Argent Trust Co boosted its position in shares of Raytheon Company (NYSE:RTN) by 0.2% during the first quarter, Holdings Channel reports. The fund owned 3,666 shares of the aerospace company’s stock after buying an additional 8 shares during the period. Argent Trust Co’s holdings in Raytheon Company were worth $559,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. James Investment Research Inc. raised its position in shares of Raytheon Company by 0.6% in the first quarter. James Investment Research Inc. now owns 68,346 shares of the aerospace company’s stock worth $10,422,000 after buying an additional 381 shares during the last quarter. Greenwood Capital Associates LLC raised its position in shares of Raytheon Company by 0.7% in the fourth quarter. Greenwood Capital Associates LLC now owns 18,394 shares of the aerospace company’s stock worth $2,612,000 after buying an additional 133 shares during the last quarter. Capstone Asset Management Co. raised its position in shares of Raytheon Company by 7.7% in the first quarter. Capstone Asset Management Co. now owns 72,253 shares of the aerospace company’s stock worth $11,019,000 after buying an additional 5,179 shares during the last quarter. Woodstock Corp raised its position in shares of Raytheon Company by 1.3% in the first quarter. Woodstock Corp now owns 24,243 shares of the aerospace company’s stock worth $3,697,000 after buying an additional 306 shares during the last quarter. Finally, Banced Corp raised its position in shares of Raytheon Company by 6.0% in the first quarter. Banced Corp now owns 2,995 shares of the aerospace company’s stock worth $457,000 after buying an additional 169 shares during the last quarter. Institutional investors own 76.29% of the company’s stock.
Shares of Raytheon Company (NYSE RTN) opened at 162.55 on Thursday. The company has a 50-day moving average of $160.78 and a 200 day moving average of $152.63. Raytheon Company has a one year low of $130.97 and a one year high of $165.33. The stock has a market capitalization of $47.31 billion, a price-to-earnings ratio of 20.94 and a beta of 0.63.
Raytheon Company (NYSE:RTN) last released its earnings results on Thursday, April 27th. The aerospace company reported $1.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.12. Raytheon Company had a return on equity of 20.45% and a net margin of 9.41%. The firm had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.83 billion. During the same period in the prior year, the business posted $1.43 earnings per share. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. Equities research analysts forecast that Raytheon Company will post $7.48 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 3rd. Investors of record on Wednesday, July 5th will be given a dividend of $0.7975 per share. The ex-dividend date is Friday, June 30th. This represents a $3.19 annualized dividend and a yield of 1.96%. Raytheon Company’s dividend payout ratio (DPR) is presently 41.16%.
RTN has been the topic of a number of research reports. Jefferies Group LLC raised their price objective on Raytheon Company from $163.00 to $172.00 and gave the company a “buy” rating in a report on Monday, March 20th. Cowen and Company reiterated a “buy” rating and set a $170.00 price target on shares of Raytheon Company in a report on Monday, April 10th. Royal Bank Of Canada reiterated a “buy” rating and set a $180.00 price target on shares of Raytheon Company in a report on Friday, March 24th. Vetr upgraded Raytheon Company from a “hold” rating to a “buy” rating and set a $167.64 price target on the stock in a report on Tuesday, March 14th. Finally, Zacks Investment Research upgraded Raytheon Company from a “hold” rating to a “buy” rating and set a $175.00 price target on the stock in a report on Monday, May 1st. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $167.82.
In related news, VP Wesley D. Kremer sold 1,010 shares of the stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $163.10, for a total transaction of $164,731.00. Following the transaction, the vice president now directly owns 23,136 shares in the company, valued at $3,773,481.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Michael J. Wood sold 1,442 shares of the stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $162.98, for a total value of $235,017.16. Following the transaction, the chief accounting officer now owns 18,470 shares in the company, valued at $3,010,240.60. The disclosure for this sale can be found here. Insiders have sold 17,186 shares of company stock worth $2,773,277 over the last quarter. 0.19% of the stock is currently owned by company 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.
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).
This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/raytheon-company-rtn-shares-bought-by-argent-trust-co/1947836.html
Receive News & Ratings for Raytheon Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon Company and related companies with MarketBeat.com's FREE daily email newsletter.