Schroder Investment Management Group lowered its stake in shares of Raytheon Company (NYSE:RTN) by 4.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 438,151 shares of the aerospace company’s stock after selling 18,599 shares during the quarter. Schroder Investment Management Group owned about 0.15% of Raytheon worth $70,293,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. WESPAC Advisors LLC increased its stake in shares of Raytheon by 42.9% during the 2nd quarter. WESPAC Advisors LLC now owns 3,325 shares of the aerospace company’s stock valued at $537,000 after acquiring an additional 998 shares during the last quarter. Sheaff Brock Investment Advisors LLC increased its position in Raytheon by 2.4% during the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 2,231 shares of the aerospace company’s stock worth $360,000 after purchasing an additional 53 shares in the last quarter. Polaris Greystone Financial Group LLC increased its position in Raytheon by 23.3% during the 2nd quarter. Polaris Greystone Financial Group LLC now owns 122,520 shares of the aerospace company’s stock worth $19,784,000 after purchasing an additional 23,120 shares in the last quarter. Fiduciary Trust Co. increased its position in Raytheon by 3.0% during the 2nd quarter. Fiduciary Trust Co. now owns 21,295 shares of the aerospace company’s stock worth $3,439,000 after purchasing an additional 618 shares in the last quarter. Finally, Ffcm LLC increased its position in Raytheon by 10.6% during the 2nd quarter. Ffcm LLC now owns 9,671 shares of the aerospace company’s stock worth $1,562,000 after purchasing an additional 927 shares in the last quarter. 73.62% of the stock is owned by institutional investors.
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In related news, VP Frank R. Jimenez sold 650 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $187.27, for a total value of $121,725.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert E. Beauchamp purchased 1,162 shares of the business’s stock in a transaction on Monday, July 31st. The shares were bought at an average price of $171.99 per share, with a total value of $199,852.38. Following the purchase, the director now directly owns 4,303 shares in the company, valued at approximately $740,072.97. The disclosure for this purchase can be found here. Insiders sold a total of 5,770 shares of company stock valued at $1,052,376 over the last ninety days. 0.19% of the stock is currently owned by corporate insiders.
RTN has been the subject of a number of research analyst reports. Robert W. Baird reissued an “outperform” rating and set a $212.00 target price (up previously from $170.00) on shares of Raytheon in a research report on Thursday, August 10th. Vetr downgraded shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price objective for the company. in a research report on Wednesday, August 30th. Zacks Investment Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. BidaskClub downgraded shares of Raytheon from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Buckingham Research increased their price objective on shares of Raytheon from $190.00 to $199.00 and gave the company a “buy” rating in a research report on Friday, August 11th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Raytheon currently has a consensus rating of “Buy” and an average price target of $193.19.
Shares of Raytheon Company (RTN) opened at 188.61 on Tuesday. Raytheon Company has a 12 month low of $132.89 and a 12 month high of $189.64. The firm has a 50-day moving average price of $184.25 and a 200 day moving average price of $168.60. The firm has a market capitalization of $54.74 billion, a price-to-earnings ratio of 26.05 and a beta of 0.59.
Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.15. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The firm had revenue of $6.28 billion during the quarter, compared to analyst estimates of $6.24 billion. During the same period last year, the company posted $2.38 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. On average, analysts anticipate that Raytheon Company will post $7.59 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Thursday, October 12th will be given a $0.7975 dividend. This represents a $3.19 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Wednesday, October 11th. Raytheon’s payout ratio is 43.94%.
Raytheon Company is a technology company, which specializes in defense and other government markets. The Company develops integrated products, services and solutions in various markets, including sensing; effects; command, control, communications, computers, cyber and intelligence; mission support, and cybersecurity.
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