Nomura Holdings Inc. Decreases Stake in Raytheon Company (NYSE:RTN)
Nomura Holdings Inc. decreased its stake in Raytheon Company (NYSE:RTN) by 60.3% during the first quarter, Holdings Channel reports. The fund owned 7,928 shares of the aerospace company’s stock after selling 12,040 shares during the period. Nomura Holdings Inc.’s holdings in Raytheon were worth $1,209,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of RTN. Crestwood Advisors Group LLC bought a new position in shares of Raytheon during the first quarter valued at approximately $110,000. Oakworth Capital Inc. increased its position in shares of Raytheon by 156.1% in the first quarter. Oakworth Capital Inc. now owns 730 shares of the aerospace company’s stock valued at $111,000 after buying an additional 445 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new position in shares of Raytheon during the first quarter valued at approximately $111,000. Orrstown Financial Services Inc. increased its position in shares of Raytheon by 22.6% in the first quarter. Orrstown Financial Services Inc. now owns 759 shares of the aerospace company’s stock valued at $116,000 after buying an additional 140 shares in the last quarter. Finally, Adirondack Trust Co. increased its position in shares of Raytheon by 7.1% in the first quarter. Adirondack Trust Co. now owns 803 shares of the aerospace company’s stock valued at $122,000 after buying an additional 53 shares in the last quarter. Institutional investors own 74.98% of the company’s stock.
Shares of Raytheon Company (RTN) traded up 1.3731% during trading on Friday, hitting $180.0588. The company had a trading volume of 781,677 shares. The firm’s 50 day moving average is $168.07 and its 200-day moving average is $158.27. The stock has a market capitalization of $52.26 billion, a P/E ratio of 24.8700 and a beta of 0.59. Raytheon Company has a 52 week low of $132.89 and a 52 week high of $181.05. Raytheon also was the recipient of unusually large options trading on Thursday. Stock traders purchased 14,447 call options on the stock. This represents an increase of approximately 901% compared to the typical volume of 1,443 call options.
Raytheon (NYSE:RTN) last released its earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.15. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The firm had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.24 billion. During the same quarter last year, the business posted $2.38 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis. Equities research analysts anticipate that Raytheon Company will post $7.59 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Wednesday, July 5th were given a dividend of $0.7975 per share. This represents a $3.19 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Friday, June 30th. Raytheon’s dividend payout ratio is currently 43.94%.
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Several research analysts have commented on RTN shares. Zacks Investment Research downgraded Raytheon from a “buy” rating to a “hold” rating in a research note on Friday, May 19th. Vetr downgraded Raytheon from a “buy” rating to a “hold” rating and set a $166.27 target price for the company. in a research note on Tuesday, May 9th. Deutsche Bank AG raised their target price on Raytheon from $156.00 to $160.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. Royal Bank Of Canada restated a “buy” rating and issued a $181.00 target price on shares of Raytheon in a research note on Friday, June 2nd. Finally, Jefferies Group LLC restated a “buy” rating and issued a $172.00 target price on shares of Raytheon in a research note on Monday, June 26th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $180.12.
In other news, Director Robert E. Beauchamp purchased 1,162 shares of the business’s stock in a transaction on Monday, July 31st. The stock was acquired at an average price of $171.99 per share, for a total transaction of $199,852.38. Following the acquisition, the director now directly owns 4,303 shares of the company’s stock, valued at approximately $740,072.97. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Michael J. Wood sold 1,442 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $162.98, for a total value of $235,017.16. Following the transaction, the chief accounting officer now owns 18,470 shares of the company’s stock, valued at approximately $3,010,240.60. The disclosure for this sale can be found here. Insiders have sold 15,911 shares of company stock valued at $2,580,752 in the last quarter. 0.19% of the stock is currently owned by company insiders.
Raytheon Company is a technology company, which specializes in defense and other government markets. The Company develops integrated products, services and solutions in various markets, including sensing; effects; command, control, communications, computers, cyber and intelligence; mission support, and cybersecurity.
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