Baker Ellis Asset Management LLC lowered its position in shares of Raytheon Co. (NYSE:RTN) by 1.8% during the second quarter, Holdings Channel reports. The institutional investor owned 8,120 shares of the company’s stock after selling 150 shares during the period. Baker Ellis Asset Management LLC’s holdings in Raytheon were worth $1,104,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in RTN. Monetary Management Group Inc. boosted its stake in shares of Raytheon by 840.0% in the first quarter. Monetary Management Group Inc. now owns 940 shares of the company’s stock worth $115,000 after buying an additional 840 shares in the last quarter. 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 in 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 in the last quarter. Foundry Partners LLC acquired a new stake in shares of Raytheon during the second quarter worth approximately $201,000. Finally, Dowling & Yahnke LLC acquired a new stake in shares of Raytheon during the second quarter worth approximately $203,000. 77.90% of the stock is owned by institutional investors and hedge funds.
Raytheon Co. (NYSE:RTN) traded down 0.03% on Wednesday, reaching $137.13. 1,736,356 shares of the company traded hands. The stock has a 50 day moving average of $139.33 and a 200-day moving average of $134.04. The stock has a market capitalization of $40.47 billion, a price-to-earnings ratio of 19.16 and a beta of 0.64. Raytheon Co. has a 1-year low of $108.83 and a 1-year high of $143.39.
Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, July 28th. The company reported $2.38 EPS for the quarter, topping the consensus estimate of $1.74 by $0.64. The company earned $6 billion during the quarter, compared to analyst estimates of $5.83 billion. Raytheon had a net margin of 9.02% and a return on equity of 19.26%. The firm’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.65 EPS. On average, equities analysts anticipate 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. Investors of record on Wednesday, October 5th will be issued a $0.7325 dividend. This represents a $2.93 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Monday, October 3rd. Raytheon’s payout ratio is presently 40.86%.
A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $151.00 price objective for the company in a research note on Monday, July 4th. Wells Fargo & Co. reissued a “buy” rating on shares of Raytheon in a research note on Thursday, June 9th. Stifel Nicolaus increased their price objective 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. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Raytheon in a research note on Tuesday, June 7th. Finally, Jefferies Group increased their price objective on shares of Raytheon from $145.00 to $158.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $174.93.
In related news, Director Vernon E. Clark sold 2,540 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $141.01, for a total value of $358,165.40. Following the completion of the sale, the director now owns 7,246 shares of the company’s stock, valued at approximately $1,021,758.46. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.21% of the stock is currently owned by corporate insiders.
Raytheon Company Profile
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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