Ballentine Partners LLC bought a new position in Raytheon Company (NYSE:RTN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,913 shares of the aerospace company’s stock, valued at approximately $292,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Raytheon by 4.7% in the first quarter. Vanguard Group Inc. now owns 21,910,520 shares of the aerospace company’s stock worth $3,341,355,000 after buying an additional 989,986 shares during the period. BlackRock Inc. raised its position in shares of Raytheon by 2,166.0% in the first quarter. BlackRock Inc. now owns 19,407,819 shares of the aerospace company’s stock worth $2,959,694,000 after buying an additional 18,551,353 shares during the period. State Street Corp raised its position in shares of Raytheon by 2.6% in the first quarter. State Street Corp now owns 12,585,731 shares of the aerospace company’s stock worth $1,919,348,000 after buying an additional 313,435 shares during the period. Morgan Stanley raised its position in shares of Raytheon by 7.2% in the first quarter. Morgan Stanley now owns 4,491,454 shares of the aerospace company’s stock worth $684,945,000 after buying an additional 302,274 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Raytheon by 9.5% in the first quarter. Geode Capital Management LLC now owns 3,213,208 shares of the aerospace company’s stock worth $489,393,000 after buying an additional 277,639 shares during the period. Institutional investors own 74.72% of the company’s stock.

Shares of Raytheon Company (RTN) traded up 0.03% during midday trading on Wednesday, hitting $178.27. The company’s stock had a trading volume of 604,741 shares. The stock’s 50 day moving average is $169.57 and its 200-day moving average is $159.17. Raytheon Company has a 52-week low of $132.89 and a 52-week high of $181.05. The firm has a market cap of $51.74 billion, a P/E ratio of 24.62 and a beta of 0.59.

Raytheon (NYSE:RTN) last issued its earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.15. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The business had revenue of $6.28 billion for the quarter, compared to analysts’ expectations of $6.24 billion. During the same quarter in the previous year, the firm posted $2.38 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. Equities analysts predict that Raytheon Company will post $7.59 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Stockholders of record on Wednesday, July 5th were issued a $0.7975 dividend. The ex-dividend date was Friday, June 30th. This represents a $3.19 annualized dividend and a dividend yield of 1.79%. Raytheon’s payout ratio is currently 43.94%.

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A number of equities analysts have recently weighed in on RTN shares. Robert W. Baird reiterated an “outperform” rating and set a $212.00 target price (up previously from $170.00) on shares of Raytheon in a research note on Thursday, August 10th. Vetr upgraded Raytheon from a “hold” rating to a “buy” rating and set a $178.87 target price on the stock in a research note on Monday, July 17th. Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $175.00 target price on the stock in a research note on Monday, May 1st. BidaskClub lowered Raytheon from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Buckingham Research increased their target price on Raytheon from $190.00 to $199.00 and gave the stock a “buy” rating in a research note on Friday, August 11th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Raytheon currently has a consensus rating of “Buy” and an average price target of $183.01.

In other news, Director Vernon E. Clark sold 829 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $180.19, for a total value of $149,377.51. Following the transaction, the director now owns 7,588 shares of the company’s stock, valued at $1,367,281.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Wesley D. Kremer sold 1,010 shares of the company’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $163.10, for a total transaction of $164,731.00. Following the completion of the transaction, the vice president now directly owns 23,136 shares in the company, valued at approximately $3,773,481.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,740 shares of company stock worth $2,730,129. Insiders own 0.19% of the company’s stock.

About Raytheon

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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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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