Raytheon (RTN) Shares Sold by Hosking Partners LLP
Hosking Partners LLP reduced its position in Raytheon (NYSE:RTN) by 0.5% during the 1st quarter, HoldingsChannel reports. The firm owned 72,752 shares of the aerospace company’s stock after selling 364 shares during the quarter. Hosking Partners LLP’s holdings in Raytheon were worth $13,247,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alpha Omega Wealth Management LLC acquired a new position in Raytheon during the 1st quarter worth approximately $25,000. Athena Capital Advisors LLC acquired a new position in Raytheon during the 4th quarter worth approximately $26,000. Sontag Advisory LLC acquired a new position in Raytheon during the 4th quarter worth approximately $26,000. WP Advisors LLC acquired a new position in Raytheon during the 1st quarter worth approximately $26,000. Finally, Farmers National Bank acquired a new position in Raytheon during the 1st quarter worth approximately $27,000. 74.93% of the stock is currently owned by institutional investors and hedge funds.
In other news, CAO Michael J. Wood sold 543 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $180.72, for a total value of $98,130.96. Following the completion of the sale, the chief accounting officer now directly owns 15,081 shares in the company, valued at approximately $2,725,438.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 shares were sold at an average price of $181.06, for a total value of $1,748,315.36. Following the completion of the sale, the vice president now owns 34,057 shares of the company’s stock, valued at $6,166,360.42. The disclosure for this sale can be found here. Insiders have sold a total of 14,062 shares of company stock worth $2,544,079 over the last 90 days. 0.18% of the stock is owned by company insiders.
Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, April 25th. The aerospace company reported $2.77 earnings per share (EPS) for the quarter, topping 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 company had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.58 billion. During the same period in the previous year, the business earned $2.20 EPS. Raytheon’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, equities analysts forecast that Raytheon will post 11.61 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 9th. Shareholders of record on Wednesday, April 10th were issued a dividend of $0.9425 per share. The ex-dividend date was Tuesday, April 9th. 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%. Raytheon’s payout ratio is currently 35.53%.
Several research firms recently commented on RTN. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $205.00 price target on the stock in a research report on Wednesday, April 17th. UBS Group lowered Raytheon from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $220.00 to $200.00 in a research report on Wednesday, April 3rd. Argus reissued a “buy” rating and set a $200.00 price target on shares of Raytheon in a research report on Friday, February 1st. Wolfe Research set a $205.00 price target on Raytheon and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Jefferies Financial Group boosted their price target on Raytheon from $202.00 to $216.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. One investment 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’s stock. The stock currently 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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