Raytheon (RTN) Stake Increased by First Hawaiian Bank

First Hawaiian Bank increased its holdings in Raytheon (NYSE:RTN) by 30.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,987 shares of the aerospace company’s stock after buying an additional 2,317 shares during the period. First Hawaiian Bank’s holdings in Raytheon were worth $1,818,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Athena Capital Advisors LLC acquired a new position in shares of Raytheon during the fourth quarter worth $26,000. Sontag Advisory LLC acquired a new position in shares of Raytheon during the fourth quarter worth $26,000. Bremer Trust National Association acquired a new position in shares of Raytheon during the fourth quarter worth $33,000. Laurel Wealth Advisors LLC acquired a new position in shares of Raytheon during the fourth quarter worth $34,000. Finally, Proficio Capital Partners LLC increased its position in shares of Raytheon by 42.9% during the fourth quarter. Proficio Capital Partners LLC now owns 223 shares of the aerospace company’s stock worth $34,000 after purchasing an additional 67 shares in the last quarter. 75.86% of the stock is owned by institutional investors.

NYSE:RTN traded down $8.08 during mid-day trading on Thursday, hitting $177.37. The company’s stock had a trading volume of 4,039,103 shares, compared to its average volume of 1,953,731. Raytheon has a 1 year low of $144.27 and a 1 year high of $214.76. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.37 and a current ratio of 1.46. The firm has a market cap of $52.94 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 1.43 and a beta of 0.99.

Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, April 25th. The aerospace company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.45 by $0.32. Raytheon had a net margin of 10.75% and a return on equity of 25.81%. The company had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.58 billion. During the same period in the prior year, the company earned $2.20 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis. As a group, equities research analysts predict that Raytheon will post 11.59 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Wednesday, April 10th will be issued a $0.9425 dividend. This represents a $3.77 annualized dividend and a yield of 2.13%. This is a positive change from Raytheon’s previous quarterly dividend of $0.87. The ex-dividend date is Tuesday, April 9th. Raytheon’s dividend payout ratio is presently 35.53%.

In other news, CAO Michael J. Wood sold 3,501 shares of the stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $183.86, for a total transaction of $643,693.86. Following the sale, the chief accounting officer now directly owns 19,217 shares of the company’s stock, valued at approximately $3,533,237.62. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Michael J. Wood sold 427 shares of the stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $177.58, for a total transaction of $75,826.66. Following the sale, the vice president now directly owns 13,165 shares in the company, valued at $2,337,840.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,657 shares of company stock worth $3,940,619. 0.18% of the stock is owned by corporate insiders.

A number of equities analysts have recently issued reports on RTN shares. Argus reaffirmed a “buy” rating and set a $200.00 price target on shares of Raytheon in a research report on Friday, February 1st. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $205.00 target price on the stock in a research report on Wednesday, April 17th. Citigroup cut their target price on Raytheon from $230.00 to $208.00 and set a “buy” rating on the stock in a research report on Monday, January 14th. ValuEngine raised Raytheon from a “sell” rating to a “hold” rating in a research report on Thursday, January 24th. Finally, UBS Group downgraded Raytheon from a “buy” rating to a “neutral” rating and cut their target price for the company from $220.00 to $200.00 in a research report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $210.33.

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Raytheon 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.

Further Reading: Strike Price

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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