Baker Chad R Continues to Hold Stake in Raytheon Company (RTN)
Baker Chad R maintained its stake in Raytheon Company (NYSE:RTN) during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 20,000 shares of the aerospace company’s stock at the end of the first quarter. Baker Chad R’s holdings in Raytheon Company were worth $3,050,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Crestwood Advisors Group LLC purchased a new position in Raytheon Company during the first quarter valued at $110,000. Oakworth Capital Inc. boosted 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 $111,000. Orrstown Financial Services Inc. boosted 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 $111,000. 76.20% of the stock is owned by institutional investors.
Raytheon Company (RTN) opened at 162.56 on Friday. Raytheon Company has a 1-year low of $130.97 and a 1-year high of $164.35. The firm has a 50-day moving average of $160.24 and a 200-day moving average of $152.38. The stock has a market capitalization of $47.32 billion, a PE ratio of 20.94 and a beta of 0.63.
Raytheon Company (NYSE:RTN) last announced its quarterly earnings results on Thursday, April 27th. The aerospace company reported $1.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.12. The company had revenue of $6 billion during the quarter, compared to analyst estimates of $5.83 billion. Raytheon Company had a return on equity of 20.45% and a net margin of 9.41%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.43 earnings per share. Equities analysts expect that Raytheon Company will post $7.48 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 3rd. Shareholders of record on Wednesday, July 5th will be paid 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 is presently 41.16%.
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Several research analysts recently weighed in on RTN shares. Jefferies Group LLC restated a “buy” rating on shares of Raytheon Company in a report on Monday, February 27th. Cowen and Company boosted their price target on shares of Raytheon Company from $150.00 to $170.00 and gave the stock an “outperform” rating in a report on Tuesday, March 7th. Vetr cut shares of Raytheon Company from a “buy” rating to a “hold” rating and set a $159.34 price target on the stock. in a report on Monday, March 13th. Royal Bank Of Canada restated a “buy” rating and set a $180.00 price target on shares of Raytheon Company in a report on Friday, March 24th. Finally, Credit Suisse Group restated a “buy” rating and set a $170.00 price target on shares of Raytheon Company in a report on Friday, March 31st. One research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Raytheon Company currently has a consensus rating of “Buy” and an average price target of $167.82.
In other news, VP Anthony F. O’brien sold 1,275 shares of the stock in a transaction dated Friday, March 24th. The stock was sold at an average price of $152.29, for a total value of $194,169.75. Following the completion of the sale, the vice president now owns 17,900 shares in the company, valued at $2,725,991. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Taylor W. Lawrence sold 1,036 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $7,725,489.32. The disclosure for this sale can be found here. Insiders have sold 25,437 shares of company stock valued at $4,027,117 over the last 90 days. 0.19% of the stock is currently 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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