Independent Advisor Alliance Decreases Position in Raytheon (RTN)

Independent Advisor Alliance cut its stake in shares of Raytheon (NYSE:RTN) by 8.7% during the 1st quarter, Holdings Channel reports. The firm owned 4,035 shares of the aerospace company’s stock after selling 384 shares during the period. Independent Advisor Alliance’s holdings in Raytheon were worth $735,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in Raytheon by 10.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,039,876 shares of the aerospace company’s stock valued at $214,900,000 after purchasing an additional 99,186 shares in the last quarter. Vanguard Group Inc increased its holdings in Raytheon by 0.9% in the 3rd quarter. Vanguard Group Inc now owns 23,074,017 shares of the aerospace company’s stock valued at $4,768,477,000 after purchasing an additional 212,408 shares in the last quarter. Bell Asset Management Ltd increased its holdings in Raytheon by 50.0% in the 4th quarter. Bell Asset Management Ltd now owns 40,735 shares of the aerospace company’s stock valued at $6,247,000 after purchasing an additional 13,573 shares in the last quarter. Rossmore Private Capital increased its holdings in Raytheon by 4.1% in the 4th quarter. Rossmore Private Capital now owns 4,946 shares of the aerospace company’s stock valued at $758,000 after purchasing an additional 196 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in Raytheon by 114.3% in the 4th quarter. Bank of Montreal Can now owns 636,908 shares of the aerospace company’s stock valued at $97,670,000 after purchasing an additional 339,667 shares in the last quarter. 76.91% of the stock is currently owned by institutional investors.

Shares of Raytheon stock opened at $180.67 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.31. The stock has a market cap of $49.81 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 1.35 and a beta of 0.96. Raytheon has a 1-year low of $144.27 and a 1-year high of $214.76.

Raytheon (NYSE:RTN) last announced its earnings results on Thursday, April 25th. The aerospace company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.32. The company had revenue of $6.73 billion during 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%. The company’s revenue was up 7.4% on a year-over-year basis. During the same period last year, the firm earned $2.20 earnings per share. On average, analysts predict that Raytheon will post 11.61 EPS for the current fiscal year.

The firm 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. The ex-dividend date 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 dividend yield of 2.09%. Raytheon’s dividend payout ratio (DPR) is currently 35.53%.

Several analysts recently issued reports on RTN shares. Alembic Global Advisors upgraded Raytheon from a “neutral” rating to an “overweight” rating and set a $214.00 price target for the company in a report on Tuesday, February 5th. ValuEngine downgraded Raytheon from a “hold” rating to a “sell” rating in a report on Thursday, January 31st. Wolfe Research set a $205.00 price target on Raytheon and gave the company a “buy” rating in a report on Friday, April 26th. Argus reiterated a “buy” rating and issued a $200.00 price target on shares of Raytheon in a report on Friday, February 1st. Finally, UBS Group downgraded Raytheon from a “buy” rating to a “neutral” rating and lowered their price target for the company from $220.00 to $200.00 in a report on Wednesday, April 3rd. One 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 stock currently has a consensus rating of “Buy” and a consensus price target of $210.36.

In other news, VP Anthony F. O’brien sold 9,656 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $181.06, for a total transaction of $1,748,315.36. Following the completion of the sale, the vice president now directly owns 34,057 shares in the company, valued at $6,166,360.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael J. Wood sold 427 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $177.58, for a total value of $75,826.66. Following the sale, the vice president now owns 13,165 shares of the company’s stock, valued at $2,337,840.70. The disclosure for this sale can be found here. Insiders have sold 14,062 shares of company stock valued at $2,544,079 over the last 90 days. Insiders own 0.18% of the company’s stock.

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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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