Massachusetts Financial Services Co. MA raised its holdings in Raytheon (NYSE:RTN) by 14.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,823 shares of the aerospace company’s stock after buying an additional 353 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Raytheon were worth $609,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in RTN. Bray Capital Advisors bought a new stake in Raytheon in the first quarter valued at approximately $113,000. Global Trust Asset Management LLC bought a new stake in Raytheon in the fourth quarter valued at approximately $136,000. Certified Advisory Corp bought a new stake in Raytheon in the fourth quarter valued at approximately $174,000. Risk Paradigm Group LLC increased its stake in shares of Raytheon by 120.9% during the fourth quarter. Risk Paradigm Group LLC now owns 963 shares of the aerospace company’s stock worth $181,000 after purchasing an additional 527 shares during the period. Finally, Obermeyer Wood Investment Counsel Lllp bought a new position in shares of Raytheon during the fourth quarter worth approximately $206,000. Hedge funds and other institutional investors own 72.71% of the company’s stock.
A number of brokerages have recently weighed in on RTN. Cowen reiterated a “buy” rating and set a $235.00 target price on shares of Raytheon in a research note on Tuesday, April 17th. Zacks Investment Research lowered Raytheon from a “buy” rating to a “hold” rating in a research note on Thursday, April 12th. Morgan Stanley lowered their target price on Raytheon from $245.00 to $238.00 and set an “overweight” rating on the stock in a research note on Thursday, April 12th. Credit Suisse Group reiterated a “neutral” rating and set a $219.00 target price (down previously from $250.00) on shares of Raytheon in a research note on Tuesday. Finally, ValuEngine upgraded Raytheon from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $220.45.
In related news, Director Stephen J. Hadley sold 1,000 shares of the stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $209.23, for a total transaction of $209,230.00. Following the sale, the director now owns 9,524 shares of the company’s stock, valued at $1,992,706.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Anthony F. O’brien sold 10,503 shares of the stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $214.17, for a total value of $2,249,427.51. Following the sale, the chief financial officer now directly owns 35,328 shares in the company, valued at approximately $7,566,197.76. The disclosure for this sale can be found here. Insiders have sold 38,969 shares of company stock worth $8,323,643 in the last three months. 0.19% of the stock is currently owned by company insiders.
Shares of NYSE:RTN opened at $211.14 on Thursday. The company has a market cap of $61.46 billion, a P/E ratio of 27.71, a P/E/G ratio of 1.88 and a beta of 0.70. Raytheon has a 1 year low of $158.32 and a 1 year high of $229.75. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.52 and a current ratio of 1.62.
Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, April 26th. The aerospace company reported $2.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.10 by $0.10. The business had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.21 billion. Raytheon had a return on equity of 22.69% and a net margin of 8.40%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.74 earnings per share. analysts anticipate that Raytheon will post 9.87 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, May 10th. Investors of record on Wednesday, April 11th were given a dividend of $0.8675 per share. The ex-dividend date of this dividend was Tuesday, April 10th. This represents a $3.47 dividend on an annualized basis and a yield of 1.64%. This is an increase from Raytheon’s previous quarterly dividend of $0.80. Raytheon’s dividend payout ratio is currently 45.54%.
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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