Atlas Brown Inc. cut its position in shares of Raytheon Co. (NYSE:RTN) by 1.2% during the second quarter, Holdings Channel reports. The fund owned 6,630 shares of the company’s stock after selling 80 shares during the period. Atlas Brown Inc.’s holdings in Raytheon were worth $901,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Quadrant Capital Group LLC boosted its stake in shares of Raytheon by 5.6% in the second quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock worth $131,000 after buying an additional 54 shares during the last quarter. Integrated Investment Consultants LLC boosted its stake in shares of Raytheon by 11.5% in the second quarter. Integrated Investment Consultants LLC now owns 1,135 shares of the company’s stock worth $154,000 after buying an additional 117 shares during the last quarter. Foundry Partners LLC acquired a new stake in shares of Raytheon during the second quarter worth approximately $201,000. Dowling & Yahnke LLC acquired a new stake in shares of Raytheon during the second quarter worth approximately $203,000. Finally, Barry Investment Advisors LLC acquired a new stake in shares of Raytheon during the second quarter worth approximately $206,000. 77.90% of the stock is owned by institutional investors and hedge funds.
Shares of Raytheon Co. (NYSE:RTN) traded down 0.55% during trading on Friday, hitting $137.34. 1,092,815 shares of the company traded hands. The stock has a market cap of $40.53 billion, a price-to-earnings ratio of 19.19 and a beta of 0.64. The firm has a 50 day moving average price of $138.42 and a 200-day moving average price of $134.50. Raytheon Co. has a one year low of $110.37 and a one year high of $143.39.
Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, July 28th. The company reported $2.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.64. The firm had revenue of $6 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm posted $1.65 EPS. Analysts predict that Raytheon Co. will post $7.41 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders 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 dividend yield of 2.13%. Raytheon’s dividend payout ratio (DPR) is 40.86%.
A number of equities research analysts have recently commented on RTN shares. Jefferies Group reaffirmed a “buy” rating on shares of Raytheon in a report on Wednesday, July 6th. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $151.00 price target on the stock in a research note on Monday, July 4th. Stifel Nicolaus boosted their price target on shares of Raytheon from $140.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Citigroup Inc. boosted their price target on shares of Raytheon from $145.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, September 6th. Finally, Argus reiterated a “buy” rating and set a $161.00 price target on shares of Raytheon in a research note on Wednesday, August 3rd. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $174.67.
In other Raytheon 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 sale, the director now directly owns 7,246 shares in the company, valued at approximately $1,021,758.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.21% of the company’s stock.
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.
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