United Services Automobile Association decreased its stake in shares of Raytheon Company (NYSE:RTN) by 28.2% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 396,080 shares of the aerospace company’s stock after selling 155,942 shares during the period. United Services Automobile Association owned about 0.14% of Raytheon worth $60,402,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in RTN. Financial Architects Inc raised its stake in shares of Raytheon by 0.5% in the first quarter. Financial Architects Inc now owns 1,305 shares of the aerospace company’s stock valued at $199,000 after buying an additional 7 shares in the last quarter. Cordasco Financial Network raised its stake in shares of Raytheon by 0.5% in the first quarter. Cordasco Financial Network now owns 2,110 shares of the aerospace company’s stock valued at $322,000 after buying an additional 10 shares in the last quarter. HM Capital Management LLC raised its stake in shares of Raytheon by 0.5% in the first quarter. HM Capital Management LLC now owns 2,015 shares of the aerospace company’s stock valued at $307,000 after buying an additional 10 shares in the last quarter. Founders Capital Management LLC raised its stake in shares of Raytheon by 0.5% in the first quarter. Founders Capital Management LLC now owns 2,327 shares of the aerospace company’s stock valued at $355,000 after buying an additional 12 shares in the last quarter. Finally, Bath Savings Trust Co raised its stake in shares of Raytheon by 0.9% in the first quarter. Bath Savings Trust Co now owns 2,365 shares of the aerospace company’s stock valued at $361,000 after buying an additional 20 shares in the last quarter. 74.72% of the stock is currently owned by institutional investors.
Shares of Raytheon Company (NYSE:RTN) traded down 0.20% on Friday, hitting $176.90. The stock had a trading volume of 1,096,410 shares. The stock’s 50-day moving average price is $170.47 and its 200 day moving average price is $159.43. Raytheon Company has a 52 week low of $132.89 and a 52 week high of $181.05. The company has a market cap of $51.34 billion, a PE ratio of 24.43 and a beta of 0.59.
Raytheon (NYSE:RTN) last released its quarterly earnings results 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. The business had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.24 billion. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the firm posted $2.38 EPS. On average, analysts predict that Raytheon Company will post $7.59 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Wednesday, July 5th were issued a dividend of $0.7975 per share. The ex-dividend date was Friday, June 30th. This represents a $3.19 annualized dividend and a yield of 1.80%. Raytheon’s payout ratio is currently 43.94%.
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Several brokerages have recently issued reports on RTN. BidaskClub upgraded Raytheon from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 12th. Buckingham Research lifted their price target on Raytheon from $190.00 to $199.00 and gave the company a “buy” rating in a report on Friday, August 11th. Argus reiterated a “buy” rating and set a $195.00 price target (up from $175.00) on shares of Raytheon in a report on Friday, August 4th. Morgan Stanley assumed coverage on Raytheon in a report on Tuesday, August 8th. They set an “equal weight” rating and a $188.00 price target for the company. Finally, Robert W. Baird restated an “outperform” rating and issued a $212.00 target price (up from $170.00) on shares of Raytheon in a report on Thursday, August 10th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $183.01.
In other Raytheon news, CAO Michael J. Wood sold 1,442 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $162.98, for a total transaction of $235,017.16. Following the transaction, the chief accounting officer now owns 18,470 shares in the company, valued at approximately $3,010,240.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Wesley D. Kremer sold 1,010 shares of the firm’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $163.10, for a total value of $164,731.00. Following the transaction, the vice president now owns 23,136 shares in the company, valued at approximately $3,773,481.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,740 shares of company stock valued at $2,730,129. 0.19% of the stock is currently owned by insiders.
Raytheon Company Profile
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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