Rainier Investment Management LLC decreased its position in shares of Raytheon Co. (NYSE:RTN) by 5.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 75,500 shares of the company’s stock after selling 4,700 shares during the period. Rainier Investment Management LLC’s holdings in Raytheon were worth $10,264,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in RTN. Legal & General Group Plc boosted its stake in shares of Raytheon by 3.0% in the first quarter. Legal & General Group Plc now owns 1,332,513 shares of the company’s stock worth $163,410,000 after buying an additional 38,809 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its stake in shares of Raytheon by 150.2% in the first quarter. Silvercrest Asset Management Group LLC now owns 6,654 shares of the company’s stock worth $816,000 after buying an additional 3,995 shares during the last quarter. Springbok Capital Management LLC boosted its stake in shares of Raytheon by 111.4% in the first quarter. Springbok Capital Management LLC now owns 3,160 shares of the company’s stock worth $388,000 after buying an additional 1,665 shares during the last quarter. A.R.T. Advisors LLC boosted its stake in shares of Raytheon by 52.4% in the first quarter. A.R.T. Advisors LLC now owns 35,206 shares of the company’s stock worth $4,317,000 after buying an additional 12,100 shares during the last quarter. Finally, Magnetar Financial LLC boosted its stake in shares of Raytheon by 261.8% in the first quarter. Magnetar Financial LLC now owns 5,847 shares of the company’s stock worth $717,000 after buying an additional 4,231 shares during the last quarter. Institutional investors own 78.10% of the company’s stock.

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

Shares of Raytheon Co. (NYSE:RTN) traded up 0.37% during midday trading on Friday, reaching $148.26. 2,204,655 shares of the company’s stock traded hands. Raytheon Co. has a one year low of $115.73 and a one year high of $152.58. The company has a 50-day moving average of $138.03 and a 200-day moving average of $136.46. The company has a market capitalization of $43.54 billion, a price-to-earnings ratio of 19.80 and a beta of 0.62.

Raytheon (NYSE:RTN) last announced its quarterly earnings results on Thursday, October 27th. The company reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.15. Raytheon had a net margin of 9.26% and a return on equity of 19.98%. The company had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.04 billion. During the same quarter in the previous year, the business posted $1.47 earnings per share. Raytheon’s quarterly revenue was up 4.3% on a year-over-year basis. Equities research analysts anticipate that Raytheon Co. will post $7.46 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Wednesday, October 5th were given a $0.7325 dividend. This represents a $2.93 annualized dividend and a yield of 1.98%. The ex-dividend date was Monday, October 3rd. Raytheon’s dividend payout ratio is presently 39.12%.

RTN has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Tuesday, July 19th. Stifel Nicolaus upped their price target on shares of Raytheon from $140.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Deutsche Bank AG upped their price target on shares of Raytheon from $135.00 to $140.00 and gave the company a “hold” rating in a research note on Friday, July 29th. Jefferies Group upped their target price on shares of Raytheon from $145.00 to $158.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Finally, JPMorgan Chase & Co. set a $145.00 target price on shares of Raytheon and gave the stock a “buy” rating in a report on Friday, July 29th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $173.89.

About Raytheon

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.

5 Day Chart for NYSE:RTN

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