70. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Frank R. Jimenez sold 4,094 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $183.89, for a total transaction of $752,845.66. Following the completion of the transaction, the vice president now directly owns 36,964 shares of the company’s stock, valued at approximately $6,797,309.96. The disclosure for this sale can be found here. In the last three months, insiders sold 21,657 shares of company stock valued at $3,940,619. Corporate insiders own 0.19% of the company’s stock.
Several research analysts recently weighed in on RTN shares. Argus restated a “buy” rating and set a $200.00 price target on shares of Raytheon in a report on Friday, February 1st. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $205.00 price target on the stock in a report on Wednesday. Citigroup dropped their target price on shares of Raytheon from $230.00 to $208.00 and set a “buy” rating on the stock in a research note on Monday, January 14th. ValuEngine raised shares of Raytheon from a “sell” rating to a “hold” rating in a research report on Thursday, January 24th. Finally, UBS Group lowered shares of Raytheon from a “buy” rating to a “neutral” rating and lowered their price target for the company from $220.00 to $200.00 in a research report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $212.23.
Raytheon stock traded down $0.27 during midday trading on Wednesday, reaching $182.09. 210,876 shares of the stock were exchanged, compared to its average volume of 1,773,530. The company has a current ratio of 1.46, a quick ratio of 1.37 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $51.47 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 1.39 and a beta of 0.99. Raytheon has a 52 week low of $144.27 and a 52 week high of $229.75.
Raytheon (NYSE:RTN) last posted its earnings results on Thursday, January 31st. The aerospace company reported $2.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.89 by $0.04. The business had revenue of $7.36 billion for the quarter, compared to analyst estimates of $7.50 billion. Raytheon had a net margin of 10.75% and a return on equity of 25.81%. During the same quarter in the prior year, the firm posted $2.03 EPS. Research analysts forecast that Raytheon will post 11.59 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Wednesday, April 10th will be paid a $0.9425 dividend. This represents a $3.77 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Tuesday, April 9th. This is a boost from Raytheon’s previous quarterly dividend of $0.87. Raytheon’s payout ratio is currently 35.53%.
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Raytheon Company develops integrated products, services, and solutions for 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.
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