Dividend Assets Capital LLC increased its holdings in shares of Raytheon Company (NYSE:RTN) by 1.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 278,077 shares of the aerospace company’s stock after acquiring an additional 2,882 shares during the period. Raytheon comprises approximately 1.8% of Dividend Assets Capital LLC’s holdings, making the stock its 25th largest holding. Dividend Assets Capital LLC owned approximately 0.10% of Raytheon worth $44,904,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RTN. BlackRock Inc. grew its position in Raytheon by 2,166.0% during the 1st quarter. BlackRock Inc. now owns 19,407,819 shares of the aerospace company’s stock worth $2,959,694,000 after acquiring an additional 18,551,353 shares during the last quarter. Vanguard Group Inc. grew its position in Raytheon by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 21,910,520 shares of the aerospace company’s stock worth $3,341,355,000 after acquiring an additional 989,986 shares during the last quarter. Renaissance Technologies LLC grew its position in Raytheon by 66.5% during the 1st quarter. Renaissance Technologies LLC now owns 1,289,200 shares of the aerospace company’s stock worth $196,603,000 after acquiring an additional 514,800 shares during the last quarter. Independence Advisors LLC bought a new stake in Raytheon during the 2nd quarter worth approximately $28,551,000. Finally, MARSHALL WACE ASIA Ltd bought a new stake in Raytheon during the 1st quarter worth approximately $58,030,000. Institutional investors and hedge funds own 73.82% of the company’s stock.
In related news, VP Frank R. Jimenez sold 500 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $181.94, for a total value of $90,970.00. Following the sale, the vice president now owns 29,292 shares of the company’s stock, valued at $5,329,386.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Vernon E. Clark sold 829 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $180.19, for a total transaction of $149,377.51. Following the completion of the sale, the director now directly owns 7,588 shares in the company, valued at approximately $1,367,281.72. The disclosure for this sale can be found here. In the last three months, insiders sold 5,120 shares of company stock worth $930,651. 0.19% of the stock is currently owned by insiders.
A number of research firms recently commented on RTN. Zacks Investment Research lowered Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, May 29th. Jefferies Group LLC restated a “buy” rating and set a $172.00 price target on shares of Raytheon in a research report on Tuesday, May 23rd. Sanford C. Bernstein restated an “outperform” rating and set a $183.00 price target (up from $180.00) on shares of Raytheon in a research report on Sunday, July 30th. Stifel Nicolaus restated a “buy” rating and set a $185.00 price target (up from $175.00) on shares of Raytheon in a research report on Sunday, July 30th. Finally, Vetr lowered Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price target on the stock. in a research report on Tuesday, August 15th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $186.07.
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Raytheon Company (NYSE RTN) opened at 182.50 on Friday. The firm has a market cap of $52.97 billion, a P/E ratio of 25.21 and a beta of 0.58. Raytheon Company has a 1-year low of $132.89 and a 1-year high of $184.17. The stock has a 50 day moving average price of $178.41 and a 200-day moving average price of $163.78.
Raytheon (NYSE:RTN) last posted its earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.15. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The firm had revenue of $6.28 billion for the quarter, compared to analysts’ expectations of $6.24 billion. During the same quarter in the previous year, the firm posted $2.38 earnings per share. The company’s revenue was up 4.2% on a year-over-year basis. Equities research analysts forecast that Raytheon Company will post $7.59 EPS for the current year.
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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