Coldstream Capital Management Inc. raised its position in Raytheon Company (NYSE:RTN) by 1.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,343 shares of the aerospace company’s stock after buying an additional 158 shares during the period. Coldstream Capital Management Inc.’s holdings in Raytheon were worth $2,187,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the company. Crestwood Advisors Group LLC purchased a new position in Raytheon during the first quarter worth $110,000. Oakworth Capital Inc. raised its stake in shares of Raytheon by 156.1% in the first quarter. Oakworth Capital Inc. now owns 730 shares of the aerospace company’s stock worth $111,000 after buying an additional 445 shares during the period. Signature Estate & Investment Advisors LLC bought a new stake in shares of Raytheon during the first quarter worth about $111,000. Orrstown Financial Services Inc. raised its stake in shares of Raytheon by 22.6% in the first quarter. Orrstown Financial Services Inc. now owns 759 shares of the aerospace company’s stock worth $116,000 after buying an additional 140 shares during the period. Finally, Adirondack Trust Co. raised its stake in shares of Raytheon by 7.1% in the first quarter. Adirondack Trust Co. now owns 803 shares of the aerospace company’s stock worth $122,000 after buying an additional 53 shares during the period. 74.84% of the stock is owned by hedge funds and other institutional investors.
Shares of Raytheon Company (NYSE:RTN) traded up 1.47% during mid-day trading on Friday, reaching $172.02. 1,252,723 shares of the company were exchanged. The stock has a market capitalization of $49.93 billion, a P/E ratio of 23.76 and a beta of 0.58. The firm has a 50-day moving average price of $164.98 and a 200 day moving average price of $156.53. Raytheon Company has a 12 month low of $132.89 and a 12 month high of $172.40.
Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.15. The firm had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.24 billion. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.38 earnings per share. Equities research analysts anticipate that Raytheon Company will post $7.51 EPS for the current fiscal 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 paid a dividend of $0.7975 per share. The ex-dividend date of this dividend is Friday, June 30th. This represents a $3.19 dividend on an annualized basis and a yield of 1.85%. Raytheon’s payout ratio is 43.94%.
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RTN has been the topic of several research reports. Cowen and Company reiterated a “buy” rating and set a $170.00 price objective on shares of Raytheon in a research note on Monday, April 10th. Vetr lowered shares of Raytheon from a “buy” rating to a “hold” rating and set a $166.27 price objective on the stock. in a research note on Tuesday, May 9th. Jefferies Group LLC reiterated a “buy” rating and set a $172.00 price objective on shares of Raytheon in a research note on Monday, June 26th. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $175.00 price objective on the stock in a research note on Monday, May 1st. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $181.00 price target on shares of Raytheon in a research note on Friday, June 2nd. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $170.41.
In other news, VP Taylor W. Lawrence sold 2,756 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $162.04, for a total value of $446,582.24. Following the completion of the transaction, the vice president now owns 53,285 shares of the company’s stock, valued at $8,634,301.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Wesley D. Kremer sold 1,010 shares of the stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $163.10, for a total transaction of $164,731.00. Following the completion of the transaction, the vice president now directly 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 have sold 15,911 shares of company stock worth $2,580,752 over 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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