Cidel Asset Management Inc. Purchases 2,417 Shares of Raytheon (NYSE:RTN)

Cidel Asset Management Inc. increased its position in Raytheon (NYSE:RTN) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 135,774 shares of the aerospace company’s stock after purchasing an additional 2,417 shares during the quarter. Cidel Asset Management Inc.’s holdings in Raytheon were worth $29,835,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in RTN. Honkamp Krueger Financial Services Inc. lifted its holdings in Raytheon by 3.6% during the fourth quarter. Honkamp Krueger Financial Services Inc. now owns 1,307 shares of the aerospace company’s stock worth $287,000 after buying an additional 45 shares during the period. Sowell Financial Services LLC lifted its holdings in shares of Raytheon by 1.1% during the 4th quarter. Sowell Financial Services LLC now owns 4,245 shares of the aerospace company’s stock valued at $933,000 after purchasing an additional 48 shares during the last quarter. Fulton Bank N.A. lifted its holdings in shares of Raytheon by 3.6% during the 4th quarter. Fulton Bank N.A. now owns 1,439 shares of the aerospace company’s stock valued at $316,000 after purchasing an additional 50 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its holdings in shares of Raytheon by 3.6% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 1,509 shares of the aerospace company’s stock valued at $331,000 after purchasing an additional 53 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Raytheon by 0.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,396 shares of the aerospace company’s stock valued at $3,822,000 after purchasing an additional 56 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors.

RTN has been the subject of several analyst reports. Bank of America increased their price objective on Raytheon from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, January 31st. Alembic Global Advisors lowered Raytheon from an “overweight” rating to a “neutral” rating and set a $244.00 price objective for the company. in a report on Wednesday, February 19th. Wolfe Research lowered Raytheon from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 28th. ValuEngine upgraded Raytheon from a “sell” rating to a “hold” rating in a report on Monday, March 9th. Finally, UBS Group increased their price objective on Raytheon from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Wednesday, January 15th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $229.60.

Shares of NYSE RTN traded up $13.29 during mid-day trading on Wednesday, hitting $146.86. The stock had a trading volume of 2,284,399 shares, compared to its average volume of 4,827,745. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.27 and a current ratio of 1.34. The company has a 50 day moving average of $190.35 and a two-hundred day moving average of $207.02. Raytheon has a twelve month low of $103.00 and a twelve month high of $233.48. The firm has a market cap of $32.17 billion, a PE ratio of 12.31, a PEG ratio of 1.20 and a beta of 0.93.

Raytheon (NYSE:RTN) last released its earnings results on Thursday, January 30th. The aerospace company reported $3.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $0.05. Raytheon had a return on equity of 27.22% and a net margin of 11.46%. The firm had revenue of $7.84 billion for the quarter, compared to the consensus estimate of $8 billion. During the same period in the prior year, the firm earned $2.93 EPS. The firm’s revenue was up 6.5% on a year-over-year basis. Equities research analysts predict that Raytheon will post 12.51 EPS for the current fiscal year.

In related news, Director Stephen J. Hadley sold 1,900 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $232.00, for a total value of $440,800.00. Following the transaction, the director now directly owns 8,750 shares of the company’s stock, valued at approximately $2,030,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Michael J. Wood sold 3,215 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $224.12, for a total value of $720,545.80. Following the completion of the transaction, the chief accounting officer now directly owns 13,838 shares in the company, valued at $3,101,372.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,921 shares of company stock worth $2,686,707. 0.18% of the stock is owned by insiders.

About Raytheon

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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