Fiera Capital Corp decreased its position in shares of Raytheon Company (NYSE:RTN) by 32.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,692 shares of the aerospace company’s stock after selling 4,572 shares during the period. Fiera Capital Corp’s holdings in Raytheon were worth $1,566,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Stephens Inc. AR boosted its position in Raytheon by 3.3% during the second quarter. Stephens Inc. AR now owns 30,793 shares of the aerospace company’s stock valued at $4,972,000 after purchasing an additional 993 shares during the last quarter. Summit Global Investments boosted its position in Raytheon by 18.3% during the second quarter. Summit Global Investments now owns 3,940 shares of the aerospace company’s stock valued at $636,000 after purchasing an additional 610 shares during the last quarter. AJO LP boosted its position in Raytheon by 7.6% during the second quarter. AJO LP now owns 12,719 shares of the aerospace company’s stock valued at $2,054,000 after purchasing an additional 893 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Raytheon by 9.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 23,007 shares of the aerospace company’s stock valued at $3,714,000 after purchasing an additional 1,990 shares during the last quarter. Finally, Regal Investment Advisors LLC boosted its position in Raytheon by 1.9% during the second quarter. Regal Investment Advisors LLC now owns 1,722 shares of the aerospace company’s stock valued at $278,000 after purchasing an additional 32 shares during the last quarter. 73.74% of the stock is owned by hedge funds and other institutional investors.
RTN has been the topic of several recent research reports. Stifel Nicolaus restated a “buy” rating and set a $185.00 target price (up from $175.00) on shares of Raytheon in a report on Sunday, July 30th. Vetr upgraded Raytheon from a “hold” rating to a “buy” rating and set a $178.87 target price on the stock in a report on Monday, July 17th. Jefferies Group LLC restated a “buy” rating and set a $172.00 target price on shares of Raytheon in a report on Monday, June 26th. BidaskClub upgraded Raytheon from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Finally, Argus restated a “buy” rating and set a $195.00 target price (up from $175.00) on shares of Raytheon in a report on Friday, August 4th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $193.19.
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Raytheon Company (RTN) opened at 187.22 on Thursday. Raytheon Company has a 1-year low of $132.89 and a 1-year high of $188.62. The stock has a 50 day moving average price of $183.49 and a 200-day moving average price of $167.95. The company has a market capitalization of $54.34 billion, a price-to-earnings ratio of 25.86 and a beta of 0.59.
Raytheon (NYSE:RTN) last issued its earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.15. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The business had revenue of $6.28 billion during the quarter, compared to the consensus estimate of $6.24 billion. During the same period last year, the business posted $2.38 EPS. Raytheon’s revenue was up 4.2% on a year-over-year basis. Equities analysts predict that Raytheon Company will post $7.59 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Thursday, October 12th will be paid a $0.7975 dividend. The ex-dividend date is Wednesday, October 11th. This represents a $3.19 annualized dividend and a yield of 1.70%. Raytheon’s dividend payout ratio (DPR) is currently 43.94%.
In other news, Director Robert E. Beauchamp bought 1,162 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Vernon E. Clark sold 829 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $180.19, for a total transaction of $149,377.51. Following the completion of the sale, the director now owns 7,588 shares of the company’s stock, valued at $1,367,281.72. The disclosure for this sale can be found here. Insiders sold a total of 5,770 shares of company stock valued at $1,052,376 over the last quarter. 0.19% of the stock is currently owned by company insiders.
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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