Northwest Bancshares Inc. increased its stake in shares of Raytheon (NYSE:RTN) by 8.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,646 shares of the aerospace company’s stock after buying an additional 796 shares during the quarter. Raytheon accounts for about 0.9% of Northwest Bancshares Inc.’s investment portfolio, making the stock its 14th largest position. Northwest Bancshares Inc.’s holdings in Raytheon were worth $2,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently bought and sold shares of the stock. Lipe & Dalton acquired a new stake in Raytheon during the 1st quarter valued at $108,000. Bray Capital Advisors acquired a new stake in Raytheon during the 1st quarter valued at $113,000. Global Trust Asset Management LLC acquired a new stake in Raytheon during the 4th quarter valued at $136,000. Litman Gregory Asset Management LLC acquired a new stake in Raytheon during the 1st quarter valued at $167,000. Finally, Certified Advisory Corp acquired a new stake in Raytheon during the 4th quarter valued at $174,000. Institutional investors and hedge funds own 72.71% of the company’s stock.
Shares of Raytheon traded down $2.79, reaching $202.68, during trading on Thursday, Marketbeat.com reports. 2,110,522 shares of the company were exchanged, compared to its average volume of 1,848,227. The company has a quick ratio of 1.52, a current ratio of 1.62 and a debt-to-equity ratio of 0.46. Raytheon has a twelve month low of $159.46 and a twelve month high of $229.75. The stock has a market cap of $61.06 billion, a PE ratio of 26.60, a price-to-earnings-growth ratio of 1.87 and a beta of 0.69.
Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, April 26th. The aerospace company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.10. Raytheon had a return on equity of 22.69% and a net margin of 8.40%. The business had revenue of $6.27 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same period in the previous year, the firm earned $1.74 earnings per share. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. analysts expect that Raytheon will post 9.87 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 2nd. Investors of record on Wednesday, July 11th will be paid a dividend of $0.8675 per share. The ex-dividend date is Tuesday, July 10th. This represents a $3.47 dividend on an annualized basis and a dividend yield of 1.71%. Raytheon’s dividend payout ratio (DPR) is presently 45.54%.
RTN has been the subject of a number of recent analyst reports. Morgan Stanley raised their price target on Raytheon from $224.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Zacks Investment Research cut Raytheon from a “buy” rating to a “hold” rating in a report on Monday, March 12th. Barclays started coverage on Raytheon in a report on Thursday, March 29th. They set an “equal weight” rating and a $239.00 price target for the company. ValuEngine raised Raytheon from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, Cowen reissued a “buy” rating and issued a $235.00 target price on shares of Raytheon in a research note on Tuesday, April 17th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $220.23.
In related news, CAO Michael J. Wood sold 523 shares of Raytheon stock in a transaction on Thursday, March 29th. The stock was sold at an average price of $214.30, for a total transaction of $112,078.90. Following the completion of the sale, the chief accounting officer now directly owns 15,773 shares of the company’s stock, valued at $3,380,153.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Michael J. Wood sold 621 shares of Raytheon stock in a transaction dated Monday, June 4th. The stock was sold at an average price of $212.13, for a total value of $131,732.73. Following the transaction, the chief accounting officer now owns 14,462 shares in the company, valued at $3,067,824.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,328 shares of company stock valued at $6,681,734. 0.19% of the stock is owned by insiders.
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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