Prio Wealth Limited Partnership Sells 1,333 Shares of Raytheon (RTN)

Prio Wealth Limited Partnership reduced its holdings in Raytheon (NYSE:RTN) by 4.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 25,753 shares of the aerospace company’s stock after selling 1,333 shares during the quarter. Prio Wealth Limited Partnership’s holdings in Raytheon were worth $4,689,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in RTN. Oregon Public Employees Retirement Fund increased its position in Raytheon by 8,792.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,674,238 shares of the aerospace company’s stock valued at $63,000 after acquiring an additional 9,565,442 shares during the period. Norges Bank acquired a new position in Raytheon in the 4th quarter valued at approximately $439,572,000. Millennium Management LLC increased its position in 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 increased its position in 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. increased its position in 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. Hedge funds and other institutional investors own 76.48% of the company’s stock.

In other Raytheon news, VP Anthony F. O’brien sold 9,656 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $181.06, for a total value of $1,748,315.36. Following the transaction, the vice president now directly owns 34,057 shares of the company’s stock, valued at $6,166,360.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Frank R. Jimenez sold 4,094 shares of the firm’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $183.89, for a total transaction of $752,845.66. Following the completion of the transaction, the vice president now directly owns 36,964 shares in the company, valued at $6,797,309.96. The disclosure for this sale can be found here. Insiders sold 21,657 shares of company stock worth $3,940,619 over the last ninety days. Insiders own 0.18% of the company’s stock.



RTN has been the subject of several recent research reports. Citigroup decreased their price target on shares of Raytheon from $230.00 to $208.00 and set a “buy” rating for the company in a research report on Monday, January 14th. ValuEngine raised shares of Raytheon from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. Argus reissued a “buy” rating and set a $200.00 target price on shares of Raytheon in a research note on Friday, February 1st. Alembic Global Advisors raised shares of Raytheon from a “neutral” rating to an “overweight” rating and set a $214.00 target price on the stock in a research note on Tuesday, February 5th. Finally, UBS Group lowered shares of Raytheon from a “buy” rating to a “neutral” rating and cut their target price for the stock from $220.00 to $200.00 in a research note on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $210.36.

Raytheon stock opened at $178.60 on Tuesday. Raytheon has a 1-year low of $144.27 and a 1-year high of $214.76. The firm has a market capitalization of $50.37 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 1.38 and a beta of 0.96. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.31 and a current ratio of 1.43.

Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, April 25th. The aerospace company reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.32. Raytheon had a net margin of 11.11% and a return on equity of 26.27%. The firm had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.58 billion. During the same period last year, the firm earned $2.20 earnings per share. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. Equities research analysts predict that Raytheon will post 11.61 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 9th. Shareholders of record on Wednesday, April 10th were paid a $0.9425 dividend. This represents a $3.77 dividend on an annualized basis and a dividend yield of 2.11%. This is a positive change from Raytheon’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Tuesday, April 9th. Raytheon’s dividend payout ratio (DPR) is 35.53%.

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Raytheon Company Profile

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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