CWA Asset Management Group LLC increased its position in shares of Raytheon Company (NYSE:RTN) by 10.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,149 shares of the aerospace company’s stock after purchasing an additional 2,350 shares during the period. Raytheon accounts for 1.3% of CWA Asset Management Group LLC’s portfolio, making the stock its 17th largest holding. CWA Asset Management Group LLC’s holdings in Raytheon were worth $4,061,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in RTN. Affinity Investment Advisors LLC raised its position in shares of Raytheon by 1.2% during the 1st quarter. Affinity Investment Advisors LLC now owns 14,704 shares of the aerospace company’s stock valued at $2,242,000 after purchasing an additional 178 shares during the period. Intrust Bank NA raised its position in shares of Raytheon by 0.5% during the 1st quarter. Intrust Bank NA now owns 6,365 shares of the aerospace company’s stock valued at $971,000 after purchasing an additional 29 shares during the period. Ropes Wealth Advisors LLC raised its position in shares of Raytheon by 3.0% during the 1st quarter. Ropes Wealth Advisors LLC now owns 40,774 shares of the aerospace company’s stock valued at $6,218,000 after purchasing an additional 1,188 shares during the period. Main Street Research LLC raised its position in shares of Raytheon by 4.2% during the 1st quarter. Main Street Research LLC now owns 1,521 shares of the aerospace company’s stock valued at $232,000 after purchasing an additional 62 shares during the period. Finally, Birmingham Capital Management Co. Inc. AL raised its position in shares of Raytheon by 3.3% during the 1st quarter. Birmingham Capital Management Co. Inc. AL now owns 18,850 shares of the aerospace company’s stock valued at $2,875,000 after purchasing an additional 600 shares during the period. Hedge funds and other institutional investors own 73.74% of the company’s stock.

Raytheon Company (RTN) opened at 188.91 on Friday. The firm has a 50 day moving average of $183.79 and a 200-day moving average of $168.10. Raytheon Company has a 52 week low of $132.89 and a 52 week high of $189.39. The stock has a market capitalization of $54.83 billion, a PE ratio of 26.09 and a beta of 0.59.

Raytheon (NYSE:RTN) last issued its earnings results on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.15. The business had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.24 billion. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.38 earnings per share. On average, equities analysts predict that Raytheon Company will post $7.59 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Thursday, October 12th will be given a $0.7975 dividend. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Wednesday, October 11th. Raytheon’s dividend payout ratio (DPR) is 43.94%.

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In other Raytheon news, Director Robert E. Beauchamp bought 1,162 shares of Raytheon stock in a transaction dated Monday, July 31st. The stock was acquired at an average cost of $171.99 per share, for a total transaction of $199,852.38. Following the completion of the transaction, the director now directly owns 4,303 shares of the company’s stock, valued at $740,072.97. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Frank R. Jimenez sold 650 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $187.27, for a total transaction of $121,725.50. The disclosure for this sale can be found here. Insiders sold 5,770 shares of company stock valued at $1,052,376 over the last quarter. Company insiders own 0.19% of the company’s stock.

Several brokerages have recently commented on RTN. Royal Bank Of Canada restated a “buy” rating and set a $209.00 price objective on shares of Raytheon in a research report on Tuesday. Citigroup Inc. restated a “buy” rating and set a $215.00 price objective (up from $192.00) on shares of Raytheon in a research report on Monday. ValuEngine downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Jefferies Group LLC restated a “buy” rating and set a $190.00 price objective on shares of Raytheon in a research report on Friday, September 29th. Finally, Deutsche Bank AG upgraded shares of Raytheon from a “hold” rating to a “buy” rating and raised their price objective for the company from $180.00 to $210.00 in a research report on Friday, September 29th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $193.19.

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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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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