Game Creek Capital LP Invests $2.78 Million in Raytheon (NYSE:RTN)

Game Creek Capital LP acquired a new position in shares of Raytheon (NYSE:RTN) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 16,000 shares of the aerospace company’s stock, valued at approximately $2,782,000. Raytheon makes up about 1.6% of Game Creek Capital LP’s portfolio, making the stock its 27th largest position.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. 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 purchasing an additional 57 shares in the last quarter. Wright Investors Service Inc. boosted its holdings in Raytheon by 0.7% in the second quarter. Wright Investors Service Inc. now owns 8,826 shares of the aerospace company’s stock worth $1,534,000 after acquiring an additional 57 shares in the last quarter. Weatherly Asset Management L. P. boosted its holdings in Raytheon by 0.4% in the first quarter. Weatherly Asset Management L. P. now owns 14,960 shares of the aerospace company’s stock worth $2,724,000 after acquiring an additional 63 shares in the last quarter. Altfest L J & Co. Inc. boosted its holdings in Raytheon by 0.8% in the second quarter. Altfest L J & Co. Inc. now owns 7,933 shares of the aerospace company’s stock worth $1,379,000 after acquiring an additional 64 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in Raytheon by 3.3% in the second quarter. Sequoia Financial Advisors LLC now owns 1,991 shares of the aerospace company’s stock worth $346,000 after acquiring an additional 64 shares in the last quarter. 72.21% of the stock is currently owned by institutional investors and hedge funds.

RTN stock traded up $4.80 during trading on Tuesday, hitting $183.99. 1,310,790 shares of the company traded hands, compared to its average volume of 1,767,758. The stock’s 50-day simple moving average is $180.25 and its 200 day simple moving average is $180.09. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.46 and a quick ratio of 1.35. The company has a market cap of $49.63 billion, a PE ratio of 17.34, a P/E/G ratio of 1.42 and a beta of 0.86. Raytheon has a 1 year low of $144.27 and a 1 year high of $210.89.

Raytheon (NYSE:RTN) last announced its quarterly earnings results on Thursday, July 25th. The aerospace company reported $2.92 earnings per share for the quarter, beating the consensus estimate of $2.61 by $0.31. The company had revenue of $7.16 billion during 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 business earned $2.45 earnings per share. Research analysts expect that Raytheon will post 11.73 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a $0.9425 dividend. This represents a $3.77 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend was Tuesday, July 9th. Raytheon’s payout ratio is currently 35.53%.

In other Raytheon news, 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 value of $1,850,100.00. Following the sale, the vice president now directly owns 20,396 shares of the company’s stock, valued at $3,773,463.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 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 disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Several brokerages have recently issued reports on RTN. Stifel Nicolaus raised their price objective on Raytheon from $205.00 to $218.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Bank of America restated 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. Zacks Investment Research cut Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, April 29th. Jefferies Financial Group raised their price objective on Raytheon from $202.00 to $216.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Finally, Buckingham Research cut Raytheon from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $265.00 to $195.00 in a research note on Monday, June 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $209.80.

Raytheon 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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