LS Investment Advisors LLC raised its position in shares of Raytheon Company (NYSE:RTN) by 0.6% during the second quarter, Holdings Channel reports. The institutional investor owned 14,938 shares of the aerospace company’s stock after buying an additional 95 shares during the period. LS Investment Advisors LLC’s holdings in Raytheon were worth $2,412,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. James Investment Research Inc. boosted its position in Raytheon by 0.6% in the first quarter. James Investment Research Inc. now owns 68,346 shares of the aerospace company’s stock worth $10,422,000 after buying an additional 381 shares in the last quarter. GHP Investment Advisors Inc. acquired a new position in Raytheon during the first quarter worth approximately $204,000. Capstone Asset Management Co. boosted its position in Raytheon by 7.7% in the first quarter. Capstone Asset Management Co. now owns 72,253 shares of the aerospace company’s stock worth $11,019,000 after buying an additional 5,179 shares in the last quarter. Woodstock Corp boosted its position in Raytheon by 1.3% in the first quarter. Woodstock Corp now owns 24,243 shares of the aerospace company’s stock worth $3,697,000 after buying an additional 306 shares in the last quarter. Finally, Banced Corp boosted its position in Raytheon by 6.0% in the first quarter. Banced Corp now owns 2,995 shares of the aerospace company’s stock worth $457,000 after buying an additional 169 shares in the last quarter. Hedge funds and other institutional investors own 74.75% of the company’s stock.
Shares of Raytheon Company (NYSE:RTN) opened at 169.37 on Friday. Raytheon Company has a 12 month low of $132.89 and a 12 month high of $169.49. The firm has a 50-day moving average price of $163.55 and a 200-day moving average price of $155.62. The stock has a market cap of $49.30 billion, a price-to-earnings ratio of 21.82 and a beta of 0.58.
Raytheon (NYSE:RTN) last announced its quarterly earnings results on Thursday, April 27th. The aerospace company reported $1.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.12. The company had revenue of $6 billion for the quarter, compared to analyst estimates of $5.83 billion. Raytheon had a net margin of 9.41% and a return on equity of 20.45%. Raytheon’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the business earned $1.43 EPS. Equities analysts expect that Raytheon Company will post $7.48 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 3rd. Shareholders of record on Wednesday, July 5th will be issued a $0.7975 dividend. The ex-dividend date is Friday, June 30th. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.88%. Raytheon’s dividend payout ratio (DPR) is presently 41.16%.
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A number of research analysts recently commented on RTN shares. Cowen and Company reiterated a “buy” rating and issued a $170.00 price objective on shares of Raytheon in a report on Monday, April 10th. Royal Bank Of Canada reiterated a “buy” rating and issued a $180.00 price objective on shares of Raytheon in a report on Friday, March 24th. Vetr cut Raytheon from a “buy” rating to a “hold” rating and set a $166.27 price objective on the stock. in a report on Tuesday, May 9th. Jefferies Group LLC reiterated a “buy” rating and issued a $172.00 price objective on shares of Raytheon in a report on Monday, June 26th. Finally, Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $175.00 price objective on the stock in a report on Monday, May 1st. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $168.45.
In other Raytheon news, VP Wesley D. Kremer sold 1,010 shares of Raytheon stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $163.10, for a total value of $164,731.00. Following the transaction, the vice president now owns 23,136 shares in the company, valued at approximately $3,773,481.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Thomas A. Kennedy sold 10,703 shares of Raytheon stock in a transaction on Monday, June 5th. The shares were sold at an average price of $162.05, for a total transaction of $1,734,421.15. Following the completion of the transaction, the chairman now owns 61,671 shares in the company, valued at approximately $9,993,785.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,911 shares of company stock worth $2,580,752. 0.19% of the stock is owned by company insiders.
Raytheon Company Profile
Raytheon Company is a technology company, which specializes in defense and other government markets. The Company develops integrated products, services and solutions in various markets, including sensing; effects; command, control, communications, computers, cyber and intelligence; mission support, and cybersecurity.
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