Northstar Group Inc. boosted its position in shares of Raytheon (NYSE:RTN) by 4.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,132 shares of the aerospace company’s stock after buying an additional 190 shares during the period. Northstar Group Inc.’s holdings in Raytheon were worth $752,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the business. Cibc Bank USA boosted its stake in shares of Raytheon by 1.7% in the 4th quarter. Cibc Bank USA now owns 3,733 shares of the aerospace company’s stock valued at $572,000 after purchasing an additional 64 shares in the last quarter. Coastline Trust Co boosted its stake in shares of Raytheon by 0.6% in the 4th quarter. Coastline Trust Co now owns 10,850 shares of the aerospace company’s stock valued at $1,664,000 after purchasing an additional 65 shares in the last quarter. Lodestar Investment Counsel LLC IL boosted its stake in shares of Raytheon by 3.1% in the 1st quarter. Lodestar Investment Counsel LLC IL now owns 2,148 shares of the aerospace company’s stock valued at $391,000 after purchasing an additional 65 shares in the last quarter. CX Institutional boosted its stake in shares of Raytheon by 23.4% in the 1st quarter. CX Institutional now owns 348 shares of the aerospace company’s stock valued at $63,000 after purchasing an additional 66 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its stake in shares of Raytheon by 42.9% in the 4th quarter. Proficio Capital Partners LLC now owns 223 shares of the aerospace company’s stock valued at $34,000 after purchasing an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 75.81% of the company’s stock.
Shares of NYSE RTN opened at $182.36 on Wednesday. The company has a market capitalization of $51.47 billion, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 1.39 and a beta of 0.99. Raytheon has a 1 year low of $144.27 and a 1 year high of $229.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.46 and a quick ratio of 1.37.
Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, January 31st. The aerospace company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.04. The business had revenue of $7.36 billion during the quarter, compared to analyst estimates of $7.50 billion. Raytheon had a net margin of 10.75% and a return on equity of 25.81%. During the same quarter last year, the business earned $2.03 EPS. Analysts forecast that Raytheon will post 11.59 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Wednesday, April 10th will be issued a $0.9425 dividend. This represents a $3.77 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Tuesday, April 9th. This is a positive change from Raytheon’s previous quarterly dividend of $0.87. Raytheon’s dividend payout ratio (DPR) is 35.53%.
In other Raytheon news, VP Michael J. Wood sold 427 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $177.58, for a total transaction of $75,826.66. Following the completion of the transaction, the vice president now owns 13,165 shares in the company, valued at approximately $2,337,840.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Michael J. Wood sold 3,501 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $183.86, for a total transaction of $643,693.86. Following the transaction, the chief accounting officer now owns 19,217 shares of the company’s stock, valued at approximately $3,533,237.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,657 shares of company stock valued at $3,940,619. Company insiders own 0.19% of the company’s stock.
A number of equities research analysts have recently weighed in on the stock. UBS Group downgraded shares of Raytheon from a “buy” rating to a “neutral” rating and reduced their price target for the company from $220.00 to $200.00 in a research note on Wednesday, April 3rd. Alembic Global Advisors upgraded shares of Raytheon from a “neutral” rating to an “overweight” rating and set a $214.00 price objective for the company in a report on Tuesday, February 5th. ValuEngine upgraded shares of Raytheon from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Argus reiterated a “buy” rating and issued a $200.00 price objective on shares of Raytheon in a report on Friday, February 1st. Finally, Citigroup dropped their price objective on shares of Raytheon from $230.00 to $208.00 and set a “buy” rating for the company in a report on Monday, January 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. Raytheon presently has a consensus rating of “Buy” and an average target price of $213.46.
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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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