Raytheon Company (RTN) Stake Held by Forbes J M & Co. LLP

Forbes J M & Co. LLP continued to hold its stake in shares of Raytheon Company (NYSE:RTN) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,600 shares of the aerospace company’s stock at the end of the first quarter. Forbes J M & Co. LLP’s holdings in Raytheon were worth $244,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Raytheon by 4.7% in the first quarter. Vanguard Group Inc. now owns 21,910,520 shares of the aerospace company’s stock valued at $3,341,355,000 after buying an additional 989,986 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Raytheon by 9.5% in the first quarter. Geode Capital Management LLC now owns 3,213,208 shares of the aerospace company’s stock valued at $489,393,000 after buying an additional 277,639 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Raytheon by 2.1% in the first quarter. Wells Fargo & Company MN now owns 2,716,704 shares of the aerospace company’s stock valued at $414,298,000 after buying an additional 56,466 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Raytheon by 19.4% in the first quarter. Alliancebernstein L.P. now owns 1,500,760 shares of the aerospace company’s stock valued at $228,866,000 after buying an additional 244,216 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Raytheon by 2.9% in the first quarter. Legal & General Group Plc now owns 1,447,554 shares of the aerospace company’s stock valued at $220,766,000 after buying an additional 41,210 shares in the last quarter. Institutional investors own 74.72% of the company’s stock.

Shares of Raytheon Company (NYSE:RTN) opened at 176.90 on Friday. Raytheon Company has a 12-month low of $132.89 and a 12-month high of $181.05. The company has a market capitalization of $51.34 billion, a P/E ratio of 24.43 and a beta of 0.59. The stock has a 50 day moving average of $170.94 and a 200-day moving average of $159.65.

Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.15. The company had revenue of $6.28 billion for the quarter, compared to analysts’ expectations of $6.24 billion. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. Raytheon’s revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.38 EPS. Equities research analysts forecast that Raytheon Company will post $7.59 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 3rd. Shareholders of record on Wednesday, July 5th were paid a $0.7975 dividend. The ex-dividend date of this dividend was Friday, June 30th. This represents a $3.19 annualized dividend and a yield of 1.80%. Raytheon’s dividend payout ratio is currently 43.94%.

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RTN has been the topic of several recent analyst reports. Vetr upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $167.16 price objective on the stock in a research report on Monday, May 22nd. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $175.00 price objective on the stock in a research report on Monday, May 1st. Jefferies Group LLC restated a “buy” rating and set a $172.00 price objective on shares of Raytheon in a research report on Tuesday, May 23rd. Stifel Nicolaus raised their price objective on shares of Raytheon from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $181.00 price objective on shares of Raytheon in a research report on Friday, June 2nd. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $183.01.

In other Raytheon news, CAO Michael J. Wood sold 1,442 shares of the business’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $162.98, for a total transaction of $235,017.16. Following the sale, the chief accounting officer now directly owns 18,470 shares in the company, valued at approximately $3,010,240.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Wesley D. Kremer sold 1,010 shares of the business’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $163.10, for a total transaction of $164,731.00. Following the completion of the sale, the vice president now owns 23,136 shares in the company, valued at $3,773,481.60. The disclosure for this sale can be found here. Insiders sold a total of 16,740 shares of company stock worth $2,730,129 over the last three months. 0.19% of the stock is currently owned by corporate insiders.

Raytheon Company Profile

Raytheon Company is a technology company, which specializes in defense and other government markets. The Company develops integrated products, services and solutions in various markets, including sensing; effects; command, control, communications, computers, cyber and intelligence; mission support, and cybersecurity.

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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