Bluestein R H & Co. Sells 22,961 Shares of Raytheon (RTN)

Bluestein R H & Co. lessened its stake in shares of Raytheon (NYSE:RTN) by 7.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 275,622 shares of the aerospace company’s stock after selling 22,961 shares during the quarter. Raytheon comprises about 3.3% of Bluestein R H & Co.’s holdings, making the stock its 4th biggest holding. Bluestein R H & Co. owned 0.10% of Raytheon worth $59,485,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of RTN. Fort Point Capital Partners LLC raised its position in Raytheon by 20.6% in the 4th quarter. Fort Point Capital Partners LLC now owns 1,369 shares of the aerospace company’s stock valued at $257,000 after purchasing an additional 234 shares during the last quarter. Heritage Investors Management Corp raised its position in Raytheon by 1.7% in the 4th quarter. Heritage Investors Management Corp now owns 15,259 shares of the aerospace company’s stock valued at $2,866,000 after purchasing an additional 260 shares during the last quarter. Diamant Asset Management Inc. raised its position in Raytheon by 2.9% in the 1st quarter. Diamant Asset Management Inc. now owns 9,605 shares of the aerospace company’s stock valued at $2,073,000 after purchasing an additional 270 shares during the last quarter. Timber Hill LLC raised its position in Raytheon by 8.2% in the 4th quarter. Timber Hill LLC now owns 3,663 shares of the aerospace company’s stock valued at $688,000 after purchasing an additional 277 shares during the last quarter. Finally, OLD Dominion Capital Management Inc. raised its position in Raytheon by 11.1% in the 1st quarter. OLD Dominion Capital Management Inc. now owns 2,828 shares of the aerospace company’s stock valued at $610,000 after purchasing an additional 283 shares during the last quarter. Institutional investors and hedge funds own 72.71% of the company’s stock.

Shares of Raytheon opened at $211.14 on Thursday, according to Marketbeat. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.52 and a current ratio of 1.62. The firm has a market capitalization of $61.46 billion, a price-to-earnings ratio of 27.71, a PEG 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.

Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, April 26th. The aerospace company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.10. The company had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $6.21 billion. Raytheon had a net margin of 8.40% and a return on equity of 22.69%. Raytheon’s revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.74 EPS. equities research analysts expect that Raytheon will post 9.87 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 10th. Stockholders of record on Wednesday, April 11th were paid a dividend of $0.8675 per share. The ex-dividend date was Tuesday, April 10th. This is a boost from Raytheon’s previous quarterly dividend of $0.80. This represents a $3.47 dividend on an annualized basis and a dividend yield of 1.64%. Raytheon’s dividend payout ratio is 45.54%.

In other news, Director Stephen J. Hadley sold 1,000 shares of the company’s stock in a transaction on Tuesday, May 15th. The shares were sold at an average price of $209.23, for a total transaction of $209,230.00. Following the transaction, the director now directly owns 9,524 shares of the company’s stock, valued at approximately $1,992,706.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Rebecca R. Rhoads sold 12,054 shares of the company’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $212.09, for a total transaction of $2,556,532.86. Following the transaction, the vice president now directly owns 26,266 shares in the company, valued at $5,570,755.94. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,969 shares of company stock worth $8,323,643. Corporate insiders own 0.19% of the company’s stock.

RTN has been the subject of several research reports. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $244.00 price target for the company in a research report on Wednesday, April 11th. Cowen reiterated a “buy” rating and issued a $235.00 price target on shares of Raytheon in a research report on Tuesday, April 17th. Morgan Stanley upped their price target on shares of Raytheon from $224.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Sanford C. Bernstein upped their price target on shares of Raytheon from $231.00 to $255.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Finally, Wolfe Research upgraded shares of Raytheon from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 8th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $220.45.

About Raytheon

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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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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