National Asset Management Inc. boosted its stake in Raytheon Company (NYSE:RTN) by 5.2% during the first quarter, Holdings Channel reports. The institutional investor owned 4,666 shares of the aerospace company’s stock after buying an additional 229 shares during the period. National Asset Management Inc.’s holdings in Raytheon were worth $713,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Crestwood Advisors Group LLC bought a new position in shares of Raytheon during the first quarter worth about $110,000. Oakworth Capital Inc. raised 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 worth $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 worth about $111,000. Orrstown Financial Services Inc. raised 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 worth $116,000 after buying an additional 140 shares in the last quarter. Finally, Adirondack Trust Co. raised 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 worth $122,000 after buying an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 74.98% of the company’s stock.

Shares of Raytheon Company (NYSE:RTN) traded up 0.97% during midday trading on Friday, reaching $179.35. 1,930,579 shares of the company’s stock were exchanged. The company has a market capitalization of $52.06 billion, a PE ratio of 24.77 and a beta of 0.59. The firm has a 50-day moving average of $168.59 and a 200-day moving average of $158.50. Raytheon Company has a 1-year low of $132.89 and a 1-year high of $181.05. Raytheon also was the recipient of unusually large options trading on Thursday. Investors bought 14,447 call options on the company. This represents an increase of 901% compared to the typical volume of 1,443 call options.

Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.15. The firm had revenue of $6.28 billion during the quarter, compared to analyst estimates of $6.24 billion. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the company earned $2.38 earnings per share. Equities analysts expect that Raytheon Company will post $7.59 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Wednesday, July 5th were given a $0.7975 dividend. The ex-dividend date of this dividend was Friday, June 30th. This represents a $3.19 dividend on an annualized basis and a yield of 1.78%. Raytheon’s payout ratio is 43.94%.

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A number of brokerages recently issued reports on RTN. BidaskClub upgraded shares of Raytheon from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Argus reiterated a “buy” rating and issued a $195.00 target price (up previously from $175.00) on shares of Raytheon in a research report on Friday, August 4th. Buckingham Research increased their target price on shares of Raytheon from $190.00 to $199.00 and gave the company a “buy” rating in a research report on Friday. Morgan Stanley began coverage on shares of Raytheon in a research report on Tuesday. They issued an “equal weight” rating and a $188.00 target price for the company. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $212.00 target price (up previously from $170.00) on shares of Raytheon in a research report on Thursday. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $182.49.

In other news, Director Robert E. Beauchamp acquired 1,162 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was purchased at an average cost of $171.99 per share, for a total transaction of $199,852.38. Following the completion of the transaction, the director now directly owns 4,303 shares in the company, valued at $740,072.97. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Wesley D. Kremer sold 1,010 shares of Raytheon stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $163.10, for a total value of $164,731.00. Following the completion of the sale, the vice president now owns 23,136 shares of the company’s stock, valued at $3,773,481.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,911 shares of company stock valued at $2,580,752. Corporate insiders own 0.19% of the company’s stock.

Raytheon Company Profile

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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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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