Tiedemann Wealth Management LLC increased its position in Raytheon Company (NYSE:RTN) by 84.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,704 shares of the aerospace company’s stock after buying an additional 2,609 shares during the period. Tiedemann Wealth Management LLC’s holdings in Raytheon were worth $870,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Lyell Wealth Management LP bought a new position in Raytheon during the fourth quarter worth $2,181,000. Mayo Investment Advisers LLC boosted its position in Raytheon by 43.5% in the fourth quarter. Mayo Investment Advisers LLC now owns 8,250 shares of the aerospace company’s stock worth $1,172,000 after buying an additional 2,500 shares in the last quarter. Renaissance Technologies LLC boosted its position in Raytheon by 1,075.1% in the fourth quarter. Renaissance Technologies LLC now owns 774,400 shares of the aerospace company’s stock worth $109,965,000 after buying an additional 708,500 shares in the last quarter. Greenwood Capital Associates LLC boosted its position in Raytheon by 0.7% in the fourth quarter. Greenwood Capital Associates LLC now owns 18,394 shares of the aerospace company’s stock worth $2,612,000 after buying an additional 133 shares in the last quarter. Finally, Ativo Capital Management LLC boosted its position in Raytheon by 79.9% in the fourth quarter. Ativo Capital Management LLC now owns 22,128 shares of the aerospace company’s stock worth $3,142,000 after buying an additional 9,828 shares in the last quarter. Hedge funds and other institutional investors own 74.84% of the company’s stock.
Raytheon Company (RTN) traded up 1.47% during midday trading on Friday, hitting $172.02. The company had a trading volume of 1,252,723 shares. The company has a market cap of $50.18 billion, a P/E ratio of 23.77 and a beta of 0.58. The company’s 50 day moving average is $164.98 and its 200-day moving average is $156.53. Raytheon Company has a one year low of $132.89 and a one year high of $172.40.
Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.15. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The company had revenue of $6.28 billion during the quarter, compared to the consensus estimate of $6.24 billion. During the same quarter last year, the company earned $2.38 EPS. The company’s quarterly revenue was up 4.2% on a year-over-year basis. On average, equities analysts predict that Raytheon Company will post $7.51 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 3rd. Shareholders of record on Wednesday, July 5th will be given a $0.7975 dividend. The ex-dividend date of this dividend is Friday, June 30th. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.85%. Raytheon’s dividend payout ratio is currently 43.94%.
A number of equities analysts have issued reports on RTN shares. Credit Suisse Group reaffirmed a “buy” rating and issued a $170.00 target price on shares of Raytheon in a research report on Friday, March 31st. Cowen and Company reaffirmed a “buy” rating and issued a $170.00 target price on shares of Raytheon in a research report on Monday, April 10th. Stifel Nicolaus upped their target price on Raytheon from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Deutsche Bank AG upped their target price on Raytheon from $156.00 to $160.00 and gave the company a “hold” rating in a research report on Friday, April 28th. Finally, Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $175.00 target price on the stock in a research report on Monday, May 1st. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $168.45.
In related news, CAO Michael J. Wood sold 1,442 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $162.98, for a total transaction of $235,017.16. Following the completion of the transaction, the chief accounting officer now owns 18,470 shares in the company, valued at approximately $3,010,240.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Wesley D. Kremer sold 1,010 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $163.10, for a total value of $164,731.00. Following the transaction, the vice president now owns 23,136 shares of the company’s stock, valued at approximately $3,773,481.60. The disclosure for this sale can be found here. Insiders sold a total of 15,911 shares of company stock valued at $2,580,752 in the last quarter. Corporate insiders own 0.19% of the company’s stock.
Raytheon Company Profile
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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