Ironwood Investment Management LLC increased its stake in shares of Raytheon Company (NYSE:RTN) by 1.1% during the first quarter, Holdings Channel reports. The fund owned 2,459 shares of the aerospace company’s stock after buying an additional 27 shares during the period. Ironwood Investment Management LLC’s holdings in Raytheon were worth $375,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Crestwood Advisors Group LLC bought a new position in shares of Raytheon during the first quarter valued at $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 during the last quarter. Signature Estate & Investment Advisors LLC bought a new position in shares of Raytheon during the first quarter valued at $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 during 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 during the last quarter. Hedge funds and other institutional investors own 74.98% of the company’s stock.

Raytheon Company (NYSE RTN) traded up 0.97% during midday trading on Friday, reaching $179.35. The company had a trading volume of 1,930,579 shares. The company has a market capitalization of $52.06 billion, a P/E 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 saw some unusual options trading on Thursday. Stock traders 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 released its quarterly earnings results on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.15. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The company had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.24 billion. During the same period last year, the business posted $2.38 earnings per share. The firm’s revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts forecast that Raytheon Company will post $7.59 EPS for the current year.

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

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Several brokerages have recently weighed in on RTN. Stifel Nicolaus raised their price target on Raytheon from $160.00 to $175.00 and gave the company a “buy” rating in a report on Friday, April 28th. BidaskClub upgraded Raytheon from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Vetr downgraded Raytheon from a “buy” rating to a “hold” rating and set a $166.44 price target for the company. in a report on Tuesday, May 23rd. Argus restated a “buy” rating and set a $195.00 price target (up from $175.00) on shares of Raytheon in a report on Friday, August 4th. Finally, Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $183.00 price target for the company in a report on Tuesday, May 30th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $182.49.

In other Raytheon news, Director Robert E. Beauchamp purchased 1,162 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was bought at an average cost of $171.99 per share, for a total transaction of $199,852.38. Following the completion of the purchase, the director now owns 4,303 shares in the company, valued at approximately $740,072.97. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Wesley D. Kremer sold 1,010 shares of the stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $163.10, for a total value of $164,731.00. Following the completion of the transaction, the vice president now directly owns 23,136 shares in the company, 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. 0.19% of the stock is currently owned by company insiders.

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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