Syntal Capital Partners LLC lifted its stake in shares of Raytheon (NYSE:RTN) by 13.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,194 shares of the aerospace company’s stock after acquiring an additional 1,091 shares during the period. Raytheon accounts for approximately 0.7% of Syntal Capital Partners LLC’s portfolio, making the stock its 28th biggest position. Syntal Capital Partners LLC’s holdings in Raytheon were worth $1,984,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. raised its holdings in Raytheon by 9.2% in the 4th quarter. Victory Capital Management Inc. now owns 23,175 shares of the aerospace company’s stock valued at $4,353,000 after buying an additional 1,949 shares during the period. Candriam Luxembourg S.C.A. raised its holdings in Raytheon by 8.0% in the 4th quarter. Candriam Luxembourg S.C.A. now owns 30,210 shares of the aerospace company’s stock valued at $5,676,000 after buying an additional 2,245 shares during the period. Barings LLC raised its holdings in Raytheon by 80.0% in the 4th quarter. Barings LLC now owns 27,944 shares of the aerospace company’s stock valued at $5,250,000 after buying an additional 12,419 shares during the period. Cetera Advisors LLC raised its holdings in Raytheon by 124.8% in the 4th quarter. Cetera Advisors LLC now owns 12,868 shares of the aerospace company’s stock valued at $2,422,000 after buying an additional 7,144 shares during the period. Finally, Pinnacle Financial Partners Inc. raised its holdings in Raytheon by 92.7% in the 4th quarter. Pinnacle Financial Partners Inc. now owns 3,098 shares of the aerospace company’s stock valued at $582,000 after buying an additional 1,490 shares during the period. Institutional investors and hedge funds own 72.69% of the company’s stock.
Shares of Raytheon stock opened at $193.18 on Friday. Raytheon has a one year low of $160.20 and a one year high of $229.75. The stock has a market cap of $55.42 billion, a PE ratio of 25.35, a P/E/G ratio of 1.70 and a beta of 0.69. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.62 and a quick ratio of 1.52.
Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, April 26th. The aerospace company reported $2.20 EPS for the quarter, topping the Zacks’ 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 business had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the previous year, the company posted $1.74 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. sell-side analysts predict that Raytheon will post 9.87 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 2nd. Stockholders of record on Wednesday, July 11th will be given a dividend of $0.8675 per share. This represents a $3.47 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Tuesday, July 10th. Raytheon’s dividend payout ratio is presently 45.54%.
Several brokerages recently issued reports on RTN. Wolfe Research upgraded shares of Raytheon from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 8th. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $245.00 price objective on the stock in a report on Tuesday, March 27th. Credit Suisse Group restated a “neutral” rating and issued a $219.00 price objective (down from $250.00) on shares of Raytheon in a report on Tuesday, May 22nd. Barclays initiated coverage on shares of Raytheon in a report on Thursday, March 29th. They issued an “equal weight” rating and a $239.00 price objective on the stock. Finally, Cowen reiterated a “buy” rating and set a $235.00 price target on shares of Raytheon in a research note on Tuesday, April 17th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $220.23.
In other news, VP Taylor W. Lawrence sold 1,241 shares of the business’s stock in a transaction dated Monday, June 4th. The stock was sold at an average price of $212.14, for a total transaction of $263,265.74. Following the completion of the transaction, the vice president now directly owns 46,999 shares of the company’s stock, valued at $9,970,367.86. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Michael J. Wood sold 621 shares of the business’s stock in a transaction dated Monday, June 4th. The stock was sold at an average price of $212.13, for a total value of $131,732.73. Following the transaction, the chief accounting officer now directly owns 14,462 shares of the company’s stock, valued at $3,067,824.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,916 shares of company stock valued at $3,373,281. Corporate insiders own 0.19% of the company’s stock.
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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