Alliancebernstein L.P. boosted its position in shares of Raytheon Company (NYSE:RTN) by 19.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,500,760 shares of the aerospace company’s stock after buying an additional 244,216 shares during the period. Alliancebernstein L.P.’s holdings in Raytheon were worth $228,866,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. James Investment Research Inc. boosted its stake in Raytheon by 0.6% in the first quarter. James Investment Research Inc. now owns 68,346 shares of the aerospace company’s stock worth $10,422,000 after buying an additional 381 shares in the last quarter. GHP Investment Advisors Inc. purchased a new stake in Raytheon during the first quarter worth $204,000. Capstone Asset Management Co. boosted its stake in Raytheon by 7.7% in the first quarter. Capstone Asset Management Co. now owns 72,253 shares of the aerospace company’s stock worth $11,019,000 after buying an additional 5,179 shares in the last quarter. Woodstock Corp boosted its stake in Raytheon by 1.3% in the first quarter. Woodstock Corp now owns 24,243 shares of the aerospace company’s stock worth $3,697,000 after buying an additional 306 shares in the last quarter. Finally, Banced Corp boosted its stake in Raytheon by 6.0% in the first quarter. Banced Corp now owns 2,995 shares of the aerospace company’s stock worth $457,000 after buying an additional 169 shares in the last quarter. Institutional investors and hedge funds own 74.75% of the company’s stock.

Shares of Raytheon Company (NYSE RTN) opened at 168.78 on Friday. Raytheon Company has a 52 week low of $132.89 and a 52 week high of $169.43. The firm has a market capitalization of $49.13 billion, a PE ratio of 21.74 and a beta of 0.58. The firm’s 50-day moving average is $163.55 and its 200 day moving average is $155.62.

Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, April 27th. The aerospace company reported $1.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.12. The business had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.83 billion. Raytheon had a return on equity of 20.45% and a net margin of 9.41%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.43 earnings per share. On average, equities analysts forecast that Raytheon Company will post $7.48 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 3rd. Stockholders of record on Wednesday, July 5th will be issued a $0.7975 dividend. This represents a $3.19 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Friday, June 30th. Raytheon’s payout ratio is currently 41.16%.

TRADEMARK VIOLATION WARNING: “Raytheon Company (NYSE:RTN) Position Boosted by Alliancebernstein L.P.” was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this article on another publication, it was copied illegally and republished in violation of United States & international trademark & copyright laws. The legal version of this article can be read at https://www.thecerbatgem.com/2017/07/21/raytheon-company-nysertn-position-boosted-by-alliancebernstein-l-p.html.

RTN has been the subject of a number of recent analyst reports. Cowen and Company reiterated a “buy” rating and issued a $170.00 target price on shares of Raytheon in a research note on Monday, April 10th. Royal Bank Of Canada reiterated a “buy” rating and issued a $180.00 target price on shares of Raytheon in a research note on Friday, March 24th. Vetr cut shares of Raytheon from a “buy” rating to a “hold” rating and set a $166.27 target price for the company. in a research note on Tuesday, May 9th. Jefferies Group LLC reiterated a “buy” rating and issued a $172.00 target price on shares of Raytheon in a research note on Monday, June 26th. Finally, Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $175.00 target price for the company in a research note on Monday, May 1st. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Raytheon currently has an average rating of “Buy” and a consensus target price of $168.45.

In other news, VP Wesley D. Kremer sold 1,010 shares of the stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $163.10, for a total value of $164,731.00. Following the completion of the sale, the vice president now directly owns 23,136 shares of the company’s stock, valued at $3,773,481.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Thomas A. Kennedy sold 10,703 shares of the stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $162.05, for a total value of $1,734,421.15. Following the completion of the sale, the chairman now directly owns 61,671 shares of the company’s stock, valued at $9,993,785.55. The disclosure for this sale can be found here. Insiders sold 15,911 shares of company stock valued at $2,580,752 over the last three months. Corporate insiders own 0.19% of the company’s stock.

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.

Want to see what other hedge funds are holding RTN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raytheon Company (NYSE:RTN).

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

Receive News & Stock Ratings for Raytheon Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon Company and related stocks with our FREE daily email newsletter.