Granite Investment Partners LLC boosted its stake in Raytheon Company (NYSE:RTN) by 0.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,307 shares of the aerospace company’s stock after buying an additional 244 shares during the period. Granite Investment Partners LLC’s holdings in Raytheon Company were worth $7,062,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Raytheon Company by 6.6% in the fourth quarter. State Street Corp now owns 12,272,296 shares of the aerospace company’s stock worth $1,742,711,000 after buying an additional 759,970 shares in the last quarter. FMR LLC boosted its stake in Raytheon Company by 11.1% in the fourth quarter. FMR LLC now owns 7,540,397 shares of the aerospace company’s stock worth $1,070,737,000 after buying an additional 754,733 shares during the last quarter. AQR Capital Management LLC boosted its stake in Raytheon Company by 20.7% in the fourth quarter. AQR Capital Management LLC now owns 3,163,718 shares of the aerospace company’s stock worth $449,248,000 after buying an additional 541,525 shares during the last quarter. Pioneer Investment Management Inc. boosted its stake in Raytheon Company by 1.6% in the third quarter. Pioneer Investment Management Inc. now owns 2,701,161 shares of the aerospace company’s stock worth $367,710,000 after buying an additional 42,819 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Raytheon Company by 13.1% in the fourth quarter. Franklin Resources Inc. now owns 2,530,301 shares of the aerospace company’s stock worth $359,322,000 after buying an additional 293,403 shares during the last quarter. Institutional investors own 75.72% of the company’s stock.
Raytheon Company (NYSE:RTN) traded up 1.32% during midday trading on Friday, hitting $159.98. The stock had a trading volume of 558,525 shares. The stock has a 50-day moving average price of $155.16 and a 200 day moving average price of $149.67. Raytheon Company has a 12-month low of $128.69 and a 12-month high of $163.10. The firm has a market cap of $46.57 billion, a P/E ratio of 20.61 and a beta of 0.67.
Raytheon Company (NYSE:RTN) last released its earnings results on Thursday, April 27th. The aerospace company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.61 by $0.12. Raytheon Company had a net margin of 9.19% and a return on equity of 19.77%. The business had revenue of $6 billion during the quarter, compared to analyst estimates of $5.83 billion. During the same period in the prior year, the business earned $1.43 earnings per share. The business’s quarterly revenue was up 3.4% on a year-over-year basis. On average, equities analysts anticipate that Raytheon Company will post $7.48 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 11th. Investors of record on Wednesday, April 12th were paid a dividend of $0.7975 per share. The ex-dividend date was Monday, April 10th. This is a positive change from Raytheon Company’s previous quarterly dividend of $0.73. This represents a $3.19 annualized dividend and a yield of 2.02%. Raytheon Company’s dividend payout ratio is currently 39.38%.
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A number of analysts have commented on RTN shares. Vetr cut Raytheon Company from a “buy” rating to a “hold” rating and set a $160.62 price target for the company. in a research report on Monday. Zacks Investment Research raised Raytheon Company from a “hold” rating to a “buy” rating and set a $175.00 price target for the company in a research report on Monday, May 1st. Deutsche Bank AG lifted their price target on Raytheon Company from $156.00 to $160.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Stifel Nicolaus lifted their price target on Raytheon Company from $160.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Finally, Cowen and Company reissued a “buy” rating and issued a $170.00 price objective on shares of Raytheon Company in a report on Monday, April 10th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $166.36.
In other news, VP Frank R. Jimenez sold 1,275 shares of the business’s stock in a transaction that occurred on Thursday, April 13th. The shares were sold at an average price of $151.00, for a total transaction of $192,525.00. Following the sale, the vice president now owns 30,001 shares in the company, valued at $4,530,151. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Taylor W. Lawrence sold 1,036 shares of the business’s stock in a transaction that occurred on Monday, March 27th. The shares were sold at an average price of $149.96, for a total transaction of $155,358.56. Following the sale, the vice president now owns 51,517 shares in the company, valued at approximately $7,725,489.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,776 shares of company stock valued at $2,257,281. Company insiders own 0.21% of the company’s stock.
About Raytheon Company
Raytheon Company is a technology company, which specializes in defense and other government markets. The Company develops integrated products, services and solutions in various markets, including sensing; effects; command, control, communications, computers, cyber and intelligence; mission support, and cybersecurity.
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