Macquarie Group Ltd. lowered its stake in Raytheon Company (NYSE:RTN) by 6.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,795,104 shares of the aerospace company’s stock after selling 309,345 shares during the quarter. Raytheon makes up 1.4% of Macquarie Group Ltd.’s investment portfolio, making the stock its 16th largest position. Macquarie Group Ltd. owned about 1.65% of Raytheon worth $774,316,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Mark Sheptoff Financial Planning LLC boosted its position in shares of Raytheon by 0.9% during the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 19,834 shares of the aerospace company’s stock valued at $3,025,000 after acquiring an additional 180 shares during the last quarter. Essex Financial Services Inc. boosted its position in shares of Raytheon by 59.8% during the 1st quarter. Essex Financial Services Inc. now owns 4,282 shares of the aerospace company’s stock valued at $653,000 after acquiring an additional 1,602 shares during the last quarter. HL Financial Services LLC boosted its position in shares of Raytheon by 19.0% during the 1st quarter. HL Financial Services LLC now owns 7,681 shares of the aerospace company’s stock valued at $1,172,000 after acquiring an additional 1,228 shares during the last quarter. Assetmark Inc. boosted its position in shares of Raytheon by 8.0% during the 1st quarter. Assetmark Inc. now owns 1,280 shares of the aerospace company’s stock valued at $195,000 after acquiring an additional 95 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of Raytheon during the 1st quarter valued at about $1,540,000. Institutional investors and hedge funds own 74.15% of the company’s stock.
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In other news, VP Taylor W. Lawrence sold 3,791 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $182.09, for a total transaction of $690,303.19. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Vernon E. Clark sold 829 shares of the company’s 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 transaction, the director now directly owns 7,588 shares in the company, valued at $1,367,281.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,770 shares of company stock worth $1,052,376. Corporate insiders own 0.19% of the company’s stock.
RTN has been the subject of a number of recent research reports. Buckingham Research boosted their target price on Raytheon from $199.00 to $204.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Robert W. Baird restated a “buy” rating and issued a $212.00 target price on shares of Raytheon in a research report on Tuesday, October 24th. Cowen and Company restated a “buy” rating and issued a $203.00 target price on shares of Raytheon in a research report on Thursday, October 26th. BidaskClub upgraded Raytheon from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 12th. Finally, Wells Fargo & Company dropped their target price on Raytheon from $200.00 to $195.00 and set an “outperform” rating for the company in a research report on Friday, October 27th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $199.24.
Raytheon Company (NYSE RTN) traded down $0.13 during trading on Friday, reaching $184.81. The company’s stock had a trading volume of 778,200 shares, compared to its average volume of 1,482,664. The company has a quick ratio of 1.55, a current ratio of 1.66 and a debt-to-equity ratio of 0.44. Raytheon Company has a twelve month low of $137.70 and a twelve month high of $190.25. The company has a market capitalization of $53,463.75, a P/E ratio of 24.46, a price-to-earnings-growth ratio of 2.51 and a beta of 0.57.
Raytheon (NYSE:RTN) last released its earnings results on Thursday, October 26th. The aerospace company reported $1.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.07. Raytheon had a return on equity of 20.98% and a net margin of 8.77%. The business had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.33 billion. During the same period in the previous year, the company posted $1.79 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. equities analysts expect that Raytheon Company will post 7.61 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Thursday, October 12th were issued a $0.7975 dividend. This represents a $3.19 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Wednesday, October 11th. Raytheon’s dividend payout ratio (DPR) is 42.88%.
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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