Pennsylvania Trust Co Grows Position in Raytheon (RTN)

Pennsylvania Trust Co increased its position in shares of Raytheon (NYSE:RTN) by 33.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,581 shares of the aerospace company’s stock after acquiring an additional 15,847 shares during the quarter. Pennsylvania Trust Co’s holdings in Raytheon were worth $11,600,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in RTN. Northstar Group Inc. grew its position in Raytheon by 4.8% in the first quarter. Northstar Group Inc. now owns 4,132 shares of the aerospace company’s stock worth $752,000 after acquiring an additional 190 shares in the last quarter. Flagship Harbor Advisors LLC raised its stake in Raytheon by 2.6% during the 1st quarter. Flagship Harbor Advisors LLC now owns 4,128 shares of the aerospace company’s stock valued at $751,000 after purchasing an additional 104 shares during the last quarter. Raymond James Trust N.A. raised its stake in shares of Raytheon by 2.2% in the 1st quarter. Raymond James Trust N.A. now owns 10,396 shares of the aerospace company’s stock valued at $1,893,000 after buying an additional 219 shares in the last quarter. WP Advisors LLC acquired a new position in shares of Raytheon in the 1st quarter valued at $26,000. Finally, Retirement Systems of Alabama raised its stake in shares of Raytheon by 11.0% in the 1st quarter. Retirement Systems of Alabama now owns 287,589 shares of the aerospace company’s stock valued at $52,364,000 after buying an additional 28,434 shares in the last quarter. Institutional investors and hedge funds own 75.81% of the company’s stock.

Several equities research analysts have recently weighed in on RTN shares. ValuEngine lowered shares of Raytheon from a “hold” rating to a “sell” rating in a report on Thursday, January 10th. Citigroup reduced their target price on shares of Raytheon from $230.00 to $208.00 and set a “buy” rating on the stock in a research note on Monday, January 14th. 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. Zacks Investment Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, December 31st. Finally, Argus reiterated a “buy” rating and issued a $200.00 price target on shares of Raytheon in a research report on Friday, February 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $213.46.

Raytheon stock opened at $182.36 on Wednesday. The company has a market cap of $51.47 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 1.39 and a beta of 0.99. Raytheon has a 52-week low of $144.27 and a 52-week high of $229.75. The company has a current ratio of 1.46, a quick ratio of 1.37 and a debt-to-equity ratio of 0.41.

Raytheon (NYSE:RTN) last issued its earnings results on Thursday, January 31st. The aerospace company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.04. The company had revenue of $7.36 billion for the quarter, compared to analyst estimates of $7.50 billion. Raytheon had a return on equity of 25.81% and a net margin of 10.75%. During the same period in the prior year, the firm earned $2.03 earnings per share. As a group, sell-side analysts forecast that Raytheon will post 11.59 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.9425 per share. The ex-dividend date is Tuesday, April 9th. This is a positive change from Raytheon’s previous quarterly dividend of $0.87. This represents a $3.77 annualized dividend and a dividend yield of 2.07%. Raytheon’s dividend payout ratio (DPR) is currently 35.53%.

In other Raytheon news, VP Frank R. Jimenez sold 4,094 shares of the firm’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $183.89, for a total value of $752,845.66. Following the completion of the transaction, the vice president now owns 36,964 shares in the company, valued at approximately $6,797,309.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Anthony F. O’brien sold 9,656 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $181.06, for a total value of $1,748,315.36. Following the completion of the transaction, the vice president now owns 34,057 shares of the company’s stock, valued at approximately $6,166,360.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,657 shares of company stock valued at $3,940,619. Insiders own 0.19% of the company’s stock.

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Raytheon 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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