Patten Group Inc. lifted its holdings in shares of Raytheon (NYSE:RTN) by 1.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,834 shares of the aerospace company’s stock after acquiring an additional 140 shares during the period. Patten Group Inc.’s holdings in Raytheon were worth $2,155,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Alpha Omega Wealth Management LLC acquired a new stake in shares of Raytheon during the 1st quarter worth about $25,000. Athena Capital Advisors LLC acquired a new stake in shares of Raytheon during the 4th quarter worth about $26,000. Sontag Advisory LLC acquired a new stake in shares of Raytheon during the 4th quarter worth about $26,000. WP Advisors LLC acquired a new stake in shares of Raytheon during the 1st quarter worth about $26,000. Finally, Farmers National Bank acquired a new stake in shares of Raytheon during the 1st quarter worth about $27,000. 74.39% of the stock is currently owned by institutional investors and hedge funds.

RTN has been the topic of several research analyst reports. Zacks Investment Research lowered Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, April 29th. Vertical Research lowered Raytheon from a “buy” rating to a “hold” rating and cut their target price for the stock from $216.00 to $203.00 in a research report on Tuesday. Stifel Nicolaus lifted their price target on Raytheon from $205.00 to $218.00 and gave the stock a “buy” rating in a research report on Monday. ValuEngine raised Raytheon from a “sell” rating to a “hold” rating in a research report on Friday, June 7th. Finally, Jefferies Financial Group lifted their price target on Raytheon from $202.00 to $216.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $208.36.

RTN traded down $0.89 during trading on Wednesday, hitting $176.73. 1,875,002 shares of the stock were exchanged, compared to its average volume of 1,946,583. The firm has a market cap of $52.03 billion, a price-to-earnings ratio of 16.66, a price-to-earnings-growth ratio of 1.42 and a beta of 0.91. Raytheon has a 1-year low of $144.27 and a 1-year high of $212.26. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 0.36.

Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, April 25th. The aerospace company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.45 by $0.32. The company had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.58 billion. Raytheon had a return on equity of 26.27% and a net margin of 11.11%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.20 earnings per share. Equities analysts expect that Raytheon will post 11.62 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Tuesday, July 9th. Raytheon’s dividend payout ratio (DPR) is 35.53%.

In other news, VP Wesley D. Kremer sold 8,186 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $185.00, for a total value of $1,514,410.00. Following the transaction, the vice president now owns 29,175 shares of the company’s stock, valued at $5,397,375. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Michael J. Wood sold 427 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $177.58, for a total value of $75,826.66. Following the completion of the transaction, the vice president now directly owns 13,165 shares in the company, valued at approximately $2,337,840.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,248 shares of company stock worth $4,058,489. 0.18% of the stock is currently owned by corporate insiders.

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Raytheon Company 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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