Hudson Canyon Investment Counselors LLC decreased its stake in Raytheon Co. (NYSE:RTN) by 2.5% during the second quarter, Holdings Channel reports. The institutional investor owned 10,236 shares of the company’s stock after selling 260 shares during the period. Raytheon makes up approximately 1.6% of Hudson Canyon Investment Counselors LLC’s holdings, making the stock its 22nd largest position. Hudson Canyon Investment Counselors LLC’s holdings in Raytheon were worth $1,392,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. USS Investment Management Ltd raised its position in Raytheon by 4.7% in the first quarter. USS Investment Management Ltd now owns 1,064,504 shares of the company’s stock valued at $130,529,000 after buying an additional 48,265 shares in the last quarter. Baker Ellis Asset Management LLC raised its position in Raytheon by 11.5% in the first quarter. Baker Ellis Asset Management LLC now owns 8,270 shares of the company’s stock valued at $1,014,000 after buying an additional 850 shares in the last quarter. J.Safra Asset Management Corp bought a new position in Raytheon during the first quarter valued at about $291,000. BlackRock Institutional Trust Company N.A. raised its position in Raytheon by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 8,783,318 shares of the company’s stock valued at $1,077,098,000 after buying an additional 34,294 shares in the last quarter. Finally, BlackRock Group LTD raised its position in Raytheon by 21.9% in the first quarter. BlackRock Group LTD now owns 3,100,141 shares of the company’s stock valued at $380,171,000 after buying an additional 556,386 shares in the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.
Raytheon Co. (NYSE:RTN) traded up 1.31% on Monday, hitting $137.17. The company had a trading volume of 1,681,425 shares. Raytheon Co. has a one year low of $107.78 and a one year high of $143.39. The stock has a market capitalization of $40.48 billion, a PE ratio of 19.17 and a beta of 0.64. The stock has a 50 day moving average of $139.62 and a 200-day moving average of $133.68.
Raytheon (NYSE:RTN) last announced its quarterly earnings results on Thursday, July 28th. The company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.64. The business had revenue of $6 billion for the quarter, compared to analyst estimates of $5.83 billion. Raytheon had a return on equity of 19.26% and a net margin of 9.02%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.65 earnings per share. Equities analysts anticipate that Raytheon Co. will post $7.41 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Wednesday, October 5th will be issued a $0.7325 dividend. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $2.93 annualized dividend and a yield of 2.14%. Raytheon’s payout ratio is currently 40.86%.
A number of equities analysts have issued reports on the company. Argus restated a “buy” rating and set a $161.00 target price on shares of Raytheon in a report on Wednesday, August 3rd. Zacks Investment Research cut Raytheon from a “buy” rating to a “hold” rating in a report on Tuesday, July 19th. JPMorgan Chase & Co. set a $145.00 price objective on Raytheon and gave the company a “buy” rating in a report on Friday, July 29th. Wells Fargo & Co. reiterated a “buy” rating on shares of Raytheon in a report on Thursday, June 9th. Finally, Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of Raytheon in a report on Tuesday, June 7th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $174.93.
In other Raytheon news, Director Vernon E. Clark sold 2,540 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $141.01, for a total value of $358,165.40. Following the transaction, the director now owns 7,246 shares in the company, valued at $1,021,758.46. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is owned by company insiders.
Raytheon Company Profile
Raytheon Company (Raytheon), together with its subsidiaries, is a technology company. The Company develops technologically integrated products, services and solutions in various markets, such as sensing; effects; command, control, communications, computers, cyber and intelligence (C5I); mission support, and cybersecurity.
Want to see what other hedge funds are holding RTN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raytheon Co. (NYSE:RTN).
Receive News & Ratings for Raytheon Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon Co. and related companies with MarketBeat.com's FREE daily email newsletter.