MAI Capital Management Has $13.69 Million Holdings in Raytheon (RTN)

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MAI Capital Management lifted its position in shares of Raytheon (NYSE:RTN) by 4.0% during the 1st quarter, Holdings Channel reports. The firm owned 75,188 shares of the aerospace company’s stock after purchasing an additional 2,881 shares during the quarter. MAI Capital Management’s holdings in Raytheon were worth $13,690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc increased its stake in shares of Raytheon by 0.9% during the 3rd quarter. Vanguard Group Inc now owns 23,074,017 shares of the aerospace company’s stock worth $4,768,477,000 after purchasing an additional 212,408 shares during the last quarter. BlackRock Inc. grew its stake in Raytheon by 1.3% in the 4th quarter. BlackRock Inc. now owns 22,838,110 shares of the aerospace company’s stock valued at $3,502,223,000 after buying an additional 288,392 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in 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 buying an additional 9,565,442 shares during the last quarter. Macquarie Group Ltd. grew its stake in 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 buying an additional 402,785 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its stake in 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 buying an additional 334,298 shares during the last quarter. Institutional investors own 76.02% of the company’s stock.

In other Raytheon news, CAO Michael J. Wood sold 3,501 shares of the stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $183.86, for a total transaction of $643,693.86. Following the transaction, the chief accounting officer now owns 19,217 shares in the company, valued at approximately $3,533,237.62. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Michael J. Wood sold 427 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now directly owns 13,165 shares of the company’s stock, valued at approximately $2,337,840.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,657 shares of company stock worth $3,940,619. Company insiders own 0.18% of the company’s stock.

Shares of NYSE:RTN opened at $177.04 on Friday. Raytheon has a 12-month low of $144.27 and a 12-month high of $214.76. The company has a market cap of $49.70 billion, a price-to-earnings ratio of 16.69, a price-to-earnings-growth ratio of 1.36 and a beta of 0.96. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 0.36.

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

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Wednesday, April 10th will be given a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Tuesday, April 9th. This is a positive change from Raytheon’s previous quarterly dividend of $0.87. Raytheon’s dividend payout ratio is presently 35.53%.

A number of research analysts recently commented on RTN shares. Citigroup decreased their price target on shares of Raytheon from $230.00 to $208.00 and set a “buy” rating on the stock in a research note on Monday, January 14th. Susquehanna Bancshares started coverage on shares of Raytheon in a research note on Thursday, January 10th. They issued a “positive” rating and a $187.00 price target on the stock. Alembic Global Advisors upgraded shares of Raytheon from a “neutral” rating to an “overweight” rating and set a $214.00 price target on the stock in a research note on Tuesday, February 5th. ValuEngine lowered shares of Raytheon from a “hold” rating to a “sell” rating in a research note on Thursday, January 31st. Finally, Argus reiterated a “buy” rating and issued a $200.00 price target on shares of Raytheon in a research note on Friday, February 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $209.92.

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Raytheon 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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