Lockheed Martin Investment Management Co. Makes New Investment in Raytheon (NYSE:RTN)

Lockheed Martin Investment Management Co. purchased a new stake in shares of Raytheon (NYSE:RTN) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,800 shares of the aerospace company’s stock, valued at approximately $4,515,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Raytheon by 2.3% in the 1st quarter. BlackRock Inc. now owns 23,365,818 shares of the aerospace company’s stock valued at $4,254,449,000 after buying an additional 527,708 shares during the last quarter. Vanguard Group Inc grew its position in shares of Raytheon by 0.9% in the 3rd quarter. Vanguard Group Inc now owns 23,074,017 shares of the aerospace company’s stock valued at $4,768,477,000 after acquiring an additional 212,408 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of Raytheon by 8,792.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,674,238 shares of the aerospace company’s stock valued at $63,000 after acquiring an additional 9,565,442 shares during the period. Macquarie Group Ltd. grew its position in shares of Raytheon by 11.3% in the 4th quarter. Macquarie Group Ltd. now owns 3,975,205 shares of the aerospace company’s stock valued at $609,599,000 after acquiring an additional 402,785 shares during the period. Finally, Amundi Pioneer Asset Management Inc. grew its position in shares of Raytheon by 9.4% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 3,880,490 shares of the aerospace company’s stock valued at $595,074,000 after acquiring an additional 334,298 shares during the period. 74.31% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently commented on RTN. ValuEngine raised shares of Raytheon from a “sell” rating to a “hold” rating in a research report on Friday, June 7th. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $205.00 price objective for the company in a research report on Wednesday, April 17th. Buckingham Research downgraded shares of Raytheon from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $265.00 to $195.00 in a report on Monday. Jefferies Financial Group lifted their target price on shares of Raytheon from $202.00 to $216.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Finally, UBS Group downgraded shares of Raytheon from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $220.00 to $200.00 in a report on Wednesday, April 3rd. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $207.47.

RTN traded down $4.18 during trading on Friday, reaching $173.88. 3,519,750 shares of the company’s stock were exchanged, compared to its average volume of 2,005,086. Raytheon has a one year low of $144.27 and a one year high of $210.89. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $49.83 billion, a PE ratio of 16.39, a PEG ratio of 1.37 and a beta of 0.92. The stock has a fifty day moving average price of $179.40.

Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, April 25th. The aerospace company reported $2.77 EPS for the quarter, beating the Zacks’ 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 net margin of 11.11% and a return on equity of 26.27%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.20 EPS. As a group, equities research analysts anticipate that Raytheon will post 11.62 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Tuesday, July 9th. Raytheon’s dividend payout ratio is presently 35.53%.

In other Raytheon news, VP Wesley D. Kremer sold 8,186 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $185.00, for a total transaction of $1,514,410.00. Following the transaction, the vice president now owns 29,175 shares in the company, valued at $5,397,375. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Michael J. Wood sold 427 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $177.58, for a total transaction of $75,826.66. Following the transaction, the vice president now owns 13,165 shares in the company, valued at approximately $2,337,840.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,613 shares of company stock worth $1,590,237. 0.18% of the stock is owned by insiders.

Raytheon 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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