Narwhal Capital Management Sells 7,815 Shares of Raytheon (NYSE:RTN)

Narwhal Capital Management lessened its position in Raytheon (NYSE:RTN) by 17.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,242 shares of the aerospace company’s stock after selling 7,815 shares during the quarter. Raytheon accounts for approximately 1.3% of Narwhal Capital Management’s portfolio, making the stock its 22nd largest holding. Narwhal Capital Management’s holdings in Raytheon were worth $6,476,000 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. Country Club Trust Company n.a. grew its stake in shares of 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 valued at $8,093,000 after buying an additional 3,216 shares during the last quarter. Clarius Group LLC bought a new position in shares of Raytheon during the first quarter valued at about $233,000. Tredje AP fonden grew its stake in shares of Raytheon by 1.0% during the first quarter. Tredje AP fonden now owns 23,343 shares of the aerospace company’s stock valued at $4,250,000 after buying an additional 227 shares during the last quarter. Brandywine Oak Private Wealth LLC grew its stake in shares of Raytheon by 44.9% during the first quarter. Brandywine Oak Private Wealth LLC now owns 3,258 shares of the aerospace company’s stock valued at $593,000 after buying an additional 1,010 shares during the last quarter. Finally, Baldwin Investment Management LLC grew its stake in shares of Raytheon by 38.3% during the first quarter. Baldwin Investment Management LLC now owns 4,335 shares of the aerospace company’s stock valued at $789,000 after buying an additional 1,200 shares during the last quarter. 74.90% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE RTN traded down $1.41 during trading hours on Friday, hitting $186.85. The company’s stock had a trading volume of 987,259 shares, compared to its average volume of 1,954,078. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.35 and a current ratio of 1.46. The stock has a market capitalization of $52.44 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 1.51 and a beta of 0.86. Raytheon has a 12 month low of $144.27 and a 12 month high of $210.89. The stock has a 50-day moving average price of $179.79.

Raytheon (NYSE:RTN) last posted its earnings results on Thursday, July 25th. The aerospace company reported $2.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.61 by $0.31. The company had revenue of $7.16 billion for the quarter, compared to analysts’ expectations of $7.02 billion. Raytheon had a return on equity of 26.34% and a net margin of 10.96%. Raytheon’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period last year, the firm earned $2.45 earnings per share. On average, equities research analysts anticipate that Raytheon will post 11.69 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a $0.9425 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $3.77 annualized dividend and a dividend yield of 2.02%. Raytheon’s payout ratio is presently 35.53%.

In other Raytheon news, VP Wesley D. Kremer sold 8,186 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $185.00, for a total value of $1,514,410.00. Following the completion of the sale, the vice president now directly owns 29,175 shares in the company, valued at $5,397,375. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Randa G. Newsome sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, the vice president now 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 owned by company insiders.

A number of research analysts have recently issued reports on the company. ValuEngine cut Raytheon from a “hold” rating to a “sell” rating in a research note on Friday, June 28th. Buckingham Research cut 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. Jefferies Financial Group raised their price objective on Raytheon from $202.00 to $216.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Bank of America reaffirmed a “buy” rating and set a $265.00 price objective (up from $224.00) on shares of Raytheon in a research note on Friday, July 26th. Finally, Vertical Research cut Raytheon from a “buy” rating to a “hold” rating and reduced their price objective for the company from $216.00 to $203.00 in a research note on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus 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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