Asset Management One Co. Ltd. reduced its stake in shares of Raytheon Company (NYSE:RTN) by 9.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 469,780 shares of the aerospace company’s stock after selling 49,623 shares during the period. Asset Management One Co. Ltd. owned approximately 0.16% of Raytheon worth $71,660,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of RTN. Crestwood Advisors Group LLC acquired a new stake in Raytheon during the first quarter valued at $110,000. Oakworth Capital Inc. boosted its stake in Raytheon by 156.1% in the first quarter. Oakworth Capital Inc. now owns 730 shares of the aerospace company’s stock valued at $111,000 after buying an additional 445 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in Raytheon during the first quarter valued at $111,000. Orrstown Financial Services Inc. boosted its stake in Raytheon by 22.6% in the first quarter. Orrstown Financial Services Inc. now owns 759 shares of the aerospace company’s stock valued at $116,000 after buying an additional 140 shares in the last quarter. Finally, Adirondack Trust Co. boosted its stake in Raytheon by 7.1% in the first quarter. Adirondack Trust Co. now owns 803 shares of the aerospace company’s stock valued at $122,000 after buying an additional 53 shares in the last quarter. 74.75% of the stock is owned by institutional investors.
Raytheon Company (NYSE:RTN) opened at 168.98 on Thursday. The company has a market capitalization of $49.19 billion, a PE ratio of 21.77 and a beta of 0.58. Raytheon Company has a one year low of $132.89 and a one year high of $169.29. The firm’s 50 day moving average price is $163.41 and its 200-day moving average price is $155.52.
Raytheon (NYSE:RTN) last released its earnings results on Thursday, April 27th. The aerospace company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.12. The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.83 billion. Raytheon had a return on equity of 20.45% and a net margin of 9.41%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.43 EPS. Equities analysts forecast that Raytheon Company will post $7.48 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 3rd. Stockholders of record on Wednesday, July 5th will be given a dividend of $0.7975 per share. The ex-dividend date is Friday, June 30th. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.89%. Raytheon’s payout ratio is 41.16%.
Several equities research analysts have recently weighed in on RTN shares. Stifel Nicolaus increased their price objective on Raytheon from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Cowen and Company reissued a “buy” rating and issued a $170.00 price objective on shares of Raytheon in a research report on Monday, April 10th. Credit Suisse Group reissued a “buy” rating and issued a $170.00 price objective on shares of Raytheon in a research report on Friday, March 31st. Royal Bank Of Canada reissued a “buy” rating and issued a $180.00 price objective on shares of Raytheon in a research report on Friday, March 24th. Finally, Vetr raised Raytheon from a “hold” rating to a “buy” rating and set a $167.16 price objective for the company in a research report on Monday, May 22nd. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $168.45.
In other news, CAO Michael J. Wood sold 1,442 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $162.98, for a total transaction of $235,017.16. Following the completion of the sale, the chief accounting officer now directly owns 18,470 shares in the company, valued at approximately $3,010,240.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Thomas A. Kennedy sold 10,703 shares of the company’s stock in a transaction 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 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. Over the last quarter, insiders have sold 15,911 shares of company stock valued at $2,580,752. Corporate insiders own 0.19% of the company’s stock.
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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