State Street Corp increased its stake in Raytheon Company (NYSE:RTN) by 2.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,585,731 shares of the aerospace company’s stock after buying an additional 313,435 shares during the period. State Street Corp owned approximately 4.32% of Raytheon worth $1,919,348,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the company. Crestwood Advisors Group LLC acquired a new stake in shares of Raytheon during the first quarter valued at approximately $110,000. Oakworth Capital Inc. boosted its stake in shares of 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 during the period. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Raytheon during the first quarter valued at approximately $111,000. Orrstown Financial Services Inc. boosted its stake in shares of 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 during the period. Finally, Adirondack Trust Co. boosted its stake in shares of 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 during the period. 74.98% of the stock is owned by institutional investors and hedge funds.
Shares of Raytheon Company (RTN) traded up 1.32% during midday trading on Friday, hitting $179.96. The company had a trading volume of 778,938 shares. The firm’s 50-day moving average is $168.07 and its 200-day moving average is $158.27. The firm has a market capitalization of $52.23 billion, a P/E ratio of 24.86 and a beta of 0.59. Raytheon Company has a 12-month low of $132.89 and a 12-month high of $181.05. Raytheon also was the target of some unusual options trading on Thursday. Traders acquired 14,447 call options on the stock. This is an increase of 901% compared to the average volume of 1,443 call options.
Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.15. The business had revenue of $6.28 billion for the quarter, compared to analysts’ expectations of $6.24 billion. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.38 EPS. On average, analysts predict that Raytheon Company will post $7.59 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Stockholders of record on Wednesday, July 5th were given a $0.7975 dividend. The ex-dividend date of this dividend was Friday, June 30th. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.80%. Raytheon’s dividend payout ratio is currently 43.94%.
Several brokerages have commented on RTN. Robert W. Baird reiterated an “outperform” rating and issued a $212.00 price target (up from $170.00) on shares of Raytheon in a research report on Thursday. Cowen and Company reiterated a “buy” rating on shares of Raytheon in a research report on Thursday. Argus reiterated a “buy” rating and issued a $195.00 price target (up from $175.00) on shares of Raytheon in a research report on Friday, August 4th. Morgan Stanley began coverage on shares of Raytheon in a research report on Tuesday. They issued an “equal weight” rating and a $188.00 price target on the stock. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $183.00 price target (up from $180.00) on shares of Raytheon in a research report on Sunday, July 30th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $180.12.
In related news, Director Robert E. Beauchamp purchased 1,162 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were purchased at an average cost of $171.99 per share, with a total value of $199,852.38. Following the transaction, the director now directly owns 4,303 shares in the company, valued at approximately $740,072.97. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Michael J. Wood sold 1,442 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $162.98, for a total value 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 $3,010,240.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,911 shares of company stock worth $2,580,752. Insiders own 0.19% of the company’s stock.
Raytheon 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.
Want to see what other hedge funds are holding RTN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raytheon Company (NYSE:RTN).
What are top analysts saying about Raytheon Company? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Raytheon Company and related companies.