Aspiriant LLC Has $2.04 Million Stake in Raytheon (RTN)
Aspiriant LLC trimmed its holdings in Raytheon (NYSE:RTN) by 6.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,173 shares of the aerospace company’s stock after selling 770 shares during the period. Aspiriant LLC’s holdings in Raytheon were worth $2,044,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Korea Investment CORP raised its position in Raytheon by 2.3% during the fourth quarter. Korea Investment CORP now owns 383,753 shares of the aerospace company’s stock valued at $58,849,000 after purchasing an additional 8,800 shares in the last quarter. Peak Asset Management LLC raised its position in Raytheon by 5.9% during the fourth quarter. Peak Asset Management LLC now owns 45,135 shares of the aerospace company’s stock valued at $6,921,000 after purchasing an additional 2,507 shares in the last quarter. Duality Advisers LP acquired a new position in Raytheon during the fourth quarter valued at approximately $8,361,000. LSV Asset Management raised its position in Raytheon by 534.5% during the fourth quarter. LSV Asset Management now owns 229,200 shares of the aerospace company’s stock valued at $35,147,000 after purchasing an additional 193,076 shares in the last quarter. Finally, Narwhal Capital Management raised its position in Raytheon by 1.5% during the fourth quarter. Narwhal Capital Management now owns 44,650 shares of the aerospace company’s stock valued at $6,847,000 after purchasing an additional 650 shares in the last quarter. Institutional investors own 76.91% of the company’s stock.
A number of research firms have weighed in on RTN. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $205.00 target price on the stock in a research note on Wednesday, April 17th. UBS Group cut shares of Raytheon from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $220.00 to $200.00 in a research note on Wednesday, April 3rd. ValuEngine raised shares of Raytheon from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. Argus reissued a “buy” rating and issued a $200.00 price objective on shares of Raytheon in a research note on Friday, February 1st. Finally, Wolfe Research set a $205.00 price objective on shares of Raytheon and gave the stock a “buy” rating in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. Raytheon currently has a consensus rating of “Buy” and a consensus price target of $210.36.
Raytheon (NYSE:RTN) last released its earnings results on Thursday, April 25th. The aerospace company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.32. The business had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.58 billion. Raytheon had a net margin of 11.11% and a return on equity of 26.27%. Raytheon’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.20 earnings per share. As a group, sell-side analysts predict that Raytheon will post 11.61 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Wednesday, April 10th were issued a $0.9425 dividend. This is a positive change from Raytheon’s previous quarterly dividend of $0.87. The ex-dividend date was Tuesday, April 9th. This represents a $3.77 annualized dividend and a yield of 2.13%. Raytheon’s payout ratio is presently 35.53%.
In related news, VP Frank R. Jimenez sold 4,094 shares of the business’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $183.89, for a total value of $752,845.66. Following the transaction, the vice president now owns 36,964 shares in the company, valued at $6,797,309.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Michael J. Wood sold 3,501 shares of the business’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $183.86, for a total transaction of $643,693.86. Following the completion of the transaction, the chief accounting officer now owns 19,217 shares in the company, valued at approximately $3,533,237.62. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,657 shares of company stock worth $3,940,619. 0.18% of the stock is owned by company insiders.
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Raytheon Company develops integrated products, services, and solutions for defense and other government markets worldwide. It operates through five segments: Integrated Defense Systems (IDS); Intelligence, Information and Services (IIS); Missile Systems (MS); Space and Airborne Systems (SAS); and Forcepoint.
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