Pinnacle Bank Purchases Shares of 613 Raytheon (RTN)

Pinnacle Bank purchased a new stake in Raytheon (NYSE:RTN) in the fourth quarter, Holdings Channel reports. The firm purchased 613 shares of the aerospace company’s stock, valued at approximately $94,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Korea Investment CORP increased its holdings in shares of Raytheon by 2.3% in the 4th quarter. Korea Investment CORP now owns 383,753 shares of the aerospace company’s stock valued at $58,849,000 after acquiring an additional 8,800 shares during the last quarter. Peak Asset Management LLC increased its holdings in shares of Raytheon by 5.9% in the 4th quarter. Peak Asset Management LLC now owns 45,135 shares of the aerospace company’s stock valued at $6,921,000 after acquiring an additional 2,507 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of Raytheon by 297.8% in the 3rd quarter. Captrust Financial Advisors now owns 4,781 shares of the aerospace company’s stock valued at $988,000 after acquiring an additional 3,579 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services increased its holdings in shares of Raytheon by 3.3% in the 4th quarter. First National Bank of Mount Dora Trust Investment Services now owns 22,277 shares of the aerospace company’s stock valued at $3,416,000 after acquiring an additional 710 shares during the last quarter. Finally, LSV Asset Management increased its holdings in shares of Raytheon by 534.5% in the 4th quarter. LSV Asset Management now owns 229,200 shares of the aerospace company’s stock valued at $35,147,000 after acquiring an additional 193,076 shares during the last quarter. Institutional investors and hedge funds own 75.76% of the company’s stock.

In other news, VP Anthony F. O’brien sold 9,656 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $181.06, for a total value of $1,748,315.36. Following the completion of the transaction, the vice president now owns 34,057 shares of the company’s stock, valued at $6,166,360.42. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Frank R. Jimenez sold 1,417 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $180.10, for a total value of $255,201.70. Following the completion of the transaction, the vice president now directly owns 30,748 shares of the company’s stock, valued at approximately $5,537,714.80. The disclosure for this sale can be found here. In the last three months, insiders sold 19,211 shares of company stock valued at $3,498,188. Company insiders own 0.19% of the company’s stock.

A number of equities research analysts have recently weighed in on RTN shares. ValuEngine downgraded Raytheon from a “hold” rating to a “sell” rating in a report on Thursday, January 10th. Citigroup lowered their price target on Raytheon from $230.00 to $208.00 and set a “buy” rating for the company in a report on Monday, January 14th. Alembic Global Advisors upgraded Raytheon from a “neutral” rating to an “overweight” rating and set a $214.00 price objective for the company in a research note on Tuesday, February 5th. Zacks Investment Research downgraded Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, December 31st. Finally, Barclays lowered their price objective on Raytheon from $239.00 to $195.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $217.31.

Shares of RTN opened at $185.46 on Tuesday. The firm has a market cap of $51.39 billion, a P/E ratio of 17.48, a P/E/G ratio of 1.38 and a beta of 0.99. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.41. Raytheon has a 12 month low of $144.27 and a 12 month high of $229.75.

Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, January 31st. The aerospace company reported $2.93 EPS for the quarter, topping the Zacks’ consensus estimate of $2.89 by $0.04. The firm had revenue of $7.36 billion during the quarter, compared to the consensus estimate of $7.50 billion. Raytheon had a return on equity of 25.81% and a net margin of 10.75%. During the same period in the prior year, the business earned $2.03 EPS. On average, equities analysts forecast 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. Stockholders of record on Wednesday, April 10th will be paid a $0.9425 dividend. This is a boost from Raytheon’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $3.77 annualized dividend and a dividend yield of 2.03%. Raytheon’s dividend payout ratio is presently 32.70%.

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About Raytheon

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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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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