Public Sector Pension investment Board lessened its position in Raytheon Company (NYSE:RTN) by 50.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,132 shares of the aerospace company’s stock after selling 33,600 shares during the period. Public Sector Pension investment Board’s holdings in Raytheon were worth $5,350,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of the business. National Pension Service increased its position in shares of 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 acquiring an additional 26,830 shares in the last quarter. Lockheed Martin Investment Management Co. acquired a new position in Raytheon during the first quarter worth $1,830,000. Abner Herrman & Brock LLC boosted 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 during the last quarter. Kornitzer Capital Management Inc. KS boosted 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 during the last quarter. Finally, Appleton Partners Inc. MA boosted 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 during the last quarter. 73.62% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently commented on RTN. Sanford C. Bernstein restated an “outperform” rating and set a $183.00 target price (up previously from $180.00) on shares of Raytheon in a report on Sunday, July 30th. Stifel Nicolaus restated a “buy” rating and set a $185.00 target price (up previously from $175.00) on shares of Raytheon in a report on Sunday, July 30th. Vetr cut shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 target price for the company. in a report on Tuesday, August 15th. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a report on Wednesday, September 20th. Finally, Cowen and Company restated an “outperform” rating and set a $189.00 target price (up previously from $182.00) on shares of Raytheon in a report on Thursday, August 10th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $193.19.
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In other news, Director Vernon E. Clark sold 829 shares of the stock in a transaction dated 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 of the company’s stock, valued at $1,367,281.72. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Frank R. Jimenez sold 500 shares of the stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $181.94, for a total transaction of $90,970.00. Following the completion of the sale, the vice president now directly owns 29,292 shares in the company, valued at $5,329,386.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,770 shares of company stock worth $1,052,376. Insiders own 0.19% of the company’s stock.
Raytheon Company (NYSE:RTN) opened at 188.65 on Wednesday. Raytheon Company has a 52-week low of $132.89 and a 52-week high of $189.64. The company has a market capitalization of $54.76 billion, a price-to-earnings ratio of 26.06 and a beta of 0.59. The company’s 50-day moving average is $184.25 and its 200-day moving average is $168.60.
Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.15. The business had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.24 billion. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The company’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.38 earnings per share. On average, analysts expect that Raytheon Company will post $7.59 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Thursday, October 12th will be issued 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 of this dividend is Wednesday, October 11th. Raytheon’s payout ratio is 43.94%.
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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