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.

A number of equities analysts have commented on the company. Jefferies Financial Group lifted their target price on Raytheon from $202.00 to $216.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Zacks Investment Research downgraded Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, April 29th. Wolfe Research set a $205.00 price objective on Raytheon and gave the stock a “buy” rating in a research report on Friday, April 26th. UBS Group downgraded Raytheon from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $220.00 to $200.00 in a research 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 for the company in a research report on Tuesday, February 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $209.69.

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%.

TRADEMARK VIOLATION NOTICE: This article was first posted by Watch List News and is the property of of Watch List News. If you are reading this article on another publication, it was copied illegally and reposted in violation of US and international copyright laws. The original version of this article can be read at https://www.watchlistnews.com/ghp-investment-advisors-inc-decreases-holdings-in-raytheon-rtn/3029066.html.

Raytheon 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.

See Also: What is the Book Value of a Share?

Want to see what other hedge funds are holding RTN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raytheon (NYSE:RTN).

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

Receive News & Ratings for Raytheon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon and related companies with MarketBeat.com's FREE daily email newsletter.