Raytheon (RTN) Stake Lowered by Segall Bryant & Hamill LLC
Segall Bryant & Hamill LLC lowered its holdings in Raytheon (NYSE:RTN) by 8.1% during the first quarter, Holdings Channel reports. The fund owned 162,701 shares of the aerospace company’s stock after selling 14,347 shares during the period. Segall Bryant & Hamill LLC’s holdings in Raytheon were worth $35,114,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. WealthPLAN Partners LLC purchased a new position in shares of Raytheon in the 1st quarter valued at about $301,000. Rainier Group Investment Advisory LLC purchased a new position in shares of Raytheon in the 1st quarter valued at about $103,000. Hilltop Holdings Inc. purchased a new position in shares of Raytheon in the 1st quarter valued at about $2,066,000. Highland Capital Management LP purchased a new position in shares of Raytheon in the 1st quarter valued at about $11,050,000. Finally, Kovack Advisors Inc. increased its holdings in shares of Raytheon by 11.9% in the 1st quarter. Kovack Advisors Inc. now owns 5,562 shares of the aerospace company’s stock valued at $1,200,000 after acquiring an additional 593 shares during the last quarter. Institutional investors and hedge funds own 72.71% of the company’s stock.
In other Raytheon news, VP Taylor W. Lawrence sold 1,088 shares of the stock in a transaction that occurred on Friday, March 23rd. The stock was sold at an average price of $215.02, for a total transaction of $233,941.76. Following the completion of the sale, the vice president now directly owns 51,657 shares of the company’s stock, valued at approximately $11,107,288.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Rebecca R. Rhoads sold 12,054 shares of the stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $212.09, for a total value of $2,556,532.86. Following the sale, the vice president now directly owns 26,266 shares of the company’s stock, valued at $5,570,755.94. The disclosure for this sale can be found here. Insiders have sold a total of 31,328 shares of company stock valued at $6,681,734 over the last ninety days. 0.19% of the stock is owned by insiders.
Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, April 26th. The aerospace company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.10. Raytheon had a return on equity of 22.69% and a net margin of 8.40%. The company had revenue of $6.27 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same period last year, the firm earned $1.74 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. equities analysts predict that Raytheon will post 9.87 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 2nd. Shareholders of record on Wednesday, July 11th will be given a dividend of $0.8675 per share. The ex-dividend date of this dividend is Tuesday, July 10th. This represents a $3.47 dividend on an annualized basis and a yield of 1.68%. Raytheon’s payout ratio is 45.54%.
A number of research firms have recently commented on RTN. Wolfe Research upgraded Raytheon from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 8th. Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $245.00 price objective on the stock in a report on Tuesday, March 27th. Credit Suisse Group reiterated a “neutral” rating and issued a $219.00 price objective (down previously from $250.00) on shares of Raytheon in a report on Tuesday, May 22nd. Barclays began coverage on Raytheon in a research note on Thursday, March 29th. They set an “equal weight” rating and a $239.00 price target on the stock. Finally, Cowen restated a “buy” rating and set a $235.00 price target on shares of Raytheon in a research note on Tuesday, April 17th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $220.23.
Raytheon Company develops integrated products, services, and solutions for 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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