Mizuho Securities Co. Ltd. Sells 500 Shares of Raytheon (RTN)

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Mizuho Securities Co. Ltd. trimmed its position in shares of Raytheon (NYSE:RTN) by 62.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 300 shares of the aerospace company’s stock after selling 500 shares during the quarter. Mizuho Securities Co. Ltd.’s holdings in Raytheon were worth $55,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in RTN. Vanguard Group Inc lifted its stake in shares of Raytheon by 0.9% in the third quarter. Vanguard Group Inc now owns 23,074,017 shares of the aerospace company’s stock worth $4,768,477,000 after buying an additional 212,408 shares in the last quarter. Elite Wealth Management Inc. bought a new position in shares of Raytheon in the fourth quarter worth approximately $215,000. Sumitomo Life Insurance Co. lifted its stake in shares of Raytheon by 17.2% in the fourth quarter. Sumitomo Life Insurance Co. now owns 17,571 shares of the aerospace company’s stock worth $2,695,000 after buying an additional 2,583 shares in the last quarter. Calamos Advisors LLC lifted its stake in shares of Raytheon by 80.2% in the fourth quarter. Calamos Advisors LLC now owns 370,451 shares of the aerospace company’s stock worth $56,809,000 after buying an additional 164,853 shares in the last quarter. Finally, Notis McConarty Edward bought a new position in shares of Raytheon in the fourth quarter worth approximately $337,000. Hedge funds and other institutional investors own 74.93% of the company’s stock.

In other Raytheon news, VP Frank R. Jimenez sold 1,417 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $180.10, for a total transaction of $255,201.70. Following the completion of the sale, the vice president now directly owns 30,748 shares of the company’s stock, valued at $5,537,714.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Michael J. Wood sold 543 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $180.72, for a total transaction of $98,130.96. Following the sale, the chief accounting officer now directly owns 15,081 shares of the company’s stock, valued at $2,725,438.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,062 shares of company stock worth $2,544,079. 0.18% of the stock is owned by insiders.

RTN has been the topic of several analyst reports. Argus reiterated a “buy” rating and issued a $200.00 target price on shares of Raytheon in a research note on Friday, February 1st. ValuEngine downgraded shares of Raytheon from a “hold” rating to a “sell” rating in a research report on Thursday, January 31st. Alembic Global Advisors upgraded shares of Raytheon from a “neutral” rating to an “overweight” rating and set a $214.00 price objective on the stock in a research report on Tuesday, February 5th. UBS Group downgraded shares of Raytheon from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $220.00 to $200.00 in a research report on Wednesday, April 3rd. Finally, Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $205.00 price objective on the stock in a research report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $209.69.

Shares of Raytheon stock opened at $180.00 on Friday. The company has a market cap of $50.38 billion, a P/E ratio of 16.97, a P/E/G ratio of 1.40 and a beta of 0.96. Raytheon has a twelve month low of $144.27 and a twelve month high of $214.76. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.31 and a current ratio of 1.43.

Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, April 25th. The aerospace company reported $2.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.45 by $0.32. The company had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.58 billion. Raytheon had a net margin of 11.11% and a return on equity of 26.27%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.20 earnings per share. On average, research analysts anticipate that Raytheon will post 11.61 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Wednesday, April 10th were given a dividend of $0.9425 per share. This is an increase from Raytheon’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.77 dividend on an annualized basis and a yield of 2.09%. Raytheon’s dividend payout ratio is 35.53%.

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About Raytheon

Raytheon Company develops integrated products, services, and solutions for the 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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