UMB Bank N A MO Sells 3,068 Shares of Raytheon (NYSE:RTN)

UMB Bank N A MO decreased its holdings in Raytheon (NYSE:RTN) by 2.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 103,540 shares of the aerospace company’s stock after selling 3,068 shares during the quarter. UMB Bank N A MO’s holdings in Raytheon were worth $18,003,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. HNP Capital LLC boosted its position in Raytheon by 0.6% during the first quarter. HNP Capital LLC now owns 9,030 shares of the aerospace company’s stock valued at $1,644,000 after acquiring an additional 57 shares during the last quarter. Weatherly Asset Management L. P. boosted its position in Raytheon by 0.4% during the first quarter. Weatherly Asset Management L. P. now owns 14,960 shares of the aerospace company’s stock valued at $2,724,000 after acquiring an additional 63 shares during the last quarter. Altfest L J & Co. Inc. boosted its position in Raytheon by 0.8% during the second quarter. Altfest L J & Co. Inc. now owns 7,933 shares of the aerospace company’s stock valued at $1,379,000 after acquiring an additional 64 shares during the last quarter. Lodestar Investment Counsel LLC IL boosted its position in Raytheon by 3.1% during the first quarter. Lodestar Investment Counsel LLC IL now owns 2,148 shares of the aerospace company’s stock valued at $391,000 after acquiring an additional 65 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC boosted its position in Raytheon by 16.9% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 457 shares of the aerospace company’s stock valued at $83,000 after acquiring an additional 66 shares during the last quarter. 74.90% of the stock is currently owned by institutional investors.

Shares of NYSE RTN traded down $1.41 during trading on Friday, hitting $186.85. 987,259 shares of the company traded hands, compared to its average volume of 1,954,078. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.46 and a quick ratio of 1.35. Raytheon has a fifty-two week low of $144.27 and a fifty-two week high of $210.89. The firm has a market cap of $52.44 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 1.51 and a beta of 0.86. The firm has a fifty day moving average of $179.79.

Raytheon (NYSE:RTN) last posted its earnings results on Thursday, July 25th. The aerospace company reported $2.92 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $7.02 billion. During the same quarter in the prior year, the business posted $2.45 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. Analysts expect that Raytheon will post 11.69 EPS 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 issued a $0.9425 dividend. 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 2.02%. Raytheon’s dividend payout ratio is presently 35.53%.

In related news, VP Wesley D. Kremer sold 8,186 shares of the company’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 sale, the vice president now owns 29,175 shares in the company, valued at approximately $5,397,375. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Randa G. Newsome sold 10,000 shares of the company’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 in the company, valued at approximately $3,773,463.96. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

A number of analysts have commented on RTN shares. ValuEngine cut shares of Raytheon from a “hold” rating to a “sell” rating in a research report on Friday, June 28th. Wolfe Research set a $205.00 price objective on shares of Raytheon and gave the company a “buy” rating in a report on Friday, April 26th. Buckingham Research lowered shares of Raytheon from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $265.00 to $195.00 in a report on Monday, June 24th. Bank of America reiterated a “buy” rating and set a $265.00 price objective (up previously from $224.00) on shares of Raytheon in a report on Friday, July 26th. Finally, Zacks Investment Research lowered shares of Raytheon from a “buy” rating to a “hold” rating in a report on Monday, April 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. The company presently 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.

Featured Story: The limitations of an equal weight rating

Want to see what other hedge funds are holding RTN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raytheon (NYSE:RTN).

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

Receive News & Ratings for Raytheon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon and related companies with MarketBeat.com's FREE daily email newsletter.