Toronto Dominion Bank Has $37.42 Million Holdings in Raytheon (RTN)

Toronto Dominion Bank cut its position in Raytheon (NYSE:RTN) by 9.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 205,576 shares of the aerospace company’s stock after selling 21,628 shares during the quarter. Toronto Dominion Bank’s holdings in Raytheon were worth $37,421,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RTN. Oregon Public Employees Retirement Fund increased its position in shares of Raytheon by 8,792.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,674,238 shares of the aerospace company’s stock worth $63,000 after acquiring an additional 9,565,442 shares in the last quarter. Norges Bank bought a new position in shares of Raytheon in the 4th quarter valued at about $439,572,000. Millennium Management LLC grew its position in shares of Raytheon by 237.8% in the 4th quarter. Millennium Management LLC now owns 1,004,199 shares of the aerospace company’s stock valued at $153,994,000 after acquiring an additional 706,918 shares during the period. Pendal Group Ltd grew its position in shares of Raytheon by 1,423.0% in the 4th quarter. Pendal Group Ltd now owns 736,834 shares of the aerospace company’s stock valued at $100,947,000 after acquiring an additional 688,455 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Raytheon by 107.6% in the 4th quarter. American Century Companies Inc. now owns 1,248,332 shares of the aerospace company’s stock valued at $191,432,000 after acquiring an additional 646,923 shares during the period. Institutional investors own 76.91% of the company’s stock.

In other Raytheon news, CAO Michael J. Wood sold 543 shares of Raytheon stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $180.72, for a total value of $98,130.96. Following the completion of the sale, the chief accounting officer now owns 15,081 shares in the company, valued at approximately $2,725,438.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael J. Wood sold 427 shares of Raytheon 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 completion of the sale, the vice president now owns 13,165 shares of the company’s stock, valued at approximately $2,337,840.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,062 shares of company stock valued at $2,544,079. 0.18% of the stock is currently owned by corporate insiders.

Shares of NYSE RTN traded down $2.37 during mid-day trading on Friday, reaching $177.07. 1,328,342 shares of the company were exchanged, compared to its average volume of 1,735,085. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.31 and a current ratio of 1.43. The stock has a market cap of $50.22 billion, a PE ratio of 17.25, a P/E/G ratio of 1.37 and a beta of 0.96. Raytheon has a twelve month low of $144.27 and a twelve month high of $214.76.

Raytheon (NYSE:RTN) last posted its earnings results on Thursday, April 25th. The aerospace company reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.32. The company had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.58 billion. Raytheon had a net margin of 11.11% and a return on equity of 26.27%. Raytheon’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.20 EPS. As a group, analysts predict that Raytheon will post 11.61 EPS for the current fiscal year.

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

A number of research analysts have recently commented on RTN shares. Alembic Global Advisors raised shares of Raytheon from a “neutral” rating to an “overweight” rating and set a $214.00 price objective for the company in a research report on Tuesday, February 5th. ValuEngine downgraded shares of Raytheon from a “hold” rating to a “sell” rating in a research report on Thursday, January 31st. Wolfe Research set a $205.00 price objective on shares of Raytheon and gave the company a “buy” rating in a research report on Friday, April 26th. Argus reissued a “buy” rating and issued a $200.00 price objective on shares of Raytheon in a research report on Friday, February 1st. Finally, UBS Group downgraded shares of Raytheon from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $220.00 to $200.00 in a research report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $210.36.

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Raytheon Profile

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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