Van Strum & Towne Inc. continued to hold its position in shares of Raytheon Company (NYSE:RTN) during the first quarter, Holdings Channel reports. The institutional investor owned 7,869 shares of the aerospace company’s stock at the end of the first quarter. Van Strum & Towne Inc.’s holdings in Raytheon Company were worth $1,200,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Crestwood Advisors Group LLC acquired a new position in shares of Raytheon Company during the first quarter valued at about $110,000. Oakworth Capital Inc. raised its position in shares of 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 last quarter. Signature Estate & Investment Advisors LLC acquired a new position in shares of Raytheon Company during the first quarter valued at about $111,000. Orrstown Financial Services Inc. raised its position in shares of 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 last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Raytheon Company during the third quarter valued at about $105,000. Institutional investors own 75.72% of the company’s stock.
Raytheon Company (RTN) opened at 160.94 on Friday. The firm has a market capitalization of $46.85 billion, a P/E ratio of 20.73 and a beta of 0.67. The firm’s 50-day moving average price is $159.34 and its 200 day moving average price is $151.92. Raytheon Company has a one year low of $130.97 and a one year high of $164.35.
Raytheon Company (NYSE:RTN) last posted its quarterly earnings results on Thursday, April 27th. The aerospace company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.12. Raytheon Company had a net margin of 9.19% and a return on equity of 19.77%. The business had revenue of $6 billion during the quarter, compared to analyst estimates of $5.83 billion. During the same period in the prior year, the business posted $1.43 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. On average, equities analysts anticipate that Raytheon Company will post $7.48 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 3rd. Shareholders of record on Wednesday, July 5th will be given a dividend of $0.7975 per share. The ex-dividend date of this dividend is Friday, June 30th. This represents a $3.19 annualized dividend and a yield of 1.98%. Raytheon Company’s payout ratio is 39.38%.
Several equities analysts have recently issued reports on the company. Cowen and Company lifted their price target on Raytheon Company from $150.00 to $170.00 and gave the company an “outperform” rating in a research note on Tuesday, March 7th. Zacks Investment Research lowered Raytheon Company from a “buy” rating to a “hold” rating in a research note on Monday, May 29th. Credit Suisse Group AG reiterated a “buy” rating and issued a $170.00 price target on shares of Raytheon Company in a research note on Friday, March 31st. Jefferies Group LLC reiterated a “buy” rating on shares of Raytheon Company in a research note on Monday, February 27th. Finally, Vetr upgraded Raytheon Company from a “hold” rating to a “buy” rating and set a $170.66 price target on the stock in a research note on Thursday, June 1st. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $167.82.
In other Raytheon Company news, VP Anthony F. O’brien sold 1,275 shares of the company’s stock in a transaction dated Friday, March 24th. The shares were sold at an average price of $152.29, for a total transaction of $194,169.75. Following the completion of the sale, the vice president now directly owns 17,900 shares in the company, valued at $2,725,991. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Wesley D. Kremer sold 1,010 shares of the company’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $163.10, for a total transaction of $164,731.00. Following the sale, the vice president now owns 23,136 shares of the company’s stock, valued at $3,773,481.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,437 shares of company stock valued at $4,027,117. Company insiders own 0.21% of the company’s stock.
Raytheon Company 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.
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