Anderson Hoagland & Co. Cuts Position in Raytheon (NYSE:RTN)

Anderson Hoagland & Co. trimmed its position in Raytheon (NYSE:RTN) by 5.4% during the third quarter, HoldingsChannel.com reports. The firm owned 9,430 shares of the aerospace company’s stock after selling 543 shares during the quarter. Raytheon comprises 1.1% of Anderson Hoagland & Co.’s investment portfolio, making the stock its 25th biggest position. Anderson Hoagland & Co.’s holdings in Raytheon were worth $1,748,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC raised its holdings in shares of Raytheon by 95.3% during the 3rd quarter. Sound Income Strategies LLC now owns 166 shares of the aerospace company’s stock valued at $33,000 after buying an additional 81 shares during the period. Weaver Consulting Group purchased a new stake in shares of Raytheon during the 1st quarter valued at about $36,000. Berman Capital Advisors LLC raised its holdings in shares of Raytheon by 74.6% during the 2nd quarter. Berman Capital Advisors LLC now owns 220 shares of the aerospace company’s stock valued at $38,000 after buying an additional 94 shares during the period. Meridian Wealth Management LLC purchased a new stake in shares of Raytheon during the 1st quarter valued at about $46,000. Finally, Boston Partners purchased a new stake in shares of Raytheon during the 2nd quarter valued at about $46,000. Institutional investors own 72.96% of the company’s stock.

In other Raytheon news, VP Frank R. Jimenez sold 1,054 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $180.00, for a total transaction of $189,720.00. Following the completion of the sale, the vice president now owns 25,863 shares in the company, valued at approximately $4,655,340. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Wesley D. Kremer sold 2,915 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $200.00, for a total value of $583,000.00. Following the sale, the vice president now owns 26,260 shares of the company’s stock, valued at approximately $5,252,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,469 shares of company stock valued at $3,114,720. 0.18% of the stock is owned by insiders.

NYSE RTN traded up $3.90 during mid-day trading on Wednesday, reaching $196.12. 2,001,961 shares of the company’s stock traded hands, compared to its average volume of 1,920,469. Raytheon has a 1-year low of $144.27 and a 1-year high of $205.28. The company has a fifty day simple moving average of $191.31 and a 200-day simple moving average of $182.81. 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 company has a market cap of $54.62 billion, a price-to-earnings ratio of 18.48, a P/E/G ratio of 1.55 and a beta of 0.87.

Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, July 25th. The aerospace company reported $2.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.61 by $0.31. Raytheon had a return on equity of 26.34% and a net margin of 10.96%. The firm had revenue of $7.16 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same quarter last year, the firm earned $2.45 EPS. Raytheon’s quarterly revenue was up 8.1% on a year-over-year basis. Equities research analysts forecast that Raytheon will post 11.73 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Wednesday, October 9th will be paid a dividend of $0.9425 per share. The ex-dividend date is Tuesday, October 8th. This represents a $3.77 dividend on an annualized basis and a yield of 1.92%. Raytheon’s dividend payout ratio (DPR) is presently 35.53%.

Several brokerages recently commented on RTN. Buckingham Research downgraded Raytheon from a “buy” rating to a “neutral” rating and dropped their target price for the company from $265.00 to $195.00 in a report on Monday, June 24th. JPMorgan Chase & Co. upgraded Raytheon from a “neutral” rating to an “overweight” rating and raised their target price for the company from $225.00 to $230.00 in a report on Monday, September 16th. ValuEngine upgraded Raytheon from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Sanford C. Bernstein downgraded Raytheon from an “outperform” rating to a “market perform” rating and set a $212.00 target price on the stock. in a report on Tuesday, September 17th. Finally, Credit Suisse Group upgraded Raytheon from a “neutral” rating to an “outperform” rating and raised their target price for the company from $188.00 to $230.00 in a report on Thursday, October 3rd. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $213.00.

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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