GHP Investment Advisors Inc. Decreases Holdings in Raytheon (RTN)
GHP Investment Advisors Inc. reduced its stake in Raytheon (NYSE:RTN) by 5.7% in the first quarter, HoldingsChannel.com reports. The fund owned 1,328 shares of the aerospace company’s stock after selling 80 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Raytheon were worth $242,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Korea Investment CORP boosted its stake in Raytheon by 2.3% in the fourth quarter. Korea Investment CORP now owns 383,753 shares of the aerospace company’s stock valued at $58,849,000 after acquiring an additional 8,800 shares during the period. Peak Asset Management LLC boosted its stake in Raytheon by 5.9% in the fourth quarter. Peak Asset Management LLC now owns 45,135 shares of the aerospace company’s stock valued at $6,921,000 after acquiring an additional 2,507 shares during the period. Duality Advisers LP acquired a new position in Raytheon in the fourth quarter valued at approximately $8,361,000. LSV Asset Management boosted its stake in Raytheon by 534.5% in the fourth quarter. LSV Asset Management now owns 229,200 shares of the aerospace company’s stock valued at $35,147,000 after acquiring an additional 193,076 shares during the period. Finally, Millennium Management LLC boosted its stake in Raytheon by 237.8% in the fourth quarter. Millennium Management LLC now owns 1,004,199 shares of the aerospace company’s stock valued at $153,994,000 after acquiring an additional 706,918 shares during the period. Institutional investors own 74.44% of the company’s stock.
In related news, VP Michael J. Wood sold 427 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $177.58, for a total transaction of $75,826.66. Following the sale, the vice president now owns 13,165 shares of the company’s stock, valued at $2,337,840.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Anthony F. O’brien sold 9,656 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now directly owns 34,057 shares in the company, valued at approximately $6,166,360.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,062 shares of company stock worth $2,544,079. 0.18% of the stock is owned by corporate insiders.
Shares of NYSE RTN opened at $174.50 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.31. The company has a market cap of $49.38 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 1.35 and a beta of 0.96. Raytheon has a 12-month low of $144.27 and a 12-month high of $214.76.
Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, April 25th. The aerospace company reported $2.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.45 by $0.32. The business had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.58 billion. Raytheon had a return on equity of 26.27% and a net margin of 11.11%. The business’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.20 earnings per share. On average, analysts predict that Raytheon will post 11.61 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a dividend of $0.9425 per share. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $3.77 annualized dividend and a yield of 2.16%. Raytheon’s payout ratio is 35.53%.
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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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