Resource Management LLC Cuts Stock Holdings in Raytheon (NYSE:RTN)

Resource Management LLC reduced its position in shares of Raytheon (NYSE:RTN) by 4.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,939 shares of the aerospace company’s stock after selling 196 shares during the period. Resource Management LLC’s holdings in Raytheon were worth $685,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of RTN. Country Club Trust Company n.a. lifted its stake in Raytheon by 7.4% during the second quarter. Country Club Trust Company n.a. now owns 46,543 shares of the aerospace company’s stock worth $8,093,000 after purchasing an additional 3,216 shares in the last quarter. Clarius Group LLC acquired a new stake in Raytheon in the first quarter valued at about $233,000. Tredje AP fonden lifted its position in Raytheon by 1.0% in the first quarter. Tredje AP fonden now owns 23,343 shares of the aerospace company’s stock valued at $4,250,000 after purchasing an additional 227 shares during the period. Brandywine Oak Private Wealth LLC lifted its position in Raytheon by 44.9% in the first quarter. Brandywine Oak Private Wealth LLC now owns 3,258 shares of the aerospace company’s stock valued at $593,000 after purchasing an additional 1,010 shares during the period. Finally, Baldwin Investment Management LLC lifted its position in Raytheon by 38.3% in the first quarter. Baldwin Investment Management LLC now owns 4,335 shares of the aerospace company’s stock valued at $789,000 after purchasing an additional 1,200 shares during the period. Institutional investors own 74.90% of the company’s stock.

Shares of RTN stock traded up $0.60 during midday trading on Friday, reaching $188.86. 30,269 shares of the company traded hands, compared to its average volume of 1,977,554. The business’s 50 day moving average price is $179.61. Raytheon has a 1-year low of $144.27 and a 1-year high of $210.89. The company has a current ratio of 1.46, a quick ratio of 1.35 and a debt-to-equity ratio of 0.41. The stock has a market cap of $51.84 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.48 and a beta of 0.86.

Raytheon (NYSE:RTN) last posted its quarterly 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 net margin of 10.96% and a return on equity of 26.34%. The company had revenue of $7.16 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same period last year, the firm earned $2.45 EPS. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, equities research analysts expect that Raytheon will post 11.69 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a dividend of $0.9425 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $3.77 dividend on an annualized basis and a dividend yield of 2.00%. Raytheon’s payout ratio is 35.53%.

In other news, VP Wesley D. Kremer sold 8,186 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $185.00, for a total transaction of $1,514,410.00. Following the completion of the transaction, the vice president now directly owns 29,175 shares of the company’s stock, valued at approximately $5,397,375. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Randa G. Newsome sold 10,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 20,396 shares of the company’s stock, valued at $3,773,463.96. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

A number of equities research analysts recently commented on RTN shares. Bank of America restated a “buy” rating and issued a $265.00 price objective (up previously from $224.00) on shares of Raytheon in a research report on Friday, July 26th. Zacks Investment Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, April 29th. Wolfe Research set a $205.00 price objective on shares of Raytheon and gave the company a “buy” rating in a research report on Friday, April 26th. Jefferies Financial Group raised their price objective on shares of Raytheon from $202.00 to $216.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Finally, Buckingham Research downgraded shares of 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 report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price 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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