National Planning Corp reduced its stake in Raytheon Company (NYSE:RTN) by 22.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,942 shares of the company’s stock after selling 1,133 shares during the period. National Planning Corp’s holdings in Raytheon Company were worth $574,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Citizens Bank & Trust Co. purchased a new position in shares of Raytheon Company during the second quarter valued at about $320,000. HM Capital Management LLC boosted its position in shares of Raytheon Company by 0.6% in the second quarter. HM Capital Management LLC now owns 1,985 shares of the company’s stock valued at $270,000 after buying an additional 11 shares during the last quarter. Sigma Investment Counselors Inc. purchased a new position in shares of Raytheon Company during the second quarter valued at about $286,000. Penobscot Investment Management Company Inc. boosted its position in shares of Raytheon Company by 14.5% in the second quarter. Penobscot Investment Management Company Inc. now owns 8,038 shares of the company’s stock valued at $1,093,000 after buying an additional 1,015 shares during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of Raytheon Company during the second quarter valued at about $218,000. 77.29% of the stock is currently owned by institutional investors and hedge funds.
Raytheon Company (NYSE:RTN) opened at 150.03 on Friday. Raytheon Company has a 52-week low of $119.38 and a 52-week high of $152.58. The company has a market cap of $44.14 billion, a P/E ratio of 20.16 and a beta of 0.67. The stock’s 50 day moving average price is $146.10 and its 200 day moving average price is $142.17.
Raytheon Company (NYSE:RTN) last issued its quarterly earnings results on Thursday, January 26th. The company reported $1.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.86 by $0.02. The business had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $6.56 billion. Raytheon Company had a return on equity of 19.77% and a net margin of 9.19%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.85 EPS. Analysts expect that Raytheon Company will post $7.40 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 2nd. Shareholders of record on Wednesday, January 4th were given a dividend of $0.7325 per share. The ex-dividend date of this dividend was Friday, December 30th. This represents a $2.93 dividend on an annualized basis and a yield of 1.95%. Raytheon Company’s dividend payout ratio is currently 39.38%.
RTN has been the topic of several research reports. Zacks Investment Research cut Raytheon Company from a “hold” rating to a “sell” rating in a research report on Monday, October 17th. Vertical Research started coverage on Raytheon Company in a research report on Friday, October 28th. They set a “buy” rating and a $154.00 price objective on the stock. Deutsche Bank AG lifted their price objective on Raytheon Company from $140.00 to $145.00 and gave the company a “hold” rating in a research report on Friday, October 28th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Raytheon Company in a research report on Monday, November 14th. Finally, Vetr cut Raytheon Company from a “strong-buy” rating to a “buy” rating and set a $159.91 price objective on the stock. in a research report on Tuesday, January 3rd. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $157.03.
In other Raytheon Company news, VP Frank R. Jimenez sold 500 shares of the stock in a transaction that occurred on Thursday, January 26th. The stock was sold at an average price of $142.00, for a total transaction of $71,000.00. Following the transaction, the vice president now owns 26,158 shares in the company, valued at $3,714,436. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.21% of the company’s stock.
Raytheon Company Company Profile
Raytheon Company (Raytheon), together with its subsidiaries, is a technology company. The Company develops technologically integrated products, services and solutions in various markets, such as sensing; effects; command, control, communications, computers, cyber and intelligence (C5I); mission support, and cybersecurity.
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