Sandy Spring Bank Has $5.29 Million Position in Raytheon (RTN)

Sandy Spring Bank boosted its holdings in Raytheon (NYSE:RTN) by 6.5% during the first quarter, Holdings Channel reports. The fund owned 29,060 shares of the aerospace company’s stock after buying an additional 1,779 shares during the quarter. Sandy Spring Bank’s holdings in Raytheon were worth $5,291,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Alpha Omega Wealth Management LLC bought a new position in Raytheon during the 1st quarter valued at approximately $25,000. Athena Capital Advisors LLC purchased a new position in shares of Raytheon in the 4th quarter worth $26,000. Sontag Advisory LLC purchased a new position in shares of Raytheon in the 4th quarter worth $26,000. WP Advisors LLC purchased a new position in shares of Raytheon in the 1st quarter worth $26,000. Finally, Bremer Trust National Association purchased a new position in shares of Raytheon in the 4th quarter worth $33,000. Institutional investors and hedge funds own 76.91% of the company’s stock.

NYSE RTN opened at $177.07 on Friday. The firm has a market cap of $50.22 billion, a P/E ratio of 17.25, a P/E/G ratio of 1.37 and a beta of 0.96. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 0.36. Raytheon has a fifty-two week low of $144.27 and a fifty-two week high of $214.76.

Raytheon (NYSE:RTN) last released its earnings results on Thursday, April 25th. The aerospace company reported $2.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.45 by $0.32. The company had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.58 billion. Raytheon had a return on equity of 26.27% and a net margin of 11.11%. Raytheon’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.20 earnings per share. On average, equities research analysts anticipate that Raytheon will post 11.61 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Wednesday, April 10th were given a dividend of $0.9425 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This is an increase from Raytheon’s previous quarterly dividend of $0.87. This represents a $3.77 annualized dividend and a yield of 2.13%. Raytheon’s payout ratio is 35.53%.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $205.00 price target on the stock in a research note on Wednesday, April 17th. Jefferies Financial Group raised their price target on Raytheon from $202.00 to $216.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. ValuEngine upgraded Raytheon from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. UBS Group downgraded Raytheon from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $220.00 to $200.00 in a research note on Wednesday, April 3rd. Finally, Argus restated a “buy” rating and issued a $200.00 price target on shares of Raytheon in a research note on Friday, February 1st. One 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’s stock. Raytheon currently has a consensus rating of “Buy” and a consensus price target of $210.36.

In related news, CAO Michael J. Wood sold 543 shares of Raytheon stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $180.72, for a total transaction of $98,130.96. Following the transaction, the chief accounting officer now directly owns 15,081 shares in the company, valued at $2,725,438.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Frank R. Jimenez sold 1,496 shares of Raytheon stock in a transaction on Friday, March 29th. The shares were sold at an average price of $181.58, for a total value of $271,643.68. Following the transaction, the vice president now owns 28,613 shares in the company, valued at $5,195,548.54. The disclosure for this sale can be found here. Insiders have sold 14,062 shares of company stock worth $2,544,079 over the last quarter. 0.18% of the stock is owned by company insiders.

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About Raytheon

Raytheon Company develops integrated products, services, and solutions for the 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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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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