Laurion Capital Management LP decreased its position in shares of Raytheon Company (NYSE:RTN) by 32.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,200 shares of the aerospace company’s stock after selling 23,600 shares during the period. Laurion Capital Management LP’s holdings in Raytheon were worth $7,783,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. National Pension Service raised its holdings in Raytheon by 12.1% during the second quarter. National Pension Service now owns 248,655 shares of the aerospace company’s stock worth $39,892,000 after purchasing an additional 26,830 shares in the last quarter. Lockheed Martin Investment Management Co. bought a new stake in Raytheon during the first quarter worth approximately $1,830,000. Abner Herrman & Brock LLC raised its holdings in Raytheon by 8.2% during the second quarter. Abner Herrman & Brock LLC now owns 77,617 shares of the aerospace company’s stock worth $12,534,000 after purchasing an additional 5,866 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its holdings in Raytheon by 13.9% during the second quarter. Kornitzer Capital Management Inc. KS now owns 6,720 shares of the aerospace company’s stock worth $1,085,000 after purchasing an additional 820 shares in the last quarter. Finally, Appleton Partners Inc. MA raised its holdings in Raytheon by 13.7% during the second quarter. Appleton Partners Inc. MA now owns 8,345 shares of the aerospace company’s stock worth $1,348,000 after purchasing an additional 1,005 shares in the last quarter. 73.62% of the stock is currently owned by hedge funds and other institutional investors.
Raytheon Company (NYSE RTN) opened at 187.89 on Monday. The stock has a market capitalization of $54.53 billion, a PE ratio of 25.95 and a beta of 0.59. The firm’s 50-day moving average is $184.25 and its 200 day moving average is $168.60. Raytheon Company has a 52-week low of $132.89 and a 52-week high of $189.64.
Raytheon (NYSE:RTN) last posted its earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.15. The company had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.24 billion. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the business posted $2.38 earnings per share. On average, equities analysts forecast that Raytheon Company will post $7.59 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Thursday, October 12th will be issued a $0.7975 dividend. The ex-dividend date of this dividend is Wednesday, October 11th. This represents a $3.19 annualized dividend and a yield of 1.70%. Raytheon’s dividend payout ratio (DPR) is presently 43.94%.
In other Raytheon news, Director Vernon E. Clark sold 829 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $180.19, for a total value of $149,377.51. Following the sale, the director now directly owns 7,588 shares in the company, valued at $1,367,281.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Frank R. Jimenez sold 650 shares of the stock in a transaction on Monday, October 2nd. The stock was 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. Over the last quarter, insiders sold 5,770 shares of company stock worth $1,052,376. Company insiders own 0.19% of the company’s stock.
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RTN has been the topic of several recent analyst reports. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $204.00 target price on the stock in a report on Thursday, September 14th. ValuEngine raised Raytheon from a “hold” rating to a “buy” rating in a report on Monday, September 11th. Royal Bank Of Canada set a $193.00 target price on Raytheon and gave the stock a “buy” rating in a report on Monday, August 28th. Vetr cut Raytheon from a “buy” rating to a “hold” rating and set a $187.08 target price on the stock. in a report on Wednesday, August 30th. Finally, BidaskClub raised Raytheon from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average 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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