Amalgamated Bank lowered its stake in shares of Raytheon (NYSE:RTN) by 2.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 42,226 shares of the aerospace company’s stock after selling 1,236 shares during the period. Amalgamated Bank’s holdings in Raytheon were worth $6,475,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in RTN. Athena Capital Advisors LLC acquired a new stake in Raytheon during the 4th quarter worth approximately $26,000. Sontag Advisory LLC acquired a new stake in Raytheon during the 4th quarter worth approximately $26,000. Bremer Trust National Association acquired a new stake in Raytheon during the 4th quarter worth approximately $33,000. Laurel Wealth Advisors LLC acquired a new stake in Raytheon during the 4th quarter worth approximately $34,000. Finally, Proficio Capital Partners LLC lifted its holdings in Raytheon by 42.9% during the 4th quarter. Proficio Capital Partners LLC now owns 223 shares of the aerospace company’s stock worth $34,000 after buying an additional 67 shares in the last quarter. Institutional investors own 75.74% of the company’s stock.
In related news, CAO Michael J. Wood sold 3,501 shares of Raytheon stock in a transaction on Friday, February 15th. The shares were sold at an average price of $183.86, for a total transaction of $643,693.86. Following the sale, the chief accounting officer now directly owns 19,217 shares in the company, valued at approximately $3,533,237.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Anthony F. O’brien sold 9,656 shares of Raytheon stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $181.06, for a total transaction of $1,748,315.36. Following the sale, the vice president now owns 34,057 shares in the company, valued at $6,166,360.42. The disclosure for this sale can be found here. Insiders sold a total of 17,251 shares of company stock worth $3,144,855 over the last 90 days. Company insiders own 0.19% of the company’s stock.
Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, January 31st. The aerospace company reported $2.93 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 analyst estimates of $7.50 billion. During the same period last year, the business earned $2.03 EPS. Equities analysts expect that Raytheon will post 11.59 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Wednesday, April 10th will be issued a $0.9425 dividend. This represents a $3.77 dividend on an annualized basis and a dividend yield of 2.09%. This is a positive change from Raytheon’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend is Tuesday, April 9th. Raytheon’s dividend payout ratio (DPR) is presently 32.70%.
A number of equities research analysts have issued reports on the stock. Alembic Global Advisors upgraded shares of Raytheon from a “neutral” rating to an “overweight” rating and set a $214.00 target price on the stock in a report on Tuesday, February 5th. Barclays reduced 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. ValuEngine upgraded shares of Raytheon from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Argus restated a “buy” rating and issued a $200.00 price objective on shares of Raytheon in a report on Friday, February 1st. Finally, Citigroup reduced their price objective 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $217.31.
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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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