BTR Capital Management Inc. Purchases 2,228 Shares of Raytheon (NYSE:RTN)

BTR Capital Management Inc. lifted its position in shares of Raytheon (NYSE:RTN) by 5.2% in the 4th quarter, Holdings Channel reports. The fund owned 44,780 shares of the aerospace company’s stock after buying an additional 2,228 shares during the quarter. Raytheon accounts for approximately 1.7% of BTR Capital Management Inc.’s holdings, making the stock its 21st largest position. BTR Capital Management Inc.’s holdings in Raytheon were worth $9,840,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. We Are One Seven LLC lifted its holdings in Raytheon by 10.0% during the 4th quarter. We Are One Seven LLC now owns 6,974 shares of the aerospace company’s stock worth $1,532,000 after purchasing an additional 634 shares in the last quarter. Palisade Asset Management LLC lifted its holdings in Raytheon by 3.6% during the 4th quarter. Palisade Asset Management LLC now owns 8,156 shares of the aerospace company’s stock worth $1,792,000 after purchasing an additional 280 shares in the last quarter. Price Wealth LLC lifted its holdings in Raytheon by 189.3% during the 4th quarter. Price Wealth LLC now owns 217 shares of the aerospace company’s stock worth $48,000 after purchasing an additional 142 shares in the last quarter. Wedbush Securities Inc. lifted its holdings in Raytheon by 11.4% during the 4th quarter. Wedbush Securities Inc. now owns 7,323 shares of the aerospace company’s stock worth $1,609,000 after purchasing an additional 750 shares in the last quarter. Finally, Merit Financial Group LLC lifted its holdings in Raytheon by 56.1% during the 4th quarter. Merit Financial Group LLC now owns 5,054 shares of the aerospace company’s stock worth $1,111,000 after purchasing an additional 1,816 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Shares of NYSE:RTN traded up $0.57 on Friday, hitting $232.88. The company’s stock had a trading volume of 190,312 shares, compared to its average volume of 1,469,158. The company has a 50-day simple moving average of $220.76 and a 200 day simple moving average of $200.54. Raytheon has a 1 year low of $158.56 and a 1 year high of $232.47. The company has a market capitalization of $64.29 billion, a PE ratio of 21.95, a PEG ratio of 1.66 and a beta of 0.88. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.54 and a quick ratio of 1.44.

Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, October 24th. The aerospace company reported $3.08 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.22. Raytheon had a return on equity of 27.23% and a net margin of 11.47%. The firm had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.29 billion. During the same quarter last year, the firm posted $2.25 EPS. The company’s revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts expect that Raytheon will post 11.88 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Wednesday, January 8th will be issued a $0.9425 dividend. The ex-dividend date is Tuesday, January 7th. This represents a $3.77 annualized dividend and a dividend yield of 1.62%. Raytheon’s payout ratio is currently 35.53%.

A number of brokerages recently issued reports on RTN. Barclays set a $215.00 price objective on Raytheon and gave the stock a “hold” rating in a report on Tuesday, October 8th. UBS Group increased their price objective on Raytheon from $230.00 to $250.00 and gave the stock a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. set a $240.00 price objective on Raytheon and gave the stock a “buy” rating in a report on Friday, October 25th. Cowen reissued a “buy” rating and set a $225.00 price objective on shares of Raytheon in a report on Thursday, October 24th. Finally, Credit Suisse Group increased their price objective on Raytheon from $230.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $221.80.

In other news, Director Stephen J. Hadley sold 1,900 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $232.00, for a total transaction of $440,800.00. Following the transaction, the director now directly owns 8,750 shares in the company, valued at approximately $2,030,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tracy A. Atkinson sold 500 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $215.48, for a total value of $107,740.00. Following the transaction, the director now owns 4,376 shares in the company, valued at $942,940.48. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

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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