Chemical Bank decreased its stake in Raytheon (NYSE:RTN) by 3.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,962 shares of the aerospace company’s stock after selling 106 shares during the period. Chemical Bank’s holdings in Raytheon were worth $539,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Korea Investment CORP lifted its stake in shares of 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 purchasing an additional 8,800 shares during the period. Peak Asset Management LLC raised its position in Raytheon by 5.9% during the fourth quarter. Peak Asset Management LLC now owns 45,135 shares of the aerospace company’s stock worth $6,921,000 after acquiring an additional 2,507 shares during the last quarter. Duality Advisers LP acquired a new position in Raytheon during the fourth quarter worth about $8,361,000. LSV Asset Management raised its position in Raytheon by 534.5% during the fourth quarter. LSV Asset Management now owns 229,200 shares of the aerospace company’s stock worth $35,147,000 after acquiring an additional 193,076 shares during the last quarter. Finally, Millennium Management LLC raised its position in Raytheon by 237.8% during the fourth quarter. Millennium Management LLC now owns 1,004,199 shares of the aerospace company’s stock worth $153,994,000 after acquiring an additional 706,918 shares during the last quarter. Hedge funds and other institutional investors own 76.91% of the company’s stock.

NYSE:RTN opened at $177.07 on Monday. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $49.56 billion, a PE ratio of 16.69, a PEG ratio of 1.35 and a beta of 0.96. Raytheon has a 1-year low of $144.27 and a 1-year high of $214.76.

Raytheon (NYSE:RTN) last posted 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 business had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.58 billion. Raytheon had a net margin of 11.11% and a return on equity of 26.27%. The company’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.20 earnings per share. Research analysts anticipate that Raytheon will post 11.61 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 9th. Stockholders of record on Wednesday, April 10th were given a $0.9425 dividend. This represents a $3.77 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date was Tuesday, April 9th. This is a positive change from Raytheon’s previous quarterly dividend of $0.87. Raytheon’s payout ratio is currently 35.53%.

A number of equities analysts have issued reports on RTN shares. Argus restated a “buy” rating and set a $200.00 target price on shares of Raytheon in a research report on Friday, February 1st. ValuEngine cut shares of Raytheon from a “hold” rating to a “sell” rating in a research report on Thursday, January 31st. Alembic Global Advisors upgraded shares of Raytheon from a “neutral” rating to an “overweight” rating and set a $214.00 target price for the company in a research report on Tuesday, February 5th. UBS Group cut shares of Raytheon from a “buy” rating to a “neutral” rating and cut their target price for the stock from $220.00 to $200.00 in a research report on Wednesday, April 3rd. Finally, Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a research report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $210.36.

In other news, VP Anthony F. O’brien sold 9,656 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were 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 owns 34,057 shares of the company’s stock, valued at $6,166,360.42. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Frank R. Jimenez sold 1,496 shares of the business’s stock in a transaction that occurred on Friday, March 29th. The shares were sold at an average price of $181.58, for a total transaction of $271,643.68. Following the completion of the transaction, the vice president now directly owns 28,613 shares of the company’s stock, valued at approximately $5,195,548.54. The disclosure for this sale can be found here. In the last three months, insiders sold 14,062 shares of company stock valued at $2,544,079. Company insiders own 0.18% of the company’s stock.

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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.

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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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