Global Retirement Partners LLC trimmed its stake in shares of Raytheon (NYSE:RTN) by 33.4% in the first quarter, HoldingsChannel.com reports. The fund owned 313 shares of the aerospace company’s stock after selling 157 shares during the period. Global Retirement Partners LLC’s holdings in Raytheon were worth $57,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Alpha Omega Wealth Management LLC acquired a new stake in shares of Raytheon in the 1st quarter valued at approximately $25,000. Athena Capital Advisors LLC acquired a new stake in shares of Raytheon in the 4th quarter valued at approximately $26,000. Sontag Advisory LLC acquired a new stake in shares of Raytheon in the 4th quarter valued at approximately $26,000. WP Advisors LLC acquired a new stake in shares of Raytheon in the 1st quarter valued at approximately $26,000. Finally, Bremer Trust National Association acquired a new stake in shares of Raytheon in the 4th quarter valued at approximately $33,000. 76.91% of the stock is owned by institutional investors.

In related news, VP Anthony F. O’brien sold 9,656 shares of the firm’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 completion of the transaction, the vice president now directly owns 34,057 shares of the company’s stock, valued at approximately $6,166,360.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Michael J. Wood sold 543 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $180.72, for a total value of $98,130.96. Following the completion of the transaction, the chief accounting officer now directly owns 15,081 shares of the company’s stock, valued at $2,725,438.32. 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. 0.18% of the stock is currently owned by company insiders.

Several research firms have recently commented on RTN. Jefferies Financial Group raised their price target on Raytheon from $202.00 to $216.00 and gave the company a “buy” rating in a report on Monday, May 6th. Zacks Investment Research cut Raytheon from a “buy” rating to a “hold” rating in a report on Monday, April 29th. Wolfe Research set a $205.00 price target on Raytheon and gave the company a “buy” rating in a report on Friday, April 26th. UBS Group cut Raytheon from a “buy” rating to a “neutral” rating and reduced their price target for the company from $220.00 to $200.00 in a report on Wednesday, April 3rd. Finally, Alembic Global Advisors raised Raytheon from a “neutral” rating to an “overweight” rating and set a $214.00 price target for the company in a report on Tuesday, February 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $210.36.

NYSE RTN opened at $180.67 on Tuesday. Raytheon has a 1-year low of $144.27 and a 1-year high of $214.76. The company has a market capitalization of $49.81 billion, a P/E ratio of 17.03, a PEG ratio of 1.35 and a beta of 0.96. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 0.36.

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

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Wednesday, April 10th were paid a $0.9425 dividend. This is an increase from Raytheon’s previous quarterly dividend of $0.87. This represents a $3.77 annualized dividend and a yield of 2.09%. The ex-dividend date was Tuesday, April 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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