Sit Investment Associates Inc. Has $26,292,000 Position in Raytheon Co. (RTN)
Sit Investment Associates Inc. lowered its stake in shares of Raytheon Co. (NYSE:RTN) by 48.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 193,395 shares of the company’s stock after selling 182,475 shares during the period. Sit Investment Associates Inc. owned 0.07% of Raytheon worth $26,292,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. J.Safra Asset Management Corp acquired a new stake in Raytheon during the first quarter valued at approximately $291,000. Baker Ellis Asset Management LLC boosted its stake in Raytheon by 11.5% in the first quarter. Baker Ellis Asset Management LLC now owns 8,270 shares of the company’s stock valued at $1,014,000 after buying an additional 850 shares during the period. USS Investment Management Ltd boosted its stake in Raytheon by 4.7% in the first quarter. USS Investment Management Ltd now owns 1,064,504 shares of the company’s stock valued at $130,529,000 after buying an additional 48,265 shares during the period. Shufro Rose & Co. LLC acquired a new stake in Raytheon during the first quarter valued at approximately $454,000. Finally, Monetary Management Group Inc. boosted its stake in Raytheon by 840.0% in the first quarter. Monetary Management Group Inc. now owns 940 shares of the company’s stock valued at $115,000 after buying an additional 840 shares during the period. Hedge funds and other institutional investors own 77.90% of the company’s stock.
Raytheon Co. (NYSE:RTN) traded up 0.7682% during trading on Thursday, hitting $138.1835. The stock had a trading volume of 1,340,306 shares. The company has a market cap of $40.78 billion, a PE ratio of 19.3102 and a beta of 0.64. Raytheon Co. has a 12 month low of $108.83 and a 12 month high of $143.39. The company’s 50 day moving average is $139.21 and its 200-day moving average is $134.06.
Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, July 28th. The company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.64. The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.83 billion. Raytheon had a return on equity of 19.26% and a net margin of 9.02%. Raytheon’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.65 earnings per share. On average, equities research analysts predict that Raytheon Co. will post $7.41 earnings per share for the current year.
The firm 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 yield of 2.14%. Raytheon’s dividend payout ratio is currently 40.86%.
Several equities research analysts recently commented on RTN shares. Jefferies Group reaffirmed a “buy” rating on shares of Raytheon in a research report on Wednesday, July 6th. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $151.00 price objective on the stock in a research report on Monday, July 4th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Raytheon in a research report on Thursday, June 9th. Stifel Nicolaus increased their price objective on Raytheon from $140.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Finally, Citigroup Inc. raised their target price on Raytheon from $145.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, September 6th. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $174.67.
In other Raytheon news, Director Vernon E. Clark sold 2,540 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $141.01, for a total transaction of $358,165.40. Following the transaction, the director now owns 7,246 shares in the company, valued at $1,021,758.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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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