Raytheon (RTN) Holdings Cut by First Interstate Bank

First Interstate Bank decreased its stake in shares of Raytheon (NYSE:RTN) by 7.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,178 shares of the aerospace company’s stock after selling 100 shares during the quarter. First Interstate Bank’s holdings in Raytheon were worth $180,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of RTN. FMR LLC increased its stake in Raytheon by 3.6% during the 2nd quarter. FMR LLC now owns 8,242,330 shares of the aerospace company’s stock valued at $1,592,253,000 after purchasing an additional 283,720 shares in the last quarter. Jaffetilchin Investment Partners LLC acquired a new position in Raytheon during the 3rd quarter valued at approximately $206,000. Atria Investments LLC increased its stake in Raytheon by 5.5% during the 3rd quarter. Atria Investments LLC now owns 23,123 shares of the aerospace company’s stock valued at $4,779,000 after purchasing an additional 1,214 shares in the last quarter. We Are One Seven LLC acquired a new position in Raytheon during the 3rd quarter valued at approximately $943,000. Finally, Addison Capital Co increased its stake in Raytheon by 16.1% during the 3rd quarter. Addison Capital Co now owns 1,799 shares of the aerospace company’s stock valued at $372,000 after purchasing an additional 250 shares in the last quarter. Institutional investors and hedge funds own 73.32% of the company’s stock.

Get Raytheon alerts:

A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $221.00 price objective on the stock in a research note on Thursday, October 11th. ValuEngine upgraded shares of Raytheon from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. Susquehanna Bancshares assumed coverage on shares of Raytheon in a research note on Thursday, January 10th. They issued a “positive” rating and a $187.00 price objective on the stock. Argus reiterated a “buy” rating and issued a $200.00 price objective on shares of Raytheon in a research note on Friday. Finally, Morgan Stanley cut their price objective on shares of Raytheon from $228.00 to $221.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. Raytheon has an average rating of “Buy” and an average target price of $217.58.

Shares of NYSE RTN opened at $165.96 on Friday. Raytheon has a 1 year low of $144.27 and a 1 year high of $229.75. The firm has a market cap of $46.89 billion, a P/E ratio of 15.64, a PEG ratio of 1.03 and a beta of 0.95. The company has a current ratio of 1.49, a quick ratio of 1.37 and a debt-to-equity ratio of 0.42.

Raytheon (NYSE:RTN) last announced its quarterly earnings results on Thursday, January 31st. The aerospace company reported $2.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.89 by $0.04. Raytheon had a net margin of 10.75% and a return on equity of 26.26%. The firm had revenue of $7.36 billion for the quarter, compared to the consensus estimate of $7.50 billion. During the same period in the prior year, the firm posted $2.03 earnings per share. On average, research analysts anticipate that Raytheon will post 11.5 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, January 31st. Investors of record on Wednesday, January 2nd were issued a dividend of $0.8675 per share. This represents a $3.47 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date was Monday, December 31st. Raytheon’s dividend payout ratio (DPR) is presently 32.70%.

TRADEMARK VIOLATION WARNING: This piece was first posted by Ticker Report and is the property of of Ticker Report. If you are viewing this piece on another publication, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark legislation. The original version of this piece can be viewed at https://www.tickerreport.com/banking-finance/4122398/raytheon-rtn-holdings-cut-by-first-interstate-bank.html.

Raytheon Company 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.

Read More: How to calculate the annual rate of depreciation

Want to see what other hedge funds are holding RTN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raytheon (NYSE:RTN).