Barometer Capital Management Inc. Sells 48,600 Shares of Raytheon Company (NYSE:RTN)

Barometer Capital Management Inc. lowered its stake in shares of Raytheon Company (NYSE:RTN) by 21.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 178,210 shares of the aerospace company’s stock after selling 48,600 shares during the period. Raytheon comprises approximately 2.9% of Barometer Capital Management Inc.’s holdings, making the stock its 3rd largest position. Barometer Capital Management Inc. owned 0.06% of Raytheon worth $28,777,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of 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 during the last quarter. BlackRock Inc. increased its position in shares of 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 during the last quarter. State Street Corp increased its position in shares of 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 during the last quarter. Morgan Stanley increased its position in shares of 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 during the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of 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 during the last quarter. Institutional investors and hedge funds own 74.72% of the company’s stock.

Raytheon Company (RTN) traded down 0.20% during midday trading on Friday, hitting $176.90. The stock had a trading volume of 1,096,760 shares. Raytheon Company has a 12 month low of $132.89 and a 12 month high of $181.05. The stock has a market cap of $51.34 billion, a price-to-earnings ratio of 24.43 and a beta of 0.59. The stock has a 50 day moving average of $170.94 and a 200 day moving average of $159.65.

Raytheon (NYSE:RTN) last posted its earnings results 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. The firm had revenue of $6.28 billion during the quarter, compared to analysts’ expectations 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 previous year, the company earned $2.38 earnings per share. Analysts expect that Raytheon Company will post $7.59 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 3rd. Shareholders 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 (DPR) is presently 43.94%.

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A number of equities research analysts recently commented on RTN shares. Robert W. Baird reiterated an “outperform” rating and issued a $212.00 target price (up from $170.00) on shares of Raytheon in a research report on Thursday, August 10th. Vetr upgraded Raytheon from a “hold” rating to a “buy” rating and set a $178.87 target price on the stock in a research report on Monday, July 17th. Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $175.00 target price on the stock in a research report on Monday, May 1st. BidaskClub cut Raytheon from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Buckingham Research boosted their price objective on Raytheon from $190.00 to $199.00 and gave the stock a “buy” rating in a research note on Friday, August 11th. Four 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. Raytheon has an average rating of “Buy” and a consensus target price of $183.01.

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

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.

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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