Ipswich Investment Management Co. Inc. grew its holdings in shares of Raytheon (NYSE:RTN) by 6.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,740 shares of the aerospace company’s stock after buying an additional 1,576 shares during the quarter. Raytheon accounts for about 1.7% of Ipswich Investment Management Co. Inc.’s investment portfolio, making the stock its 14th largest holding. Ipswich Investment Management Co. Inc.’s holdings in Raytheon were worth $5,051,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc lifted its stake in Raytheon by 0.9% during 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 last quarter. BlackRock Inc. lifted its stake in Raytheon by 1.3% during the fourth quarter. BlackRock Inc. now owns 22,838,110 shares of the aerospace company’s stock worth $3,502,223,000 after purchasing an additional 288,392 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Raytheon by 8,792.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,674,238 shares of the aerospace company’s stock worth $63,000 after purchasing an additional 9,565,442 shares during the last quarter. Macquarie Group Ltd. lifted its stake in Raytheon by 11.3% during the fourth quarter. Macquarie Group Ltd. now owns 3,975,205 shares of the aerospace company’s stock worth $609,599,000 after purchasing an additional 402,785 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. lifted its stake in Raytheon by 9.4% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 3,880,490 shares of the aerospace company’s stock worth $595,074,000 after purchasing an additional 334,298 shares during the last quarter. Institutional investors own 75.77% of the company’s stock.
Several equities analysts recently issued reports on the company. UBS Group cut Raytheon from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $220.00 to $200.00 in a research note on Wednesday, April 3rd. ValuEngine upgraded Raytheon from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. Susquehanna Bancshares assumed coverage on Raytheon in a research note on Thursday, January 10th. They set a “positive” rating and a $187.00 price objective on the stock. Argus restated a “buy” rating and set a $200.00 price objective on shares of Raytheon in a research note on Friday, February 1st. Finally, Zacks Investment Research cut Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, December 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $213.46.
Shares of NYSE RTN opened at $184.41 on Monday. Raytheon has a 1-year low of $144.27 and a 1-year high of $229.75. The company has a current ratio of 1.46, a quick ratio of 1.37 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $51.22 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 1.38 and a beta of 0.99.
Raytheon (NYSE:RTN) last issued its earnings results on Thursday, January 31st. The aerospace company reported $2.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.89 by $0.04. Raytheon had a return on equity of 25.81% and a net margin of 10.75%. The firm had revenue of $7.36 billion for the quarter, compared to analyst estimates of $7.50 billion. During the same period last year, the company earned $2.03 earnings per share. Sell-side analysts anticipate that Raytheon will post 11.59 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Wednesday, April 10th will be given a $0.9425 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This is a positive change from Raytheon’s previous quarterly dividend of $0.87. This represents a $3.77 annualized dividend and a yield of 2.04%. Raytheon’s dividend payout ratio (DPR) is currently 35.53%.
In other news, CAO Michael J. Wood sold 3,501 shares of the firm’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $183.86, for a total transaction of $643,693.86. Following the transaction, the chief accounting officer now directly owns 19,217 shares of the company’s stock, valued at $3,533,237.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Frank R. Jimenez sold 4,094 shares of the firm’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $183.89, for a total value of $752,845.66. Following the transaction, the vice president now directly owns 36,964 shares in the company, valued at $6,797,309.96. The disclosure for this sale can be found here. Insiders sold 21,657 shares of company stock worth $3,940,619 over the last ninety days. 0.19% of the stock is owned by corporate insiders.
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Raytheon Company Profile
Raytheon Company develops integrated products, services, and solutions for 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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