Wright Investors Service Inc. Buys 57 Shares of Raytheon (NYSE:RTN)

Wright Investors Service Inc. lifted its stake in shares of Raytheon (NYSE:RTN) by 0.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,826 shares of the aerospace company’s stock after purchasing an additional 57 shares during the quarter. Wright Investors Service Inc.’s holdings in Raytheon were worth $1,534,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of Raytheon by 2.3% during the 1st quarter. BlackRock Inc. now owns 23,365,818 shares of the aerospace company’s stock valued at $4,254,449,000 after purchasing an additional 527,708 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its holdings in shares of Raytheon by 7.3% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 4,165,178 shares of the aerospace company’s stock valued at $758,397,000 after purchasing an additional 284,688 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Raytheon by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 3,729,683 shares of the aerospace company’s stock valued at $570,952,000 after purchasing an additional 186,460 shares during the last quarter. Clearbridge Investments LLC grew its holdings in shares of Raytheon by 1.6% during the 1st quarter. Clearbridge Investments LLC now owns 3,018,011 shares of the aerospace company’s stock valued at $549,519,000 after purchasing an additional 47,460 shares during the last quarter. Finally, LSV Asset Management grew its holdings in shares of Raytheon by 829.0% during the 1st quarter. LSV Asset Management now owns 2,129,350 shares of the aerospace company’s stock valued at $387,712,000 after purchasing an additional 1,900,150 shares during the last quarter. 74.71% of the stock is currently owned by institutional investors.

Several brokerages recently issued reports on RTN. Jefferies Financial Group lifted their price target on shares of Raytheon from $202.00 to $216.00 and gave the company a “buy” rating in a report on Monday, May 6th. Buckingham Research lowered shares of Raytheon from a “buy” rating to a “neutral” rating and decreased their price target for the company from $265.00 to $195.00 in a report on Monday, June 24th. Zacks Investment Research lowered shares of Raytheon from a “buy” rating to a “hold” rating in a report on Monday, April 29th. Stifel Nicolaus lifted their price target on shares of Raytheon from $205.00 to $218.00 and gave the company a “buy” rating in a report on Monday, June 10th. Finally, Vertical Research lowered shares of Raytheon from a “buy” rating to a “hold” rating and decreased their price target for the company from $216.00 to $203.00 in a report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. Raytheon currently has an average rating of “Buy” and an average target price of $209.80.

In other news, VP Wesley D. Kremer sold 8,186 shares of the business’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 transaction, the vice president now owns 29,175 shares in the company, valued at approximately $5,397,375. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Randa G. Newsome sold 10,000 shares of the business’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 completion of the transaction, 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. Insiders own 0.18% of the company’s stock.

RTN traded down $0.08 during trading on Thursday, reaching $178.38. 49,141 shares of the company’s stock were exchanged, compared to its average volume of 1,920,966. Raytheon has a one year low of $144.27 and a one year high of $210.89. The company has a quick ratio of 1.35, a current ratio of 1.46 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $49.44 billion, a PE ratio of 16.84, a PEG ratio of 1.47 and a beta of 0.86. The stock has a fifty day moving average price of $179.97.

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 firm had revenue of $7.16 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same period in the previous year, the firm posted $2.45 EPS. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Raytheon will post 11.71 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date was Tuesday, July 9th. Raytheon’s payout ratio is 35.53%.

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.

Further Reading: Stock Symbols and CUSIP Explained

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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