Raytheon Company (RTN) Shares Sold by Affinity Investment Advisors LLC
Affinity Investment Advisors LLC reduced its stake in Raytheon Company (NYSE:RTN) by 61.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 5,604 shares of the aerospace company’s stock after selling 9,100 shares during the period. Affinity Investment Advisors LLC’s holdings in Raytheon were worth $905,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Raytheon by 2,166.0% in the first quarter. BlackRock Inc. now owns 19,407,819 shares of the aerospace company’s stock valued at $2,959,694,000 after buying an additional 18,551,353 shares in the last quarter. Vanguard Group Inc. boosted its stake in Raytheon by 4.7% in the first quarter. Vanguard Group Inc. now owns 21,910,520 shares of the aerospace company’s stock valued at $3,341,355,000 after buying an additional 989,986 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Raytheon by 66.5% in the first quarter. Renaissance Technologies LLC now owns 1,289,200 shares of the aerospace company’s stock worth $196,603,000 after buying an additional 514,800 shares during the period. Independence Advisors LLC acquired a new position in shares of Raytheon during the second quarter worth $28,551,000. Finally, MARSHALL WACE ASIA Ltd acquired a new position in shares of Raytheon during the first quarter worth $58,030,000. 74.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of Raytheon Company (RTN) traded down 1.08% during mid-day trading on Tuesday, hitting $178.40. 776,915 shares of the company were exchanged. The stock’s 50-day moving average price is $169.11 and its 200 day moving average price is $158.93. Raytheon Company has a 12-month low of $132.89 and a 12-month high of $181.05. The stock has a market cap of $51.78 billion, a PE ratio of 24.64 and a beta of 0.59.
Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.15. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The company had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.24 billion. During the same period in the prior year, the business earned $2.38 earnings per share. Raytheon’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities analysts anticipate that Raytheon Company will post $7.59 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 3rd. Stockholders of record on Wednesday, July 5th were given a $0.7975 dividend. The ex-dividend date of this dividend was Friday, June 30th. This represents a $3.19 annualized dividend and a dividend yield of 1.77%. Raytheon’s dividend payout ratio is 43.94%.
A number of research analysts have weighed in on RTN shares. Zacks Investment Research cut shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Friday, May 19th. Vetr cut shares of Raytheon from a “buy” rating to a “hold” rating and set a $166.27 price target on the stock. in a research report on Tuesday, May 9th. Deutsche Bank AG lifted their price target on shares of Raytheon from $156.00 to $160.00 and gave the company a “hold” rating in a research report on Friday, April 28th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $181.00 price target on shares of Raytheon in a research report on Friday, June 2nd. Finally, BidaskClub raised shares of Raytheon from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $183.01.
In other news, VP Wesley D. Kremer sold 1,010 shares of the stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $163.10, for a total value of $164,731.00. Following the completion of the sale, the vice president now directly owns 23,136 shares of the company’s stock, valued at $3,773,481.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Thomas A. Kennedy sold 10,703 shares of the stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $162.05, for a total value of $1,734,421.15. Following the completion of the sale, the chairman now directly owns 61,671 shares of the company’s stock, valued at $9,993,785.55. The disclosure for this sale can be found here. Insiders sold 15,911 shares of company stock valued at $2,580,752 over the last three months. 0.19% of the stock is owned by company insiders.
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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