Raytheon (RTN) Position Reduced by Manchester Capital Management LLC

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Manchester Capital Management LLC lessened its stake in Raytheon (NYSE:RTN) by 18.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 268 shares of the aerospace company’s stock after selling 59 shares during the period. Manchester Capital Management LLC’s holdings in Raytheon were worth $52,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Coastline Trust Co grew its holdings in Raytheon by 0.6% during the 4th quarter. Coastline Trust Co now owns 10,850 shares of the aerospace company’s stock worth $1,664,000 after acquiring an additional 65 shares in the last quarter. Mitchell Sinkler & Starr PA grew its holdings in Raytheon by 1.5% during the 4th quarter. Mitchell Sinkler & Starr PA now owns 5,240 shares of the aerospace company’s stock worth $804,000 after acquiring an additional 75 shares in the last quarter. Steinberg Global Asset Management grew its holdings in Raytheon by 4.9% during the 4th quarter. Steinberg Global Asset Management now owns 1,641 shares of the aerospace company’s stock worth $252,000 after acquiring an additional 76 shares in the last quarter. Farmers Trust Co. grew its holdings in Raytheon by 0.6% during the 4th quarter. Farmers Trust Co. now owns 16,086 shares of the aerospace company’s stock worth $2,467,000 after acquiring an additional 98 shares in the last quarter. Finally, Arrow Financial Corp grew its holdings in Raytheon by 1.7% during the 4th quarter. Arrow Financial Corp now owns 6,001 shares of the aerospace company’s stock worth $920,000 after acquiring an additional 100 shares in the last quarter. 77.14% of the stock is currently owned by institutional investors.

RTN has been the topic of several recent research reports. Argus reiterated a “buy” rating and set a $200.00 target price on shares of Raytheon in a report on Friday, February 1st. Citigroup dropped their target price on shares of Raytheon from $230.00 to $208.00 and set a “buy” rating on the stock in a report on Monday, January 14th. Bank of America dropped their target price on shares of Raytheon from $245.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, October 26th. Barclays dropped their target price on shares of Raytheon from $239.00 to $195.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 4th. Finally, ValuEngine upgraded shares of Raytheon from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $217.31.

NYSE:RTN opened at $177.83 on Tuesday. Raytheon has a fifty-two week low of $144.27 and a fifty-two week high of $229.75. The stock has a market capitalization of $50.06 billion, a PE ratio of 16.76, a PEG ratio of 1.34 and a beta of 0.95. The company has a current ratio of 1.46, a quick ratio of 1.37 and a debt-to-equity ratio of 0.41.

Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, January 31st. The aerospace company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.04. Raytheon had a net margin of 10.75% and a return on equity of 25.81%. The business had revenue of $7.36 billion for the quarter, compared to analysts’ expectations of $7.50 billion. During the same period last year, the business earned $2.03 EPS. As a group, equities research analysts forecast that Raytheon will post 11.59 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, January 31st. Stockholders of record on Wednesday, January 2nd were issued a $0.8675 dividend. This represents a $3.47 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Monday, December 31st. Raytheon’s dividend payout ratio is currently 32.70%.

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About Raytheon

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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