Roosevelt Investment Group Inc. increased its position in Raytheon Company (NYSE:RTN) by 0.2% during the first quarter, Holdings Channel reports. The institutional investor owned 9,561 shares of the aerospace company’s stock after buying an additional 20 shares during the period. Roosevelt Investment Group Inc.’s holdings in Raytheon were worth $1,458,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the company. Lockheed Martin Investment Management Co. bought a new position in Raytheon during the first quarter worth about $1,830,000. 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. bought a new position in Raytheon during the first quarter worth about $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. 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. Institutional investors and hedge funds own 74.83% of the company’s stock.
Raytheon Company (NYSE:RTN) traded down 0.06% during midday trading on Friday, hitting $174.03. 112,214 shares of the stock were exchanged. The company’s 50 day moving average is $165.60 and its 200-day moving average is $157.06. Raytheon Company has a 1-year low of $132.89 and a 1-year high of $174.60. The stock has a market cap of $50.51 billion, a PE ratio of 24.04 and a beta of 0.59.
Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.74 by $0.15. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The firm had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.24 billion. During the same period last year, the firm posted $2.38 earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year. On average, analysts expect that Raytheon Company will post $7.58 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Wednesday, July 5th were paid a $0.7975 dividend. This represents a $3.19 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Friday, June 30th. Raytheon’s payout ratio is 43.94%.
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RTN has been the subject of a number of research analyst reports. Cowen and Company reiterated a “buy” rating and set a $170.00 price objective on shares of Raytheon in a research report on Monday, April 10th. Vetr cut shares of Raytheon from a “buy” rating to a “hold” rating and set a $166.27 price objective for the company. in a research report on Tuesday, May 9th. Jefferies Group LLC restated a “buy” rating and issued a $172.00 price target on shares of Raytheon in a research report on Monday, June 26th. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $175.00 price target for the company in a research report on Monday, May 1st. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $181.00 price target on shares of Raytheon in a research report on Friday, June 2nd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Raytheon has a consensus rating of “Buy” and an average price target of $175.14.
In related news, VP Taylor W. Lawrence sold 2,756 shares of Raytheon stock in a transaction on Monday, June 5th. The shares were sold at an average price of $162.04, for a total value of $446,582.24. Following the transaction, the vice president now directly owns 53,285 shares of the company’s stock, valued at $8,634,301.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Wesley D. Kremer sold 1,010 shares of Raytheon stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $163.10, for a total transaction of $164,731.00. Following the completion of the transaction, the vice president now directly owns 23,136 shares in the company, valued at $3,773,481.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,911 shares of company stock worth $2,580,752. 0.19% of the stock is owned by insiders.
About Raytheon
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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