Raytheon (RTN) Shares Bought by Country Trust Bank

Country Trust Bank grew its stake in shares of Raytheon (NYSE:RTN) by 158.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 602 shares of the aerospace company’s stock after purchasing an additional 369 shares during the quarter. Country Trust Bank’s holdings in Raytheon were worth $110,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in RTN. JPMorgan Chase & Co. raised its holdings in Raytheon by 10.5% during the third quarter. JPMorgan Chase & Co. now owns 1,039,876 shares of the aerospace company’s stock worth $214,900,000 after purchasing an additional 99,186 shares in the last quarter. Martingale Asset Management L P raised its holdings in Raytheon by 3.2% during the third quarter. Martingale Asset Management L P now owns 249,803 shares of the aerospace company’s stock worth $51,625,000 after purchasing an additional 7,810 shares in the last quarter. Standard Life Aberdeen plc raised its holdings in Raytheon by 64.9% during the third quarter. Standard Life Aberdeen plc now owns 1,950,068 shares of the aerospace company’s stock worth $403,010,000 after purchasing an additional 767,198 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in Raytheon by 1.1% during the third quarter. Thrivent Financial for Lutherans now owns 36,295 shares of the aerospace company’s stock worth $7,501,000 after purchasing an additional 405 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in Raytheon by 0.7% during the third quarter. Advisors Asset Management Inc. now owns 44,710 shares of the aerospace company’s stock worth $9,240,000 after purchasing an additional 316 shares in the last quarter. 75.81% of the stock is currently owned by institutional investors.

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

Shares of Raytheon stock opened at $180.68 on Thursday. The firm has a market capitalization of $51.47 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 1.39 and a beta of 0.99. Raytheon has a 12 month low of $144.27 and a 12 month high of $229.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.37 and a current ratio of 1.46.

Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, January 31st. The aerospace company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.04. Raytheon had a net margin of 10.75% and a return on equity of 25.81%. The firm had revenue of $7.36 billion for the quarter, compared to analyst estimates of $7.50 billion. During the same period last year, the firm posted $2.03 EPS. As a group, equities research analysts expect that Raytheon will post 11.59 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Wednesday, April 10th will be given a $0.9425 dividend. This represents a $3.77 dividend on an annualized basis and a yield of 2.09%. This is a positive change from Raytheon’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend is Tuesday, April 9th. Raytheon’s dividend payout ratio (DPR) is 35.53%.

In other Raytheon news, VP Anthony F. O’brien sold 9,656 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $181.06, for a total transaction of $1,748,315.36. Following the sale, the vice president now directly owns 34,057 shares in the company, valued at approximately $6,166,360.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Frank R. Jimenez sold 4,094 shares of Raytheon stock in a transaction on Friday, February 15th. The stock was sold at an average price of $183.89, for a total value of $752,845.66. Following the transaction, the vice president now directly owns 36,964 shares of the company’s stock, valued at approximately $6,797,309.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,657 shares of company stock worth $3,940,619. 0.19% of the stock is currently owned by insiders.

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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.

Further Reading: Understanding Market Liquidity

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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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