Buckingham Capital Management Inc. Acquires Shares of 1,126 Raytheon (RTN)

Buckingham Capital Management Inc. acquired a new position in Raytheon (NYSE:RTN) in the 1st quarter, HoldingsChannel reports. The firm acquired 1,126 shares of the aerospace company’s stock, valued at approximately $205,000.

Other institutional investors have also modified their holdings of the company. Korea Investment CORP grew its position in Raytheon by 2.3% in the fourth quarter. Korea Investment CORP now owns 383,753 shares of the aerospace company’s stock worth $58,849,000 after acquiring an additional 8,800 shares during the period. Peak Asset Management LLC grew its position in Raytheon by 5.9% in the fourth quarter. Peak Asset Management LLC now owns 45,135 shares of the aerospace company’s stock worth $6,921,000 after acquiring an additional 2,507 shares during the period. Duality Advisers LP purchased a new position in shares of Raytheon during the fourth quarter worth $8,361,000. LSV Asset Management boosted its position in shares of Raytheon by 534.5% during the fourth quarter. LSV Asset Management now owns 229,200 shares of the aerospace company’s stock worth $35,147,000 after buying an additional 193,076 shares during the period. Finally, Millennium Management LLC boosted its position in shares of Raytheon by 237.8% during the fourth quarter. Millennium Management LLC now owns 1,004,199 shares of the aerospace company’s stock worth $153,994,000 after buying an additional 706,918 shares during the period. Institutional investors own 74.93% of the company’s stock.

Several research analysts have recently commented on the company. Wolfe Research set a $205.00 price target on Raytheon and gave the stock a “buy” rating in a research report on Friday, April 26th. Zacks Investment Research lowered Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, April 29th. Jefferies Financial Group raised 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. UBS Group lowered Raytheon from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $220.00 to $200.00 in a research report on Wednesday, April 3rd. Finally, Alembic Global Advisors upgraded Raytheon from a “neutral” rating to an “overweight” rating and set a $214.00 price target for the company in a research report on Tuesday, February 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $209.69.

In related news, VP Michael J. Wood sold 427 shares of Raytheon stock in a transaction on Thursday, April 4th. The stock was 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 $2,337,840.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Frank R. Jimenez sold 1,496 shares of Raytheon stock in a transaction on Friday, March 29th. The shares were sold at an average price of $181.58, for a total value of $271,643.68. Following the completion of the transaction, the vice president now owns 28,613 shares of the company’s stock, valued at $5,195,548.54. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,062 shares of company stock valued at $2,544,079. 0.18% of the stock is currently owned by company insiders.

RTN opened at $180.00 on Monday. Raytheon has a 52 week low of $144.27 and a 52 week high of $214.76. The firm has a market cap of $50.38 billion, a PE ratio of 16.97, a PEG ratio of 1.40 and a beta of 0.96. 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 business had revenue of $6.73 billion during 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 company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the business posted $2.20 earnings per share. Equities research analysts predict that Raytheon will post 11.61 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Wednesday, April 10th were issued a $0.9425 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This is a positive change from Raytheon’s previous quarterly dividend of $0.87. This represents a $3.77 dividend on an annualized basis and a yield of 2.09%. Raytheon’s dividend payout ratio (DPR) is 35.53%.

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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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