1ST Source Bank cut its stake in Raytheon Co. (NYSE:RTN) by 6.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,018 shares of the company’s stock after selling 139 shares during the period. 1ST Source Bank’s holdings in Raytheon were worth $274,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Sanders Capital LLC raised its stake in Raytheon by 0.8% in the second quarter. Sanders Capital LLC now owns 1,131,091 shares of the company’s stock valued at $153,344,000 after buying an additional 9,071 shares during the period. Ferguson Wellman Capital Management Inc. increased its position in shares of Raytheon by 6.5% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 317,893 shares of the company’s stock valued at $43,217,000 after buying an additional 19,421 shares in the last quarter. Artemis Investment Management LLP increased its position in shares of Raytheon by 60.4% in the second quarter. Artemis Investment Management LLP now owns 95,575 shares of the company’s stock valued at $12,993,000 after buying an additional 35,975 shares in the last quarter. Gluskin Sheff & Assoc Inc. increased its position in shares of Raytheon by 90.1% in the second quarter. Gluskin Sheff & Assoc Inc. now owns 106,910 shares of the company’s stock valued at $14,534,000 after buying an additional 50,679 shares in the last quarter. Finally, Royal Bank of Canada increased its position in shares of Raytheon by 66.7% in the first quarter. Royal Bank of Canada now owns 1,136,397 shares of the company’s stock valued at $139,356,000 after buying an additional 454,613 shares in the last quarter. Hedge funds and other institutional investors own 77.89% of the company’s stock.
Shares of Raytheon Co. (NYSE:RTN) traded up 0.48% during trading on Tuesday, hitting $137.94. 407,681 shares of the stock were exchanged. The company has a market cap of $40.71 billion, a price-to-earnings ratio of 19.28 and a beta of 0.64. Raytheon Co. has a one year low of $111.60 and a one year high of $143.39. The stock’s 50 day moving average price is $138.18 and its 200-day moving average price is $134.88.
Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, July 28th. The company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.64. The firm had revenue of $6 billion for the quarter, compared to analyst estimates of $5.83 billion. Raytheon had a net margin of 9.02% and a return on equity of 19.26%. Raytheon’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.65 earnings per share. On average, analysts predict that Raytheon Co. will post $7.41 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Wednesday, October 5th will be given a dividend of $0.7325 per share. The ex-dividend date is Monday, October 3rd. This represents a $2.93 dividend on an annualized basis and a yield of 2.13%. Raytheon’s payout ratio is presently 40.86%.
Several research analysts recently weighed in on RTN shares. Jefferies Group reaffirmed a “buy” rating on shares of Raytheon in a report on Wednesday, July 6th. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $151.00 target price for the company in a report on Monday, July 4th. Stifel Nicolaus upped their target price on shares of Raytheon from $140.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Citigroup Inc. upped their target price on shares of Raytheon from $145.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, September 6th. Finally, Argus reaffirmed a “buy” rating and issued a $161.00 target price on shares of Raytheon in a report on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $174.67.
In related news, Director Vernon E. Clark sold 2,540 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $141.01, for a total transaction of $358,165.40. Following the transaction, the director now directly owns 7,246 shares in the company, valued at $1,021,758.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company’s stock.
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.