Farmers National Bank Buys Shares of 146 Raytheon (RTN)

Farmers National Bank bought a new stake in shares of Raytheon (NYSE:RTN) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 146 shares of the aerospace company’s stock, valued at approximately $27,000.

Other institutional investors and hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. increased its position in Raytheon by 10.5% in the third quarter. JPMorgan Chase & Co. now owns 1,039,876 shares of the aerospace company’s stock worth $214,900,000 after purchasing an additional 99,186 shares during the period. Vanguard Group Inc increased its position in Raytheon by 0.9% in the third quarter. Vanguard Group Inc now owns 23,074,017 shares of the aerospace company’s stock worth $4,768,477,000 after purchasing an additional 212,408 shares during the period. Bell Asset Management Ltd increased its position in Raytheon by 50.0% in the fourth quarter. Bell Asset Management Ltd now owns 40,735 shares of the aerospace company’s stock worth $6,247,000 after purchasing an additional 13,573 shares during the period. Rossmore Private Capital increased its position in Raytheon by 4.1% in the fourth quarter. Rossmore Private Capital now owns 4,946 shares of the aerospace company’s stock worth $758,000 after purchasing an additional 196 shares during the period. Finally, Bank of Montreal Can increased its position in Raytheon by 114.3% in the fourth quarter. Bank of Montreal Can now owns 636,908 shares of the aerospace company’s stock worth $97,670,000 after purchasing an additional 339,667 shares during the period. Institutional investors and hedge funds own 76.91% of the company’s stock.

A number of analysts recently commented on the company. UBS Group lowered Raytheon from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $220.00 to $200.00 in a research report on Wednesday, April 3rd. Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $205.00 price objective for the company in a research report on Wednesday, April 17th. Jefferies Financial Group lifted their price objective on Raytheon from $202.00 to $216.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Wolfe Research set a $205.00 price objective on Raytheon and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Alembic Global Advisors upgraded Raytheon from a “neutral” rating to an “overweight” rating and set a $214.00 price objective for the company in a research report on Tuesday, February 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $210.36.

In other news, VP Anthony F. O’brien sold 9,656 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $181.06, for a total transaction of $1,748,315.36. Following the completion of the transaction, the vice president now directly owns 34,057 shares in the company, valued at approximately $6,166,360.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Frank R. Jimenez sold 1,496 shares of the business’s stock in a transaction dated Friday, March 29th. The stock was sold at an average price of $181.58, for a total value of $271,643.68. Following the transaction, the vice president now owns 28,613 shares of the company’s stock, valued at $5,195,548.54. The disclosure for this sale can be found here. Insiders have sold a total of 14,062 shares of company stock valued at $2,544,079 over the last 90 days. Corporate insiders own 0.18% of the company’s stock.

Raytheon stock opened at $182.63 on Wednesday. The stock has a market cap of $49.81 billion, a PE ratio of 17.21, a P/E/G ratio of 1.35 and a beta of 0.96. Raytheon has a 1 year low of $144.27 and a 1 year high of $214.76. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.31.

Raytheon (NYSE:RTN) last posted its earnings results on Thursday, April 25th. The aerospace company reported $2.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.45 by $0.32. The company had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.58 billion. Raytheon had a return on equity of 26.27% and a net margin of 11.11%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.20 EPS. Equities analysts forecast that Raytheon will post 11.61 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Stockholders of record on Wednesday, April 10th were given a dividend of $0.9425 per share. This is a positive change from Raytheon’s previous quarterly dividend of $0.87. This represents a $3.77 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend was Tuesday, April 9th. Raytheon’s payout ratio is presently 35.53%.

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Raytheon Profile

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.

Further Reading: Convertible Shares

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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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