Northern Trust Corp Lowers Stake in Raytheon (NYSE:RTN)

Northern Trust Corp lessened its stake in shares of Raytheon (NYSE:RTN) by 1.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,271,353 shares of the aerospace company’s stock after selling 32,519 shares during the period. Northern Trust Corp owned about 1.17% of Raytheon worth $595,647,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of RTN. Alpha Omega Wealth Management LLC bought a new position in Raytheon in the first quarter worth approximately $25,000. WP Advisors LLC bought a new position in Raytheon in the first quarter worth approximately $26,000. Farmers National Bank bought a new position in Raytheon in the first quarter worth approximately $27,000. Athena Capital Advisors LLC bought a new position in Raytheon in the fourth quarter worth approximately $26,000. Finally, Sontag Advisory LLC bought a new position in Raytheon in the fourth quarter worth approximately $26,000. 74.31% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently commented on the stock. Vertical Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $216.00 to $203.00 in a research note on Tuesday, June 11th. ValuEngine downgraded shares of Raytheon from a “hold” rating to a “sell” rating in a research note on Friday. Wolfe Research set a $205.00 price objective on shares of Raytheon and gave the stock a “buy” rating in a research note on Friday, April 26th. Zacks Investment Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, April 29th. Finally, Jefferies Financial Group lifted their price target on shares of Raytheon from $202.00 to $216.00 and gave the stock a “buy” rating in a report on Monday, May 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $207.47.

In related news, VP Wesley D. Kremer sold 8,186 shares of the business’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 completion of the transaction, the vice president now directly owns 29,175 shares in the company, valued at $5,397,375. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael J. Wood sold 427 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were 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 of the company’s stock, valued at $2,337,840.70. The disclosure for this sale can be found here. Insiders have sold 8,613 shares of company stock valued at $1,590,237 over the last 90 days. 0.18% of the stock is currently owned by insiders.

Shares of RTN traded down $4.18 during trading hours on Friday, reaching $173.88. 3,519,750 shares of the company traded hands, compared to its average volume of 2,005,086. The company has a market capitalization of $49.83 billion, a PE ratio of 16.39, a P/E/G ratio of 1.37 and a beta of 0.92. 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 has a 12-month low of $144.27 and a 12-month high of $210.89. The stock has a fifty day simple moving average of $179.40.

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

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

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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