Schwerin Boyle Capital Management Inc. Has $320,000 Position in Raytheon Company (RTN)

Schwerin Boyle Capital Management Inc. held its stake in Raytheon Company (NYSE:RTN) during the first quarter, according to its most recent filing with the SEC. The fund owned 2,100 shares of the aerospace company’s stock at the end of the first quarter. Schwerin Boyle Capital Management Inc.’s holdings in Raytheon were worth $320,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Morgan Stanley increased its stake 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 during the last quarter. Lazard Asset Management LLC increased its stake in Raytheon by 31.7% in the first quarter. Lazard Asset Management LLC now owns 491,721 shares of the aerospace company’s stock valued at $74,986,000 after buying an additional 118,262 shares during the last quarter. River Wealth Advisors LLC increased its stake in Raytheon by 6.5% in the first quarter. River Wealth Advisors LLC now owns 2,473 shares of the aerospace company’s stock valued at $377,000 after buying an additional 150 shares during the last quarter. Aureus Asset Management LLC increased its stake in Raytheon by 1.4% in the first quarter. Aureus Asset Management LLC now owns 5,997 shares of the aerospace company’s stock valued at $953,000 after buying an additional 81 shares during the last quarter. Finally, Regal Investment Advisors LLC purchased a new stake in Raytheon during the first quarter valued at $258,000. 74.72% of the stock is owned by institutional investors and hedge funds.

Raytheon Company (NYSE:RTN) traded down 0.20% during midday trading on Friday, reaching $176.90. The company’s stock had a trading volume of 1,096,760 shares. Raytheon Company has a 1-year low of $132.89 and a 1-year high of $181.05. The company’s 50-day moving average price is $170.94 and its 200-day moving average price is $159.65. The company has a market capitalization of $51.34 billion, a price-to-earnings ratio of 24.43 and a beta of 0.59.

Raytheon (NYSE:RTN) last announced its quarterly earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, topping 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 company had revenue of $6.28 billion during the quarter, compared to analyst estimates of $6.24 billion. During the same quarter in the previous year, the firm posted $2.38 EPS. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. On average, analysts predict that Raytheon Company will post $7.59 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Shareholders of record on Wednesday, July 5th were given a dividend of $0.7975 per share. The ex-dividend date was Friday, June 30th. This represents a $3.19 dividend on an annualized basis and a yield of 1.80%. Raytheon’s dividend payout ratio (DPR) is presently 43.94%.

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Several equities research analysts have recently weighed in on the company. Vetr downgraded Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price objective for the company. in a report on Tuesday. BidaskClub raised Raytheon from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 12th. Buckingham Research increased their price objective on Raytheon from $190.00 to $199.00 and gave the company a “buy” rating in a report on Friday, August 11th. Cowen and Company reissued an “outperform” rating and issued a $189.00 price objective (up from $182.00) on shares of Raytheon in a report on Thursday, August 10th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $212.00 price target (up from $170.00) on shares of Raytheon in a report on Thursday, August 10th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Raytheon has an average rating of “Buy” and a consensus price target of $183.01.

In other news, Director Vernon E. Clark sold 829 shares of the company’s stock in a transaction on Monday, August 14th. The stock was 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Wesley D. Kremer sold 1,010 shares of the company’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $163.10, for a total value of $164,731.00. Following the completion of the sale, the vice president now owns 23,136 shares of the company’s stock, valued at approximately $3,773,481.60. The disclosure for this sale can be found here. Insiders have sold a total of 16,740 shares of company stock valued at $2,730,129 in the last quarter. 0.19% of the stock is currently owned by 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.

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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