Sumitomo Mitsui Asset Management Company LTD reduced its position in Raytheon Company (NYSE:RTN) by 8.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,156 shares of the aerospace company’s stock after selling 2,808 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Raytheon were worth $4,869,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of RTN. Financial Architects Inc raised its position in Raytheon by 0.5% in the first quarter. Financial Architects Inc now owns 1,305 shares of the aerospace company’s stock worth $199,000 after buying an additional 7 shares during the last quarter. Guardian Life Insurance Co. of America raised its position in Raytheon by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,132 shares of the aerospace company’s stock worth $173,000 after buying an additional 7 shares during the last quarter. HM Capital Management LLC raised its position in Raytheon by 0.5% in the first quarter. HM Capital Management LLC now owns 2,015 shares of the aerospace company’s stock worth $307,000 after buying an additional 10 shares during the last quarter. Founders Capital Management LLC raised its position in Raytheon by 0.5% in the first quarter. Founders Capital Management LLC now owns 2,327 shares of the aerospace company’s stock worth $355,000 after buying an additional 12 shares during the last quarter. Finally, Park National Corp OH raised its position in Raytheon by 1.0% in the second quarter. Park National Corp OH now owns 1,769 shares of the aerospace company’s stock worth $286,000 after buying an additional 18 shares during the last quarter. Institutional investors and hedge funds own 74.72% of the company’s stock.

Shares of Raytheon Company (NYSE:RTN) opened at 176.90 on Monday. The firm’s 50-day moving average price is $170.94 and its 200-day moving average price is $159.65. Raytheon Company has a 12-month low of $132.89 and a 12-month high of $181.05. The firm has a market capitalization of $51.34 billion, a P/E ratio of 24.43 and a beta of 0.59.

Raytheon (NYSE:RTN) last announced its earnings results on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.15. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The company had revenue of $6.28 billion for the quarter, compared to analysts’ expectations of $6.24 billion. During the same period last year, the firm earned $2.38 earnings per share. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities analysts predict that Raytheon Company will post $7.59 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 3rd. Stockholders of record on Wednesday, July 5th were issued a dividend of $0.7975 per share. The ex-dividend date was Friday, June 30th. This represents a $3.19 annualized dividend and a dividend yield of 1.80%. Raytheon’s dividend payout ratio is presently 43.94%.

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Several equities analysts recently issued reports on the company. Jefferies Group LLC restated a “buy” rating and set a $172.00 price target on shares of Raytheon in a research note on Tuesday, May 23rd. Zacks Investment Research lowered Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, May 29th. Stifel Nicolaus restated a “buy” rating and set a $185.00 price target (up from $175.00) on shares of Raytheon in a research note on Sunday, July 30th. 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 note 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 note on Tuesday, August 15th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $183.01.

In other news, VP Taylor W. Lawrence sold 2,756 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $162.04, for a total transaction of $446,582.24. Following the transaction, the vice president now directly owns 53,285 shares of the company’s stock, valued at $8,634,301.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Wesley D. Kremer sold 1,010 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $163.10, for a total transaction of $164,731.00. Following the transaction, the vice president now directly owns 23,136 shares in the company, valued at $3,773,481.60. The disclosure for this sale can be found here. Insiders have sold 16,740 shares of company stock worth $2,730,129 over the last ninety days. Insiders own 0.19% of the company’s stock.

About Raytheon

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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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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