Cognios Capital LLC Has $3.21 Million Holdings in Raytheon (RTN)

Cognios Capital LLC lowered its stake in Raytheon (NYSE:RTN) by 24.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 17,085 shares of the aerospace company’s stock after selling 5,595 shares during the quarter. Raytheon comprises about 1.2% of Cognios Capital LLC’s investment portfolio, making the stock its 10th biggest position. Cognios Capital LLC’s holdings in Raytheon were worth $3,207,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RTN. CWA Asset Management Group LLC lifted its position in shares of Raytheon by 10.3% during the second quarter. CWA Asset Management Group LLC now owns 25,149 shares of the aerospace company’s stock worth $4,061,000 after purchasing an additional 2,350 shares in the last quarter. Teachers Advisors LLC lifted its position in shares of Raytheon by 8.5% during the second quarter. Teachers Advisors LLC now owns 776,489 shares of the aerospace company’s stock worth $125,387,000 after purchasing an additional 60,851 shares in the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of Raytheon by 4.1% during the second quarter. TIAA CREF Investment Management LLC now owns 1,769,723 shares of the aerospace company’s stock worth $285,775,000 after purchasing an additional 70,128 shares in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its position in shares of Raytheon by 1.3% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 15,865 shares of the aerospace company’s stock worth $2,562,000 after purchasing an additional 205 shares in the last quarter. Finally, Chemical Bank lifted its position in shares of Raytheon by 13.3% during the second quarter. Chemical Bank now owns 5,554 shares of the aerospace company’s stock worth $897,000 after purchasing an additional 650 shares in the last quarter. 73.29% of the stock is currently owned by institutional investors.

Several brokerages have recently issued reports on RTN. Sanford C. Bernstein increased their price target on shares of Raytheon from $231.00 to $255.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Cowen reissued a “buy” rating and set a $215.00 price target on shares of Raytheon in a research report on Wednesday, January 31st. Robert W. Baird reissued a “buy” rating and set a $237.00 price target on shares of Raytheon in a research report on Friday, January 26th. Stifel Nicolaus increased their price target on shares of Raytheon from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Finally, Royal Bank of Canada set a $235.00 price target on shares of Raytheon and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Raytheon has an average rating of “Buy” and an average price target of $210.77.

In other Raytheon news, Director Letitia A. Long sold 650 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $185.83, for a total value of $120,789.50. Following the transaction, the director now directly owns 2,273 shares in the company, valued at $422,391.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen J. Hadley sold 800 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $190.27, for a total transaction of $152,216.00. Following the completion of the transaction, the director now owns 11,360 shares in the company, valued at $2,161,467.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,274 shares of company stock worth $1,486,162. 0.19% of the stock is owned by corporate insiders.

Shares of Raytheon (NYSE RTN) opened at $204.52 on Friday. The firm has a market cap of $59,120.00, a P/E ratio of 29.47, a P/E/G ratio of 1.94 and a beta of 0.76. Raytheon has a 1-year low of $148.27 and a 1-year high of $213.45. The company has a quick ratio of 1.46, a current ratio of 1.54 and a debt-to-equity ratio of 0.48.

Raytheon (NYSE:RTN) last issued its earnings results on Thursday, January 25th. The aerospace company reported $2.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.01. The firm had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.81 billion. Raytheon had a net margin of 7.98% and a return on equity of 21.36%. The firm’s revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.84 earnings per share. equities analysts forecast that Raytheon will post 9.65 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 3rd were issued a $0.7975 dividend. The ex-dividend date was Tuesday, January 2nd. This represents a $3.19 annualized dividend and a yield of 1.56%. Raytheon’s dividend payout ratio (DPR) is 45.97%.

Raytheon declared that its Board of Directors has approved a stock buyback plan on Wednesday, November 15th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

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Raytheon 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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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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