Voloridge Investment Management LLC Raises Position in Raytheon (RTN)

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Voloridge Investment Management LLC increased its position in Raytheon (NYSE:RTN) by 114.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 115,802 shares of the aerospace company’s stock after buying an additional 61,751 shares during the quarter. Voloridge Investment Management LLC’s holdings in Raytheon were worth $17,758,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of RTN. Oregon Public Employees Retirement Fund raised its position in Raytheon by 8,792.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,674,238 shares of the aerospace company’s stock valued at $63,000 after purchasing an additional 9,565,442 shares during the period. Standard Life Aberdeen plc raised its position in Raytheon by 64.9% in the third quarter. Standard Life Aberdeen plc now owns 1,950,068 shares of the aerospace company’s stock valued at $403,010,000 after purchasing an additional 767,198 shares during the period. Pendal Group Ltd raised its position in Raytheon by 1,423.0% in the fourth quarter. Pendal Group Ltd now owns 736,834 shares of the aerospace company’s stock valued at $100,947,000 after purchasing an additional 688,455 shares during the period. BlackRock Inc. raised its position in Raytheon by 2.9% in the third quarter. BlackRock Inc. now owns 22,549,718 shares of the aerospace company’s stock valued at $4,660,126,000 after purchasing an additional 638,922 shares during the period. Finally, California Public Employees Retirement System raised its position in Raytheon by 43.2% in the fourth quarter. California Public Employees Retirement System now owns 1,485,530 shares of the aerospace company’s stock valued at $227,806,000 after purchasing an additional 448,012 shares during the period. 74.68% of the stock is currently owned by institutional investors and hedge funds.

RTN has been the subject of several recent analyst reports. ValuEngine downgraded Raytheon from a “hold” rating to a “sell” rating in a research note on Thursday, January 10th. Argus restated a “buy” rating and set a $200.00 target price on shares of Raytheon in a research note on Friday, February 1st. Susquehanna Bancshares initiated coverage on Raytheon in a research note on Thursday, January 10th. They set a “positive” rating and a $187.00 target price for the company. Barclays lowered their target price on Raytheon from $239.00 to $195.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 4th. Finally, Alembic Global Advisors upgraded Raytheon from a “neutral” rating to an “overweight” rating and set a $214.00 target price for the company in a research note on Tuesday, February 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $217.31.

In related news, VP Anthony F. O’brien sold 9,656 shares of Raytheon stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $181.06, for a total value 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 $6,166,360.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Frank R. Jimenez sold 4,094 shares of Raytheon stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $183.89, for a total value of $752,845.66. Following the completion of the transaction, the vice president now owns 36,964 shares of the company’s stock, valued at $6,797,309.96. The disclosure for this sale can be found here. Insiders sold 17,251 shares of company stock valued at $3,144,855 over the last quarter. Insiders own 0.19% of the company’s stock.

Shares of Raytheon stock traded up $1.70 during trading hours on Thursday, hitting $181.72. 13,835 shares of the company’s stock traded hands, compared to its average volume of 1,896,226. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.46 and a quick ratio of 1.37. The company has a market capitalization of $50.85 billion, a PE ratio of 17.13, a P/E/G ratio of 1.37 and a beta of 1.00. Raytheon has a twelve month low of $144.27 and a twelve month high of $229.75.

Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, January 31st. The aerospace company reported $2.93 EPS for the quarter, topping the Zacks’ consensus estimate of $2.89 by $0.04. The business had revenue of $7.36 billion during the quarter, compared to the consensus estimate of $7.50 billion. Raytheon had a return on equity of 25.81% and a net margin of 10.75%. During the same period last year, the firm earned $2.03 earnings per share. On average, equities analysts expect that Raytheon will post 11.59 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Wednesday, April 10th will be paid a $0.9425 dividend. This represents a $3.77 dividend on an annualized basis and a yield of 2.07%. This is an increase from Raytheon’s previous quarterly dividend of $0.87. Raytheon’s dividend payout ratio (DPR) is 32.70%.

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About Raytheon

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.

See Also: Book Value Per Share – BVPS

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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