Boston Family Office LLC boosted its stake in Raytheon Company (NYSE:RTN) by 6.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,711 shares of the aerospace company’s stock after buying an additional 1,100 shares during the period. Boston Family Office LLC’s holdings in Raytheon Company were worth $2,853,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Crestwood Advisors Group LLC purchased a new position in Raytheon Company during the first quarter valued at approximately $110,000. Oakworth Capital Inc. raised its position in Raytheon Company 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 purchased a new position in Raytheon Company during the first quarter valued at approximately $111,000. Orrstown Financial Services Inc. raised its position in Raytheon Company 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, Elgethun Capital Management purchased a new position in Raytheon Company during the fourth quarter valued at approximately $111,000. 76.29% of the stock is currently owned by institutional investors.
Raytheon Company (RTN) opened at 163.87 on Wednesday. Raytheon Company has a 12-month low of $130.97 and a 12-month high of $165.33. The firm has a market cap of $47.70 billion, a price-to-earnings ratio of 21.11 and a beta of 0.63. The stock has a 50 day moving average price of $160.78 and a 200-day moving average price of $152.63.
Raytheon Company (NYSE:RTN) last announced its quarterly earnings results on Thursday, April 27th. The aerospace company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.12. The business had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.83 billion. Raytheon Company had a return on equity of 20.45% and a net margin of 9.41%. The business’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $1.43 EPS. Equities analysts forecast that Raytheon Company will post $7.48 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 3rd. Investors of record on Wednesday, July 5th will be issued a $0.7975 dividend. This represents a $3.19 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Friday, June 30th. Raytheon Company’s dividend payout ratio (DPR) is 41.16%.
Several research firms have commented on RTN. Vetr lowered Raytheon Company from a “buy” rating to a “hold” rating and set a $170.66 price target on the stock. in a research report on Monday. BidaskClub raised Raytheon Company from a “hold” rating to a “buy” rating in a research report on Saturday. Cowen and Company lifted their price target on Raytheon Company from $150.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 7th. Credit Suisse Group reaffirmed a “buy” rating and set a $170.00 price target on shares of Raytheon Company in a research report on Friday, March 31st. Finally, Jefferies Group LLC reaffirmed a “buy” rating on shares of Raytheon Company in a research report on Monday, February 27th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $167.82.
In related news, CAO Michael J. Wood sold 1,442 shares of the firm’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 sale, the chief accounting officer now directly owns 18,470 shares in the company, valued at approximately $3,010,240.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Taylor W. Lawrence sold 1,036 shares of the firm’s stock in a transaction that occurred on Monday, March 27th. The shares were sold at an average price of $149.96, for a total value of $155,358.56. Following the completion of the sale, the vice president now owns 51,517 shares in the company, valued at $7,725,489.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,437 shares of company stock worth $4,027,117. 0.19% of the stock is owned by insiders.
About Raytheon Company
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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