Sumitomo Life Insurance Co. raised its holdings in Raytheon (NYSE:RTN) by 6.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,829 shares of the aerospace company’s stock after buying an additional 777 shares during the period. Sumitomo Life Insurance Co.’s holdings in Raytheon were worth $3,039,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in RTN. Price T Rowe Associates Inc. MD raised its stake in Raytheon by 16.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 1,509,939 shares of the aerospace company’s stock valued at $262,548,000 after buying an additional 212,361 shares during the period. Voloridge Investment Management LLC bought a new stake in Raytheon in the second quarter valued at approximately $4,507,000. Integrated Wealth Concepts LLC raised its stake in Raytheon by 12.7% in the second quarter. Integrated Wealth Concepts LLC now owns 2,744 shares of the aerospace company’s stock valued at $447,000 after buying an additional 310 shares during the period. MidWestOne Financial Group Inc. bought a new stake in Raytheon in the second quarter valued at approximately $529,000. Finally, Cambridge Investment Research Advisors Inc. raised its stake in Raytheon by 0.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 57,456 shares of the aerospace company’s stock valued at $9,990,000 after buying an additional 265 shares during the period. Hedge funds and other institutional investors own 74.45% of the company’s stock.

Several research firms have recently commented on RTN. Cowen reaffirmed a “buy” rating and issued a $225.00 target price on shares of Raytheon in a research report on Thursday, October 24th. JPMorgan Chase & Co. set a $240.00 target price on Raytheon and gave the company a “buy” rating in a research report on Friday, October 25th. Sanford C. Bernstein upped their target price on Raytheon from $212.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, October 25th. Credit Suisse Group upped their target price on Raytheon from $230.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, Barclays set a $215.00 target price on Raytheon and gave the company a “hold” rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $221.80.

In related news, Director Stephen J. Hadley sold 1,900 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $232.00, for a total transaction of $440,800.00. Following the sale, the director now owns 8,750 shares of the company’s stock, valued at $2,030,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tracy A. Atkinson sold 500 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $215.48, for a total value of $107,740.00. Following the sale, the director now directly owns 4,376 shares in the company, valued at approximately $942,940.48. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Shares of Raytheon stock traded up $0.82 on Friday, hitting $231.05. The stock had a trading volume of 91,311 shares, compared to its average volume of 1,296,320. The stock has a market cap of $64.30 billion, a price-to-earnings ratio of 19.74, a price-to-earnings-growth ratio of 1.66 and a beta of 0.88. Raytheon has a twelve month low of $164.70 and a twelve month high of $233.48. The company has a quick ratio of 1.44, a current ratio of 1.54 and a debt-to-equity ratio of 0.38. The business’s 50 day moving average is $222.73 and its two-hundred day moving average is $202.56.

Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, October 24th. The aerospace company reported $3.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.86 by $0.22. The business had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.29 billion. Raytheon had a return on equity of 27.23% and a net margin of 11.47%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.25 earnings per share. As a group, equities analysts predict that Raytheon will post 11.88 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Wednesday, January 8th will be given a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Tuesday, January 7th. Raytheon’s dividend payout ratio is currently 35.53%.

About Raytheon

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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