WINTON GROUP Ltd boosted its holdings in Raytheon Company (NYSE:RTN) by 29.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 347,549 shares of the aerospace company’s stock after buying an additional 78,218 shares during the quarter. Raytheon makes up approximately 1.6% of WINTON GROUP Ltd’s investment portfolio, making the stock its 9th largest position. WINTON GROUP Ltd owned 0.12% of Raytheon worth $56,122,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of RTN. St. Johns Investment Management Company LLC bought a new position in Raytheon in the 2nd quarter valued at approximately $113,000. Jacobi Capital Management LLC raised its holdings in Raytheon by 271.1% in the 1st quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock valued at $114,000 after buying an additional 553 shares during the last quarter. Tarbox Family Office Inc. raised its holdings in Raytheon by 1,666.7% in the 2nd quarter. Tarbox Family Office Inc. now owns 795 shares of the aerospace company’s stock valued at $128,000 after buying an additional 750 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new position in Raytheon in the 2nd quarter valued at approximately $139,000. Finally, CWM LLC raised its holdings in Raytheon by 7.4% in the 2nd quarter. CWM LLC now owns 916 shares of the aerospace company’s stock valued at $148,000 after buying an additional 63 shares during the last quarter. Institutional investors and hedge funds own 73.80% of the company’s stock.
In related news, Director Vernon E. Clark sold 829 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $180.19, for a total transaction of $149,377.51. Following the completion of the transaction, the director now owns 7,588 shares in the company, valued at $1,367,281.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Frank R. Jimenez sold 650 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $187.27, for a total value of $121,725.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,770 shares of company stock valued at $1,052,376. 0.19% of the stock is owned by corporate insiders.
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Raytheon (NYSE:RTN) last announced its earnings results on Thursday, October 26th. The aerospace company reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.07. The company had revenue of $6.28 billion during the quarter, compared to the consensus estimate of $6.33 billion. Raytheon had a return on equity of 20.98% and a net margin of 8.77%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.79 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Thursday, October 12th will be issued a dividend of $0.7975 per share. The ex-dividend date is Wednesday, October 11th. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.77%. Raytheon’s dividend payout ratio is presently 42.88%.
RTN has been the subject of a number of research reports. Robert W. Baird reiterated a “buy” rating and issued a $212.00 price objective on shares of Raytheon in a report on Tuesday, October 24th. Cowen and Company restated a “buy” rating and set a $203.00 price target on shares of Raytheon in a report on Thursday, October 26th. BidaskClub upgraded shares of Raytheon from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 12th. Buckingham Research raised their price target on shares of Raytheon from $190.00 to $199.00 and gave the stock a “buy” rating in a report on Friday, August 11th. Finally, Citigroup Inc. restated a “buy” rating and set a $215.00 price target (up previously from $192.00) on shares of Raytheon in a report on Monday, October 9th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $199.24.
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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