Busey Trust CO lifted its position in shares of Raytheon (NYSE:RTN) by 3.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,297 shares of the aerospace company’s stock after purchasing an additional 1,893 shares during the quarter. Raytheon comprises 1.2% of Busey Trust CO’s investment portfolio, making the stock its 26th biggest holding. Busey Trust CO’s holdings in Raytheon were worth $11,071,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Rowland & Co. Investment Counsel ADV bought a new stake in shares of Raytheon in the fourth quarter worth $106,000. Daiwa SB Investments Ltd. boosted its stake in shares of Raytheon by 0.8% in the fourth quarter. Daiwa SB Investments Ltd. now owns 64,540 shares of the aerospace company’s stock worth $12,124,000 after acquiring an additional 510 shares during the period. Mitchell Mcleod Pugh & Williams Inc. lifted its position in shares of Raytheon by 21.7% in the fourth quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,460 shares of the aerospace company’s stock worth $274,000 after buying an additional 260 shares in the last quarter. Stonehearth Capital Management LLC purchased a new stake in shares of Raytheon in the fourth quarter worth about $103,000. Finally, Atria Investments LLC lifted its position in shares of Raytheon by 10.8% in the fourth quarter. Atria Investments LLC now owns 21,454 shares of the aerospace company’s stock worth $4,030,000 after buying an additional 2,096 shares in the last quarter. Institutional investors own 73.65% of the company’s stock.
In other news, CFO Anthony F. O’brien sold 10,503 shares of the stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $214.17, for a total value of $2,249,427.51. Following the sale, the chief financial officer now directly owns 35,328 shares in the company, valued at $7,566,197.76. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Michael J. Wood sold 523 shares of the stock in a transaction that occurred on Thursday, March 29th. The stock was sold at an average price of $214.30, for a total value of $112,078.90. Following the completion of the sale, the chief accounting officer now owns 15,773 shares in the company, valued at $3,380,153.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,969 shares of company stock worth $8,323,643. Company insiders own 0.19% of the company’s stock.
RTN has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Raytheon from a “buy” rating to a “hold” rating in a research report on Wednesday, April 25th. ValuEngine upgraded Raytheon from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Cowen reiterated a “buy” rating and issued a $235.00 target price on shares of Raytheon in a research report on Tuesday, April 17th. Morgan Stanley boosted their target price on Raytheon from $224.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Finally, Robert W. Baird reiterated a “buy” rating and issued a $237.00 target price on shares of Raytheon in a research report on Friday, January 26th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Raytheon currently has a consensus rating of “Buy” and an average price target of $220.53.
Shares of Raytheon opened at $210.62 on Friday, according to MarketBeat.com. The company has a current ratio of 1.62, a quick ratio of 1.52 and a debt-to-equity ratio of 0.46. Raytheon has a fifty-two week low of $209.06 and a fifty-two week high of $210.50. The company has a market capitalization of $60.37 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 1.85 and a beta of 0.70.
Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, April 26th. The aerospace company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.10. Raytheon had a return on equity of 22.69% and a net margin of 8.40%. The firm had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the prior year, the business posted $1.74 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. equities research analysts anticipate that Raytheon will post 9.87 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 10th. Stockholders of record on Wednesday, April 11th were issued a $0.8675 dividend. This represents a $3.47 annualized dividend and a dividend yield of 1.65%. This is an increase from Raytheon’s previous quarterly dividend of $0.80. The ex-dividend date was Tuesday, April 10th. Raytheon’s dividend payout ratio is presently 45.54%.
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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