Cigna Investments Inc. New lessened its stake in Raytheon (NYSE:RTN) by 2.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,234 shares of the aerospace company’s stock after selling 200 shares during the period. Cigna Investments Inc. New’s holdings in Raytheon were worth $1,500,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Alpha Omega Wealth Management LLC purchased a new position in shares of Raytheon during the 1st quarter valued at approximately $25,000. Athena Capital Advisors LLC purchased a new position in shares of Raytheon during the 4th quarter valued at approximately $26,000. Sontag Advisory LLC purchased a new position in shares of Raytheon during the 4th quarter valued at approximately $26,000. WP Advisors LLC purchased a new position in shares of Raytheon during the 1st quarter valued at approximately $26,000. Finally, Farmers National Bank purchased a new position in shares of Raytheon during the 1st quarter valued at approximately $27,000. Institutional investors and hedge funds own 74.37% of the company’s stock.

In other Raytheon news, CAO Michael J. Wood sold 543 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $180.72, for a total value of $98,130.96. Following the completion of the sale, the chief accounting officer now directly owns 15,081 shares of the company’s stock, valued at approximately $2,725,438.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Anthony F. O’brien sold 9,656 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $181.06, for a total value of $1,748,315.36. Following the completion of the sale, the vice president now directly owns 34,057 shares of the company’s stock, valued at $6,166,360.42. The disclosure for this sale can be found here. Insiders sold a total of 14,062 shares of company stock valued at $2,544,079 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.

A number of research analysts have recently issued reports on the company. Wolfe Research set a $205.00 target price on Raytheon and gave the company a “buy” rating in a research report on Friday, April 26th. Zacks Investment Research lowered Raytheon from a “buy” rating to a “hold” rating in a report on Monday, April 29th. Jefferies Financial Group raised their price objective on Raytheon from $202.00 to $216.00 and gave the company a “buy” rating in a report on Monday, May 6th. UBS Group lowered Raytheon from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $220.00 to $200.00 in a report on Wednesday, April 3rd. Finally, Alembic Global Advisors upgraded Raytheon from a “neutral” rating to an “overweight” rating and set a $214.00 price objective on the stock in a report on Tuesday, February 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $209.69.

Shares of RTN stock opened at $176.20 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.31 and a current ratio of 1.43. The firm has a market capitalization of $48.84 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 1.33 and a beta of 0.91. Raytheon has a fifty-two week low of $144.27 and a fifty-two week high of $214.76.

Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, April 25th. The aerospace company reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.32. The company had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.58 billion. Raytheon had a return on equity of 26.27% and a net margin of 11.11%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.20 EPS. Sell-side analysts expect that Raytheon will post 11.61 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be paid a $0.9425 dividend. This represents a $3.77 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Tuesday, July 9th. Raytheon’s dividend payout ratio (DPR) is presently 35.53%.

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Raytheon Company Profile

Raytheon Company develops integrated products, services, and solutions for the 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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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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