Natixis reduced its holdings in Raytheon (NYSE:RTN) by 0.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 51,737 shares of the aerospace company’s stock after selling 436 shares during the quarter. Natixis’ holdings in Raytheon were worth $11,121,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its holdings in Raytheon by 2.0% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 42,187 shares of the aerospace company’s stock worth $7,925,000 after purchasing an additional 807 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in Raytheon by 68.5% in the fourth quarter. Valeo Financial Advisors LLC now owns 2,777 shares of the aerospace company’s stock worth $522,000 after purchasing an additional 1,129 shares in the last quarter. Employees Retirement System of Texas increased its holdings in Raytheon by 7.2% in the first quarter. Employees Retirement System of Texas now owns 111,200 shares of the aerospace company’s stock worth $23,999,000 after purchasing an additional 7,500 shares in the last quarter. BlackRock Inc. increased its holdings in Raytheon by 6.2% in the fourth quarter. BlackRock Inc. now owns 21,240,939 shares of the aerospace company’s stock worth $3,990,111,000 after purchasing an additional 1,237,648 shares in the last quarter. Finally, LPL Financial LLC increased its holdings in Raytheon by 1.9% in the fourth quarter. LPL Financial LLC now owns 118,839 shares of the aerospace company’s stock worth $22,324,000 after purchasing an additional 2,171 shares in the last quarter. Institutional investors and hedge funds own 72.71% of the company’s stock.
Shares of Raytheon opened at $201.53 on Friday, Marketbeat.com reports. The company has a market cap of $58.22 billion, a P/E ratio of 26.45, a P/E/G ratio of 1.79 and a beta of 0.69. 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 has a 12-month low of $159.46 and a 12-month high of $229.75.
Raytheon (NYSE:RTN) last announced its earnings results on Thursday, April 26th. The aerospace company reported $2.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 return on equity of 22.69% and a net margin of 8.40%. Raytheon’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.74 earnings per share. research analysts predict that Raytheon will post 9.87 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 2nd. Investors of record on Wednesday, July 11th will be given a dividend of $0.8675 per share. The ex-dividend date is Tuesday, July 10th. This represents a $3.47 annualized dividend and a dividend yield of 1.72%. Raytheon’s payout ratio is 45.54%.
In other Raytheon news, Director Dinesh C. Paliwal acquired 1,219 shares of the business’s stock in a transaction on Monday, April 30th. The shares were acquired at an average price of $205.00 per share, with a total value of $249,895.00. Following the completion of the transaction, the director now owns 2,752 shares in the company, valued at $564,160. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Frank R. Jimenez sold 1,494 shares of the business’s stock in a transaction on Thursday, March 29th. The stock was sold at an average price of $214.29, for a total value of $320,149.26. Following the completion of the transaction, the vice president now directly owns 34,690 shares in the company, valued at approximately $7,433,720.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,328 shares of company stock worth $6,681,734. 0.19% of the stock is owned by insiders.
A number of equities research analysts have weighed in on the company. Cowen reiterated a “buy” rating and issued a $235.00 target price on shares of Raytheon in a report on Tuesday, April 17th. Zacks Investment Research cut Raytheon from a “buy” rating to a “hold” rating in a research note on Thursday, April 12th. Morgan Stanley reduced their price objective on Raytheon from $245.00 to $238.00 and set an “overweight” rating for the company in a research note on Thursday, April 12th. Credit Suisse Group reissued a “neutral” rating and issued a $219.00 price objective (down previously from $250.00) on shares of Raytheon in a research note on Tuesday, May 22nd. Finally, ValuEngine raised Raytheon from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $220.23.
Raytheon Company Profile
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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