Mycio Wealth Partners LLC purchased a new position in shares of Raytheon (NYSE:RTN) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,148 shares of the aerospace company’s stock, valued at approximately $209,000.
A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc lifted its stake in shares of Raytheon by 0.9% in the 3rd quarter. Vanguard Group Inc now owns 23,074,017 shares of the aerospace company’s stock worth $4,768,477,000 after acquiring an additional 212,408 shares during the period. BlackRock Inc. lifted its stake in shares of Raytheon by 1.3% in the 4th quarter. BlackRock Inc. now owns 22,838,110 shares of the aerospace company’s stock worth $3,502,223,000 after acquiring an additional 288,392 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of Raytheon by 8,792.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,674,238 shares of the aerospace company’s stock worth $63,000 after acquiring an additional 9,565,442 shares during the period. Macquarie Group Ltd. lifted its stake in shares of Raytheon by 11.3% in the 4th quarter. Macquarie Group Ltd. now owns 3,975,205 shares of the aerospace company’s stock worth $609,599,000 after acquiring an additional 402,785 shares during the period. Finally, Amundi Pioneer Asset Management Inc. lifted its stake in shares of Raytheon by 9.4% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 3,880,490 shares of the aerospace company’s stock worth $595,074,000 after acquiring an additional 334,298 shares during the period. Hedge funds and other institutional investors own 75.81% of the company’s stock.
Shares of RTN opened at $182.49 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $51.51 billion, a PE ratio of 17.20, a P/E/G ratio of 1.39 and a beta of 0.99. Raytheon has a 52-week low of $144.27 and a 52-week high of $229.75.
Raytheon (NYSE:RTN) last announced its quarterly earnings results on Thursday, January 31st. The aerospace company reported $2.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.89 by $0.04. The business had revenue of $7.36 billion during the quarter, compared to the consensus estimate 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 firm posted $2.03 EPS. On average, equities research analysts forecast that Raytheon will post 11.59 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders 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 dividend yield of 2.07%. The ex-dividend date is Tuesday, April 9th. This is an increase from Raytheon’s previous quarterly dividend of $0.87. Raytheon’s dividend payout ratio (DPR) is currently 35.53%.
Several research firms have recently commented on RTN. UBS Group cut shares of Raytheon from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $220.00 to $200.00 in a research note on Wednesday, April 3rd. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a research note on Wednesday. Alembic Global Advisors upgraded shares of Raytheon from a “neutral” rating to an “overweight” rating and set a $214.00 target price for the company in a research note on Tuesday, February 5th. ValuEngine upgraded shares of Raytheon from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. Finally, Argus restated a “buy” rating and issued a $200.00 target price on shares of Raytheon in a research note on Friday, February 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $210.33.
In other news, CAO Michael J. Wood sold 3,501 shares of the stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $183.86, for a total value of $643,693.86. Following the completion of the transaction, the chief accounting officer now owns 19,217 shares in the company, valued at approximately $3,533,237.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Michael J. Wood sold 543 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $180.72, for a total transaction of $98,130.96. Following the completion of the transaction, the chief accounting officer now owns 15,081 shares of the company’s stock, valued at approximately $2,725,438.32. The disclosure for this sale can be found here. Insiders sold a total of 21,657 shares of company stock valued at $3,940,619 in the last quarter. Insiders own 0.18% of the company’s stock.
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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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