Hilltop Holdings Inc. bought a new position in shares of Raytheon (NYSE:RTN) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 9,572 shares of the aerospace company’s stock, valued at approximately $2,066,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fort Point Capital Partners LLC raised its holdings in Raytheon by 20.6% during the fourth quarter. Fort Point Capital Partners LLC now owns 1,369 shares of the aerospace company’s stock worth $257,000 after acquiring an additional 234 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in Raytheon by 1.7% during the first quarter. Nuveen Asset Management LLC now owns 14,256 shares of the aerospace company’s stock worth $3,077,000 after acquiring an additional 243 shares in the last quarter. Diamant Asset Management Inc. raised its holdings in Raytheon by 2.9% during the first quarter. Diamant Asset Management Inc. now owns 9,605 shares of the aerospace company’s stock worth $2,073,000 after acquiring an additional 270 shares in the last quarter. Timber Hill LLC raised its holdings in Raytheon by 8.2% during the fourth quarter. Timber Hill LLC now owns 3,663 shares of the aerospace company’s stock worth $688,000 after acquiring an additional 277 shares in the last quarter. Finally, OLD Dominion Capital Management Inc. raised its holdings in Raytheon by 11.1% during the first quarter. OLD Dominion Capital Management Inc. now owns 2,828 shares of the aerospace company’s stock worth $610,000 after acquiring an additional 283 shares in the last quarter. Institutional investors and hedge funds own 72.71% of the company’s stock.

In other news, Chairman Thomas A. Kennedy sold 5,688 shares of the company’s stock in a transaction that occurred on Friday, March 23rd. The stock was sold at an average price of $215.07, for a total value of $1,223,318.16. Following the transaction, the chairman now owns 64,873 shares of the company’s stock, valued at $13,952,236.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Taylor W. Lawrence sold 1,088 shares of the company’s stock in a transaction that occurred on Friday, March 23rd. The shares were sold at an average price of $215.02, for a total value of $233,941.76. Following the completion of the transaction, the vice president now directly owns 51,657 shares in the company, valued at approximately $11,107,288.14. The disclosure for this sale can be found here. Insiders sold 31,328 shares of company stock worth $6,681,734 in the last ninety days. 0.19% of the stock is owned by company insiders.

Shares of NYSE RTN opened at $205.64 on Thursday. The company has a market cap of $61.06 billion, a price-to-earnings ratio of 26.99, a price-to-earnings-growth ratio of 1.87 and a beta of 0.69. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.52 and a current ratio of 1.62. Raytheon has a twelve month low of $159.46 and a twelve month high of $229.75.

Raytheon (NYSE:RTN) last posted its earnings results on Thursday, April 26th. The aerospace company reported $2.20 EPS for the quarter, beating the consensus estimate of $2.10 by $0.10. Raytheon had a return on equity of 22.69% and a net margin of 8.40%. The company had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the prior year, the business earned $1.74 earnings per share. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. analysts anticipate that Raytheon will post 9.87 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 2nd. Stockholders of record on Wednesday, July 11th will be given a $0.8675 dividend. This represents a $3.47 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Tuesday, July 10th. Raytheon’s payout ratio is 45.54%.

Several research firms recently issued reports on RTN. Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $240.00 target price on the stock in a report on Tuesday. Credit Suisse Group reiterated a “neutral” rating and set a $219.00 target price (down previously from $250.00) on shares of Raytheon in a report on Tuesday, May 22nd. Wolfe Research upgraded Raytheon from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 8th. Cowen reiterated a “buy” rating and set a $235.00 target price on shares of Raytheon in a report on Tuesday, April 17th. Finally, Morgan Stanley dropped their target price on Raytheon from $245.00 to $238.00 and set an “overweight” rating on the stock in a report on Thursday, April 12th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Raytheon currently has an average rating of “Buy” and a consensus target price of $220.23.

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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