Alera Investment Advisors LLC Takes Position in Raytheon (NYSE:RTN)

Alera Investment Advisors LLC bought a new stake in Raytheon (NYSE:RTN) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 285 shares of the aerospace company’s stock, valued at approximately $52,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RTN. Alpha Omega Wealth Management LLC bought a new position in Raytheon in the first quarter valued at $25,000. Athena Capital Advisors LLC bought a new position in Raytheon in the fourth quarter valued at $26,000. Sontag Advisory LLC bought a new position in Raytheon in the fourth quarter valued at $26,000. WP Advisors LLC bought a new position in Raytheon in the first quarter valued at $26,000. Finally, Farmers National Bank bought a new position in Raytheon in the first quarter valued at $27,000. 74.39% of the stock is currently owned by institutional investors and hedge funds.

NYSE RTN opened at $177.00 on Thursday. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. Raytheon has a 12-month low of $144.27 and a 12-month high of $210.89. The stock has a market cap of $52.03 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 1.42 and a beta of 0.91.

Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, April 25th. The aerospace company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.32. Raytheon had a net margin of 11.11% and a return on equity of 26.27%. The business had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.58 billion. During the same period in the prior year, the business posted $2.20 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis. Sell-side analysts predict that Raytheon will post 11.62 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a dividend of $0.9425 per share. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $3.77 dividend on an annualized basis and a dividend yield of 2.13%. Raytheon’s dividend payout ratio is currently 35.53%.

A number of research analysts recently commented on the company. ValuEngine raised Raytheon from a “sell” rating to a “hold” rating in a research note on Friday, June 7th. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $205.00 target price on the stock in a research note on Wednesday, April 17th. Stifel Nicolaus increased their target price on Raytheon from $205.00 to $218.00 and gave the company a “buy” rating in a research note on Monday. Jefferies Financial Group increased their target price on Raytheon from $202.00 to $216.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Finally, Vertical Research cut Raytheon from a “buy” rating to a “hold” rating and reduced their target price for the company from $216.00 to $203.00 in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Raytheon currently has an average rating of “Buy” and a consensus price target of $208.36.

In other news, VP Frank R. Jimenez sold 1,496 shares of the stock in a transaction dated Friday, March 29th. The shares were sold at an average price of $181.58, for a total transaction of $271,643.68. Following the completion of the sale, the vice president now directly owns 28,613 shares in the company, valued at $5,195,548.54. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Wesley D. Kremer sold 8,186 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $185.00, for a total transaction of $1,514,410.00. Following the sale, the vice president now owns 29,175 shares of the company’s stock, valued at $5,397,375. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,592 shares of company stock valued at $2,310,174. 0.18% of the stock is currently owned by company insiders.

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Raytheon Profile

Raytheon Company develops integrated products, services, and solutions for the 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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