Raytheon (RTN) Position Raised by Oak Grove Capital LLC

Oak Grove Capital LLC increased its position in shares of Raytheon (NYSE:RTN) by 117.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,000 shares of the aerospace company’s stock after purchasing an additional 8,650 shares during the period. Raytheon accounts for about 2.2% of Oak Grove Capital LLC’s investment portfolio, making the stock its 13th largest holding. Oak Grove Capital LLC’s holdings in Raytheon were worth $2,454,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in RTN. Athena Capital Advisors LLC bought a new position in shares of Raytheon in the fourth quarter valued at $26,000. Sontag Advisory LLC bought a new position in shares of Raytheon in the fourth quarter valued at $26,000. Bremer Trust National Association acquired a new stake in Raytheon during the 4th quarter valued at $33,000. Laurel Wealth Advisors LLC acquired a new stake in Raytheon during the 4th quarter valued at $34,000. Finally, Proficio Capital Partners LLC raised its stake in Raytheon by 42.9% during 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 during the period. 75.74% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have issued reports on RTN. Citigroup cut their target price on shares of Raytheon from $230.00 to $208.00 and set a “buy” rating on the stock in a research note on Monday, January 14th. Zacks Investment Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, December 31st. Alembic Global Advisors raised shares of Raytheon from a “neutral” rating to an “overweight” rating and set a $214.00 target price on the stock in a research note on Tuesday, February 5th. ValuEngine raised shares of Raytheon from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. Finally, Barclays cut their target price on shares of Raytheon from $239.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $217.31.

In related news, VP Anthony F. O’brien sold 9,656 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $181.06, for a total value of $1,748,315.36. Following the completion of the sale, the vice president now directly owns 34,057 shares in the company, valued at $6,166,360.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Michael J. Wood sold 3,501 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer now owns 19,217 shares of the company’s stock, valued at $3,533,237.62. The disclosure for this sale can be found here. Insiders sold 17,251 shares of company stock valued at $3,144,855 over the last quarter. 0.19% of the stock is currently owned by corporate insiders.

Shares of Raytheon stock traded up $1.50 on Monday, hitting $181.49. 373,640 shares of the company traded hands, compared to its average volume of 1,882,458. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.41. Raytheon has a 12-month low of $144.27 and a 12-month high of $229.75. The stock has a market cap of $50.80 billion, a P/E ratio of 17.11, a P/E/G ratio of 1.37 and a beta of 1.00.

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, topping the Zacks’ consensus estimate of $2.89 by $0.04. The firm had revenue of $7.36 billion during the quarter, compared to analysts’ expectations of $7.50 billion. Raytheon had a net margin of 10.75% and a return on equity of 25.81%. During the same period in the prior year, the company posted $2.03 earnings per share. On average, equities research analysts expect 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. The ex-dividend date of this dividend is Tuesday, April 9th. This is a boost from Raytheon’s previous quarterly dividend of $0.87. This represents a $3.77 dividend on an annualized basis and a yield of 2.08%. Raytheon’s dividend payout ratio is currently 32.70%.

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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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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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