Raytheon (RTN) Shares Bought by Stuart Chaussee & Associates Inc.
Stuart Chaussee & Associates Inc. grew its position in Raytheon (NYSE:RTN) by 262.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 773 shares of the aerospace company’s stock after buying an additional 560 shares during the period. Raytheon makes up 0.1% of Stuart Chaussee & Associates Inc.’s portfolio, making the stock its 23rd largest position. Stuart Chaussee & Associates Inc.’s holdings in Raytheon were worth $141,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc boosted its position in Raytheon by 0.9% in the 3rd quarter. Vanguard Group Inc now owns 23,074,017 shares of the aerospace company’s stock worth $4,768,477,000 after purchasing an additional 212,408 shares in the last quarter. Elite Wealth Management Inc. acquired a new position in shares of Raytheon during the 4th quarter worth approximately $215,000. Sumitomo Life Insurance Co. raised its stake in shares of Raytheon by 17.2% during the 4th quarter. Sumitomo Life Insurance Co. now owns 17,571 shares of the aerospace company’s stock worth $2,695,000 after buying an additional 2,583 shares during the period. Calamos Advisors LLC raised its stake in shares of Raytheon by 80.2% during the 4th quarter. Calamos Advisors LLC now owns 370,451 shares of the aerospace company’s stock worth $56,809,000 after buying an additional 164,853 shares during the period. Finally, Notis McConarty Edward acquired a new position in shares of Raytheon during the 4th quarter worth approximately $337,000. 74.93% of the stock is owned by institutional investors.
In related news, VP Anthony F. O’brien sold 9,656 shares of the 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 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 filing with the SEC, which can be accessed through the SEC website. Also, VP Michael J. Wood sold 427 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $177.58, for a total value of $75,826.66. Following the completion of the transaction, the vice president now directly owns 13,165 shares of the company’s stock, valued at $2,337,840.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,062 shares of company stock valued at $2,544,079. 0.18% of the stock is owned by corporate insiders.
Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, April 25th. The aerospace company reported $2.77 EPS for the quarter, beating the Thomson Reuters’ 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 in the prior year, the company earned $2.20 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. On average, sell-side analysts forecast that Raytheon will post 11.61 earnings per share for the current 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 is currently 35.53%.
Several research analysts have recently weighed in on the company. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a research note on Wednesday, April 17th. UBS Group downgraded Raytheon from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $220.00 to $200.00 in a research note on Wednesday, April 3rd. Argus reaffirmed a “buy” rating and set a $200.00 target price on shares of Raytheon in a research note on Friday, February 1st. Wolfe Research set a $205.00 target price on Raytheon and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, Jefferies Financial Group upped their target price on Raytheon from $202.00 to $216.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. Raytheon has a consensus rating of “Buy” and an average price target of $209.69.
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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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