Twin Capital Management Inc. Reduces Stock Position in Raytheon (NYSE:RTN)

Twin Capital Management Inc. lessened its stake in shares of Raytheon (NYSE:RTN) by 7.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,690 shares of the aerospace company’s stock after selling 2,430 shares during the quarter. Twin Capital Management Inc.’s holdings in Raytheon were worth $5,510,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. LSV Asset Management grew its holdings in Raytheon by 829.0% in the 1st quarter. LSV Asset Management now owns 2,129,350 shares of the aerospace company’s stock valued at $387,712,000 after buying an additional 1,900,150 shares during the period. Thoroughbred Financial Services LLC grew its holdings in Raytheon by 17,408.1% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,107,038 shares of the aerospace company’s stock valued at $110,704,000 after buying an additional 1,100,715 shares during the period. BlackRock Inc. grew its holdings in Raytheon by 2.3% in the 1st quarter. BlackRock Inc. now owns 23,365,818 shares of the aerospace company’s stock valued at $4,254,449,000 after buying an additional 527,708 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Raytheon in the 1st quarter valued at about $81,538,000. Finally, Artisan Partners Limited Partnership purchased a new stake in Raytheon in the 1st quarter valued at about $62,635,000. Hedge funds and other institutional investors own 74.71% of the company’s stock.

Shares of RTN traded up $0.10 during trading on Thursday, reaching $178.56. The company’s stock had a trading volume of 47,999 shares, compared to its average volume of 1,920,966. The business’s fifty day moving average price is $179.97. Raytheon has a twelve month low of $144.27 and a twelve month high of $210.89. The company has a market cap of $49.44 billion, a P/E ratio of 16.78, a price-to-earnings-growth ratio of 1.47 and a beta of 0.86. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.35 and a current ratio of 1.46.

Raytheon (NYSE:RTN) last announced its earnings results on Thursday, July 25th. The aerospace company reported $2.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.61 by $0.31. Raytheon had a return on equity of 26.34% and a net margin of 10.96%. The company had revenue of $7.16 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same period in the prior year, the company posted $2.45 EPS. Raytheon’s quarterly revenue was up 8.1% on a year-over-year basis. On average, analysts anticipate that Raytheon will post 11.71 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a $0.9425 dividend. This represents a $3.77 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date was Tuesday, July 9th. Raytheon’s payout ratio is 35.53%.

In related news, VP Randa G. Newsome sold 10,000 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $185.01, for a total transaction of $1,850,100.00. Following the completion of the transaction, the vice president now directly owns 20,396 shares in the company, valued at approximately $3,773,463.96. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Wesley D. Kremer sold 8,186 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $185.00, for a total value of $1,514,410.00. Following the transaction, the vice president now owns 29,175 shares of the company’s stock, valued at $5,397,375. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

RTN has been the subject of several recent analyst reports. Zacks Investment Research cut Raytheon from a “buy” rating to a “hold” rating in a report on Monday, April 29th. Buckingham Research lowered Raytheon from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $265.00 to $195.00 in a research note on Monday, June 24th. Bank of America reaffirmed a “buy” rating and issued a $265.00 price objective (up from $224.00) on shares of Raytheon in a research note on Friday, July 26th. Wolfe Research set a $205.00 price target on Raytheon and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, ValuEngine lowered Raytheon from a “hold” rating to a “sell” rating in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. Raytheon has an average rating of “Buy” and an average price target of $209.80.

Raytheon Company Profile

Raytheon Company develops integrated products, services, and solutions for the defense and other government markets worldwide. It operates through five segments: Integrated Defense Systems (IDS); Intelligence, Information and Services (IIS); Missile Systems (MS); Space and Airborne Systems (SAS); and Forcepoint.

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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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