Navellier & Associates Inc raised its holdings in Raytheon (NYSE:RTN) by 3.5% in the second quarter, Holdings Channel reports. The fund owned 13,131 shares of the aerospace company’s stock after acquiring an additional 439 shares during the quarter. Navellier & Associates Inc’s holdings in Raytheon were worth $2,537,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Global X Management Co. LLC raised its position in shares of Raytheon by 13.6% in the first quarter. Global X Management Co. LLC now owns 4,477 shares of the aerospace company’s stock valued at $966,000 after purchasing an additional 535 shares during the period. OLD Dominion Capital Management Inc. raised its position in shares of Raytheon by 11.1% in the first quarter. OLD Dominion Capital Management Inc. now owns 2,828 shares of the aerospace company’s stock valued at $610,000 after purchasing an additional 283 shares during the period. Tradewinds Capital Management LLC raised its position in shares of Raytheon by 160.0% in the first quarter. Tradewinds Capital Management LLC now owns 1,560 shares of the aerospace company’s stock valued at $337,000 after purchasing an additional 960 shares during the period. Wells Fargo & Company MN raised its position in shares of Raytheon by 1.3% in the first quarter. Wells Fargo & Company MN now owns 1,858,598 shares of the aerospace company’s stock valued at $401,123,000 after purchasing an additional 24,543 shares during the period. Finally, Daiwa Securities Group Inc. raised its position in shares of Raytheon by 10.1% in the first quarter. Daiwa Securities Group Inc. now owns 9,819 shares of the aerospace company’s stock valued at $2,119,000 after purchasing an additional 902 shares during the period. Hedge funds and other institutional investors own 72.85% of the company’s stock.

A number of research firms have recently commented on RTN. Zacks Investment Research lowered shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Wednesday, June 27th. ValuEngine lowered shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Friday, June 15th. Stifel Nicolaus dropped their price target on shares of Raytheon from $235.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, July 27th. Morgan Stanley dropped their price target on shares of Raytheon from $239.00 to $228.00 and set an “overweight” rating on the stock in a research report on Thursday, July 12th. Finally, Wolfe Research raised shares of Raytheon from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 8th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $220.59.

Shares of Raytheon opened at $196.35 on Friday, MarketBeat Ratings reports. Raytheon has a 1 year low of $175.26 and a 1 year high of $229.75. The firm has a market cap of $56.34 billion, a P/E ratio of 25.77, a P/E/G ratio of 1.51 and a beta of 0.64. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.51 and a current ratio of 1.61.

Raytheon (NYSE:RTN) last announced its earnings results on Thursday, July 26th. The aerospace company reported $2.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.32 by $0.46. Raytheon had a net margin of 9.24% and a return on equity of 24.01%. The business had revenue of $6.63 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same quarter in the previous year, the firm posted $1.98 earnings per share. Raytheon’s revenue was up 5.5% compared to the same quarter last year. analysts predict that Raytheon will post 9.93 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 2nd. Investors of record on Wednesday, July 11th were given a dividend of $0.8675 per share. This represents a $3.47 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Tuesday, July 10th. Raytheon’s dividend payout ratio (DPR) is currently 45.54%.

In other Raytheon news, Director Stephen J. Hadley sold 1,000 shares of the business’s stock in a transaction on Tuesday, May 15th. The shares were sold at an average price of $209.23, for a total value of $209,230.00. Following the sale, the director now owns 9,524 shares of the company’s stock, valued at approximately $1,992,706.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Michael J. Wood sold 621 shares of the business’s stock in a transaction on Monday, June 4th. The shares were sold at an average price of $212.13, for a total transaction of $131,732.73. Following the completion of the sale, the chief accounting officer now directly owns 14,462 shares in the company, valued at approximately $3,067,824.06. The disclosure for this sale can be found here. Insiders have sold 3,862 shares of company stock worth $816,748 in the last ninety days. 0.19% of the stock is currently owned by insiders.

Raytheon Profile

Raytheon Company develops integrated products, services, and solutions for defense and other government markets worldwide. It operates through five segments: Integrated Defense Systems (IDS); Intelligence, Information and Services (IIS); Missile Systems (MS); Space and Airborne Systems (SAS); and Forcepoint.

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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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