Raytheon (RTN) Shares Sold by Zacks Investment Management

Zacks Investment Management trimmed its position in shares of Raytheon (NYSE:RTN) by 5.9% during the 4th quarter, HoldingsChannel reports. The firm owned 99,018 shares of the aerospace company’s stock after selling 6,171 shares during the quarter. Zacks Investment Management’s holdings in Raytheon were worth $15,184,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Athena Capital Advisors LLC purchased a new position in shares of Raytheon during the 4th quarter valued at $26,000. Bremer Trust National Association purchased a new position in shares of Raytheon during the 4th quarter valued at $33,000. Laurel Wealth Advisors LLC purchased a new position in shares of Raytheon during the 4th quarter valued at $34,000. Proficio Capital Partners LLC grew its holdings in shares of Raytheon by 42.9% during the 4th quarter. Proficio Capital Partners LLC now owns 223 shares of the aerospace company’s stock valued at $34,000 after acquiring an additional 67 shares in the last quarter. Finally, Capital Investment Advisory Services LLC purchased a new position in shares of Raytheon during the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 74.68% of the company’s stock.

In other news, VP Frank R. Jimenez sold 4,094 shares of the business’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $183.89, for a total transaction of $752,845.66. Following the transaction, the vice president now owns 36,964 shares in the company, valued at approximately $6,797,309.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Anthony F. O’brien sold 9,656 shares of the business’s stock in a transaction dated 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 transaction, the vice president now owns 34,057 shares in the company, valued at approximately $6,166,360.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,251 shares of company stock valued at $3,144,855. Company insiders own 0.19% of the company’s stock.

Raytheon stock traded up $2.38 on Tuesday, reaching $182.61. 15,174 shares of the stock were exchanged, compared to its average volume of 1,777,658. The firm has a market cap of $50.22 billion, a price-to-earnings ratio of 17.21, a P/E/G ratio of 1.35 and a beta of 1.00. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.46 and a quick ratio of 1.37. Raytheon has a twelve month low of $144.27 and a twelve month high of $229.75.

Raytheon (NYSE:RTN) last released its earnings results on Thursday, January 31st. The aerospace company reported $2.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.89 by $0.04. The firm had revenue of $7.36 billion during the quarter, compared to analyst estimates of $7.50 billion. Raytheon had a net margin of 10.75% and a return on equity of 25.81%. During the same quarter in the previous year, the business earned $2.03 EPS. As a group, sell-side analysts expect that Raytheon will post 11.59 earnings per share for the current year.

Several research firms recently issued reports on RTN. Citigroup reduced their price objective on shares of Raytheon from $230.00 to $208.00 and set a “buy” rating for the company in a research note on Monday, January 14th. Zacks Investment Research lowered shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, December 31st. Alembic Global Advisors raised shares of Raytheon from a “neutral” rating to an “overweight” rating and set a $214.00 price objective for the company in a research note on Tuesday, February 5th. ValuEngine raised shares of Raytheon from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. Finally, Barclays reduced their price objective on shares of Raytheon from $239.00 to $195.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 4th. One equities 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 stock. Raytheon presently has an average rating of “Buy” and an average price target of $217.31.

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Raytheon Profile

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.

Further Reading: Treasury Bonds

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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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