United Services Automobile Association Has $60.40 Million Position in Raytheon Company (NYSE:RTN)

United Services Automobile Association decreased its position 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 institutional investor 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.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Crestwood Advisors Group LLC acquired a new position in Raytheon during the first quarter worth approximately $110,000. Oakworth Capital Inc. boosted its position in Raytheon by 156.1% in the first quarter. Oakworth Capital Inc. now owns 730 shares of the aerospace company’s stock worth $111,000 after buying an additional 445 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in Raytheon during the first quarter worth approximately $111,000. Orrstown Financial Services Inc. boosted its position in Raytheon by 22.6% in the first quarter. Orrstown Financial Services Inc. now owns 759 shares of the aerospace company’s stock worth $116,000 after buying an additional 140 shares in the last quarter. Finally, Adirondack Trust Co. boosted its position in Raytheon by 7.1% in the first quarter. Adirondack Trust Co. now owns 803 shares of the aerospace company’s stock worth $122,000 after buying an additional 53 shares in the last quarter. 74.84% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Raytheon Company (RTN) opened at 169.37 on Monday. The stock’s 50 day moving average price is $163.55 and its 200 day moving average price is $155.62. The stock has a market capitalization of $49.30 billion, a PE ratio of 21.82 and a beta of 0.58. Raytheon Company has a one year low of $132.89 and a one year high of $169.49.

Raytheon (NYSE:RTN) last released its earnings results on Thursday, April 27th. The aerospace company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.12. The business had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.83 billion. Raytheon had a return on equity of 20.45% and a net margin of 9.41%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.43 earnings per share. Equities research analysts predict that Raytheon Company will post $7.48 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 3rd. Stockholders of record on Wednesday, July 5th will be given a $0.7975 dividend. The ex-dividend date of this dividend is Friday, June 30th. This represents a $3.19 annualized dividend and a dividend yield of 1.88%. Raytheon’s dividend payout ratio (DPR) is presently 41.16%.

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A number of research analysts recently commented on RTN shares. Stifel Nicolaus boosted their price target on Raytheon from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Cowen and Company reissued a “buy” rating and issued a $170.00 price target on shares of Raytheon in a report on Monday, April 10th. Credit Suisse Group reissued a “buy” rating and issued a $170.00 price target on shares of Raytheon in a report on Friday, March 31st. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $175.00 price target on the stock in a report on Monday, May 1st. Finally, Vetr raised Raytheon from a “hold” rating to a “buy” rating and set a $167.16 price target on the stock in a report on Monday, May 22nd. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Raytheon presently has an average rating of “Buy” and an average price target of $168.45.

In related news, VP Wesley D. Kremer sold 1,010 shares of Raytheon stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $163.10, for a total transaction of $164,731.00. Following the transaction, the vice president now owns 23,136 shares in the company, valued at $3,773,481.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Michael J. Wood sold 1,442 shares of Raytheon stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $162.98, for a total value 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 15,911 shares of company stock worth $2,580,752. Company insiders own 0.19% of the company’s stock.

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.

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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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