United Services Automobile Association Decreases Stake in Raytheon Company (NYSE:RTN)

United Services Automobile Association lowered its stake in shares of Raytheon Company (NYSE:RTN) by 28.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm 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.

Other hedge funds have also modified their holdings of the company. Woodstock Corp raised its position in shares of Raytheon by 1.3% in the first quarter. Woodstock Corp now owns 24,243 shares of the aerospace company’s stock valued at $3,697,000 after buying an additional 306 shares during the period. Renaissance Investment Group LLC raised its position in shares of Raytheon by 4.0% in the first quarter. Renaissance Investment Group LLC now owns 26,975 shares of the aerospace company’s stock valued at $4,114,000 after buying an additional 1,040 shares during the period. Centre Asset Management LLC purchased a new position in shares of Raytheon during the first quarter valued at about $4,816,000. Private Asset Management Inc. bought a new position in shares of Raytheon during the first quarter worth $4,308,000. Finally, Bath Savings Trust Co raised its position 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 worth $361,000 after buying an additional 20 shares during the last quarter. Institutional investors own 74.98% of the company’s stock.

Shares of Raytheon Company (NYSE RTN) traded down 0.94% during midday trading on Thursday, hitting $177.62. 3,676,756 shares of the stock were exchanged. The firm’s 50 day moving average is $168.07 and its 200-day moving average is $158.27. The stock has a market capitalization of $51.55 billion, a price-to-earnings ratio of 24.53 and a beta of 0.59. Raytheon Company has a 1-year low of $132.89 and a 1-year high of $181.05.

Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.15. The business had revenue of $6.28 billion during the quarter, compared to analyst estimates of $6.24 billion. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. Raytheon’s revenue was up 4.2% compared to the same quarter last year. During the same period last year, the business earned $2.38 EPS. On average, analysts predict that Raytheon Company will post $7.59 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Wednesday, July 5th were issued a $0.7975 dividend. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend was Friday, June 30th. Raytheon’s payout ratio is 43.94%.

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A number of brokerages recently weighed in on RTN. Stifel Nicolaus upped their target price on shares of Raytheon from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. BidaskClub raised shares of Raytheon from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Vetr lowered shares of Raytheon from a “buy” rating to a “hold” rating and set a $166.44 target price for the company. in a research note on Tuesday, May 23rd. Argus reaffirmed a “buy” rating and issued a $195.00 target price (up from $175.00) on shares of Raytheon in a research note on Friday, August 4th. Finally, Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $183.00 target price for the company in a research note on Tuesday, May 30th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Raytheon currently has a consensus rating of “Buy” and an average price target of $180.12.

In other Raytheon news, VP Wesley D. Kremer sold 1,010 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $163.10, for a total transaction of $164,731.00. Following the sale, the vice president now owns 23,136 shares in the company, valued at approximately $3,773,481.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Thomas A. Kennedy sold 10,703 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $162.05, for a total transaction of $1,734,421.15. Following the sale, the chairman now owns 61,671 shares in the company, valued at approximately $9,993,785.55. The disclosure for this sale can be found here. In the last three months, insiders sold 15,911 shares of company stock worth $2,580,752. 0.19% of the stock is currently owned by insiders.

About Raytheon

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.

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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