Trust Co. of Vermont raised its stake in shares of Raytheon Company (NYSE:RTN) by 4.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,145 shares of the aerospace company’s stock after buying an additional 375 shares during the period. Trust Co. of Vermont’s holdings in Raytheon Company were worth $1,242,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Crestwood Advisors Group LLC purchased a new stake in shares of Raytheon Company during the first quarter worth about $110,000. Oakworth Capital Inc. boosted its position in Raytheon Company by 156.1% in the first quarter. Oakworth Capital Inc. now owns 730 shares of the aerospace company’s stock worth $111,000 after buying an additional 445 shares during the period. Signature Estate & Investment Advisors LLC bought a new position in Raytheon Company during the first quarter worth approximately $111,000. Orrstown Financial Services Inc. boosted its position in Raytheon Company by 22.6% in the first quarter. Orrstown Financial Services Inc. now owns 759 shares of the aerospace company’s stock worth $116,000 after buying an additional 140 shares during the period. Finally, Itau Unibanco Holding S.A. bought a new position in Raytheon Company during the third quarter worth approximately $105,000. Institutional investors and hedge funds own 76.20% of the company’s stock.
Shares of Raytheon Company (NYSE RTN) opened at 162.56 on Friday. Raytheon Company has a 52-week low of $130.97 and a 52-week high of $164.35. The company has a market cap of $47.32 billion, a P/E ratio of 20.94 and a beta of 0.63. The company has a 50-day moving average price of $160.24 and a 200-day moving average price of $152.38.
Raytheon Company (NYSE:RTN) last released its quarterly earnings results on Thursday, April 27th. The aerospace company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.12. The company had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.83 billion. Raytheon Company had a return on equity of 20.45% and a net margin of 9.41%. Raytheon Company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.43 EPS. On average, equities analysts predict that Raytheon Company will post $7.48 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 3rd. Investors of record on Wednesday, July 5th will be issued a $0.7975 dividend. The ex-dividend date is Friday, June 30th. This represents a $3.19 dividend on an annualized basis and a yield of 1.96%. Raytheon Company’s payout ratio is 41.16%.
RTN has been the subject of a number of research reports. Stifel Nicolaus raised their price objective on shares of Raytheon Company from $160.00 to $175.00 and gave the company a “buy” rating in a report on Friday, April 28th. Cowen and Company reaffirmed a “buy” rating and set a $170.00 price objective on shares of Raytheon Company in a research report on Monday, April 10th. Credit Suisse Group reaffirmed a “buy” rating and set a $170.00 price objective on shares of Raytheon Company in a research report on Friday, March 31st. Royal Bank Of Canada reissued a “buy” rating and issued a $180.00 price target on shares of Raytheon Company in a research report on Friday, March 24th. Finally, Jefferies Group LLC lifted their price target on shares of Raytheon Company from $163.00 to $172.00 and gave the company a “buy” rating in a research report on Monday, March 20th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Raytheon Company has an average rating of “Buy” and an average target price of $167.82.
In other news, VP Anthony F. O’brien sold 1,275 shares of the company’s stock in a transaction that occurred on Friday, March 24th. The stock was sold at an average price of $152.29, for a total value of $194,169.75. Following the completion of the sale, the vice president now directly owns 17,900 shares in the company, valued at $2,725,991. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Thomas A. Kennedy sold 10,703 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $162.05, for a total value of $1,734,421.15. Following the completion of the sale, the chairman now owns 61,671 shares of the company’s stock, valued at $9,993,785.55. The disclosure for this sale can be found here. Insiders sold a total of 25,437 shares of company stock valued at $4,027,117 in the last ninety days. 0.19% of the stock is currently owned by insiders.
Raytheon Company Company Profile
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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