First Command Financial Services Inc. trimmed its position in Raytheon (NYSE:RTN) by 2.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,256 shares of the aerospace company’s stock after selling 144 shares during the quarter. Raytheon makes up approximately 0.6% of First Command Financial Services Inc.’s portfolio, making the stock its 28th largest position. First Command Financial Services Inc.’s holdings in Raytheon were worth $1,139,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in RTN. WP Advisors LLC acquired a new stake in shares of Raytheon during the first quarter worth approximately $26,000. Athena Capital Advisors LLC acquired a new stake in shares of Raytheon during the fourth quarter worth approximately $26,000. Sontag Advisory LLC acquired a new stake in shares of Raytheon during the fourth quarter worth approximately $26,000. Truvestments Capital LLC acquired a new stake in shares of Raytheon during the first quarter worth approximately $35,000. Finally, Bremer Trust National Association acquired a new stake in shares of Raytheon during the fourth quarter worth approximately $33,000. Institutional investors own 75.81% of the company’s stock.
In related news, CAO Michael J. Wood sold 523 shares of the business’s stock in a transaction on Friday, March 29th. The shares were sold at an average price of $181.57, for a total transaction of $94,961.11. Following the transaction, the chief accounting officer now owns 13,996 shares of the company’s stock, valued at $2,541,253.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael J. Wood sold 427 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $177.58, for a total transaction of $75,826.66. Following the transaction, the vice president now directly owns 13,165 shares in the company, valued at approximately $2,337,840.70. The disclosure for this sale can be found here. In the last three months, insiders sold 21,657 shares of company stock worth $3,940,619. Insiders own 0.19% of the company’s stock.
RTN has been the subject of a number of analyst reports. ValuEngine cut shares of Raytheon from a “hold” rating to a “sell” rating in a research note on Thursday, January 10th. Argus reiterated a “buy” rating and issued a $200.00 target price on shares of Raytheon in a research note on Friday, February 1st. Susquehanna Bancshares initiated coverage on shares of Raytheon in a research note on Thursday, January 10th. They issued a “positive” rating and a $187.00 target price for the company. Alembic Global Advisors upgraded shares of 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. Finally, Zacks Investment Research cut shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, December 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. Raytheon presently has a consensus rating of “Buy” and a consensus price target of $213.46.
NYSE:RTN opened at $182.76 on Tuesday. Raytheon has a 12 month low of $144.27 and a 12 month high of $229.75. The company has a market capitalization of $52.05 billion, a PE ratio of 17.23, a PEG ratio of 1.40 and a beta of 0.99. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.37 and a current ratio of 1.46.
Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, January 31st. The aerospace company reported $2.93 EPS for the quarter, beating the Zacks’ consensus estimate of $2.89 by $0.04. Raytheon had a net margin of 10.75% and a return on equity of 25.81%. The company had revenue of $7.36 billion for the quarter, compared to analyst estimates of $7.50 billion. During the same quarter last year, the firm posted $2.03 earnings per share. Analysts predict 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. Stockholders of record on Wednesday, April 10th will be given a $0.9425 dividend. This is a positive change from Raytheon’s previous quarterly dividend of $0.87. The ex-dividend date is Tuesday, April 9th. This represents a $3.77 dividend on an annualized basis and a dividend yield of 2.06%. Raytheon’s dividend payout ratio (DPR) is currently 35.53%.
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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