Sasco Capital Inc. CT Lowers Stake in Raytheon (NYSE:RTN)

Sasco Capital Inc. CT lowered its stake in shares of Raytheon (NYSE:RTN) by 30.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 152,215 shares of the aerospace company’s stock after selling 65,390 shares during the quarter. Raytheon accounts for 2.5% of Sasco Capital Inc. CT’s investment portfolio, making the stock its 27th biggest position. Sasco Capital Inc. CT owned 0.05% of Raytheon worth $26,467,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Farmers National Bank purchased a new stake in shares of Raytheon during the 1st quarter valued at $27,000. Semmax Financial Advisors Inc. raised its position in shares of Raytheon by 148.6% during the 1st quarter. Semmax Financial Advisors Inc. now owns 174 shares of the aerospace company’s stock valued at $32,000 after buying an additional 104 shares in the last quarter. Weaver Consulting Group purchased a new stake in shares of Raytheon during the 1st quarter valued at $36,000. Berman Capital Advisors LLC raised its position 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 in the last quarter. Finally, Bremer Bank National Association purchased a new stake in shares of Raytheon during the 1st quarter valued at $39,000. Hedge funds and other institutional investors own 72.96% of the company’s stock.

A number of equities analysts recently commented on RTN shares. Vertical Research cut shares of Raytheon from a “buy” rating to a “hold” rating and decreased their target price for the stock from $216.00 to $203.00 in a research report on Tuesday, June 11th. ValuEngine cut shares of Raytheon from a “hold” rating to a “sell” rating in a research report on Friday, June 28th. Bank of America reiterated a “buy” rating and issued a $265.00 target price (up previously from $224.00) on shares of Raytheon in a research report on Friday, July 26th. JPMorgan Chase & Co. upgraded shares of Raytheon from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $225.00 to $230.00 in a research report on Monday. Finally, UBS Group lifted their target price on shares of Raytheon from $205.00 to $215.00 and gave the stock a “neutral” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $212.00.

Shares of RTN stock traded up $5.34 during mid-day trading on Monday, reaching $204.06. The stock had a trading volume of 2,442,424 shares, compared to its average volume of 1,450,045. The stock’s 50-day moving average price is $184.71 and its two-hundred day moving average price is $180.98. Raytheon has a 52-week low of $144.27 and a 52-week high of $210.89. The firm has a market capitalization of $54.99 billion, a PE ratio of 19.23, a price-to-earnings-growth ratio of 1.58 and a beta of 0.85. The company has a current ratio of 1.46, a quick ratio of 1.35 and a debt-to-equity ratio of 0.41.

Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, July 25th. The aerospace company reported $2.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $7.02 billion. During the same quarter in the previous year, the company earned $2.45 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, equities research analysts forecast that Raytheon will post 11.73 earnings per share for the current year.

In other Raytheon news, VP Randa G. Newsome sold 10,000 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $185.01, for a total value of $1,850,100.00. Following the transaction, the vice president now owns 20,396 shares in the company, valued at $3,773,463.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Frank R. Jimenez sold 1,054 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $180.00, for a total transaction of $189,720.00. Following the completion of the transaction, the vice president now owns 25,863 shares in the company, valued at approximately $4,655,340. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

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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