Hartford Investment Management Co. Has $10.47 Million Stake in Raytheon Company (RTN)

Hartford Investment Management Co. lowered its stake in Raytheon Company (NYSE:RTN) by 3.5% during the second quarter, Holdings Channel reports. The firm owned 64,857 shares of the aerospace company’s stock after selling 2,387 shares during the period. Hartford Investment Management Co.’s holdings in Raytheon were worth $10,473,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Raytheon by 4.7% in the first quarter. Vanguard Group Inc. now owns 21,910,520 shares of the aerospace company’s stock valued at $3,341,355,000 after buying an additional 989,986 shares in the last quarter. BlackRock Inc. increased its position in Raytheon by 2,166.0% in the first quarter. BlackRock Inc. now owns 19,407,819 shares of the aerospace company’s stock valued at $2,959,694,000 after buying an additional 18,551,353 shares in the last quarter. State Street Corp increased its position in Raytheon by 2.6% in the first quarter. State Street Corp now owns 12,585,731 shares of the aerospace company’s stock valued at $1,919,348,000 after buying an additional 313,435 shares in the last quarter. Morgan Stanley increased its position in Raytheon by 7.2% in the first quarter. Morgan Stanley now owns 4,491,454 shares of the aerospace company’s stock valued at $684,945,000 after buying an additional 302,274 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in Raytheon by 0.7% in the first quarter. Clearbridge Investments LLC now owns 3,527,842 shares of the aerospace company’s stock valued at $537,996,000 after buying an additional 23,172 shares in the last quarter. 74.72% of the stock is currently owned by hedge funds and other institutional investors.

Raytheon Company (NYSE RTN) traded down 0.06% during trading on Friday, hitting $177.15. 573,705 shares of the company traded hands. The company has a market capitalization of $51.42 billion, a P/E ratio of 24.47 and a beta of 0.59. The stock has a 50 day moving average price of $170.47 and a 200 day moving average price of $159.43. Raytheon Company has a 12-month low of $132.89 and a 12-month high of $181.05.

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

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Wednesday, July 5th were paid a $0.7975 dividend. This represents a $3.19 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Friday, June 30th. Raytheon’s dividend payout ratio is currently 43.94%.

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Several equities analysts have commented on the stock. Jefferies Group LLC reiterated a “buy” rating and issued a $172.00 price objective on shares of Raytheon in a report on Tuesday, May 23rd. Zacks Investment Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a report on Monday, May 29th. Stifel Nicolaus reiterated a “buy” rating and issued a $185.00 price objective (up from $175.00) on shares of Raytheon in a report on Sunday, July 30th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $183.00 price objective (up from $180.00) on shares of Raytheon in a report on Sunday, July 30th. Finally, Vetr downgraded shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price objective on the stock. in a report on Tuesday. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $183.01.

In other news, Director Robert E. Beauchamp acquired 1,162 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were acquired at an average cost of $171.99 per share, for a total transaction of $199,852.38. Following the purchase, the director now owns 4,303 shares of the company’s stock, valued at approximately $740,072.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Vernon E. Clark sold 829 shares of the business’s 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 completion of the sale, the director now owns 7,588 shares in the company, valued at $1,367,281.72. The disclosure for this sale can be found here. Insiders sold a total of 16,740 shares of company stock worth $2,730,129 over the last 90 days. 0.19% of the stock is currently owned by company insiders.

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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