Raytheon (NYSE:RTN) Stake Boosted by GWM Advisors LLC

GWM Advisors LLC grew its stake in shares of Raytheon (NYSE:RTN) by 2.3% in the 2nd quarter, Holdings Channel reports. The firm owned 68,806 shares of the aerospace company’s stock after acquiring an additional 1,555 shares during the quarter. GWM Advisors LLC’s holdings in Raytheon were worth $11,964,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of RTN. LSV Asset Management grew its holdings in shares of Raytheon by 829.0% during the first 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. Thoroughbred Financial Services LLC grew its holdings in shares of Raytheon by 17,408.1% during the second quarter. Thoroughbred Financial Services LLC now owns 1,107,038 shares of the aerospace company’s stock valued at $110,704,000 after purchasing an additional 1,100,715 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Raytheon by 2.3% during the first 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. Assenagon Asset Management S.A. bought a new position in shares of Raytheon during the first quarter valued at approximately $81,538,000. Finally, Artisan Partners Limited Partnership bought a new position in shares of Raytheon during the first quarter valued at approximately $62,635,000. 72.21% of the stock is owned by institutional investors.

RTN stock traded up $1.48 on Monday, reaching $179.67. The company’s stock had a trading volume of 29,600 shares, compared to its average volume of 1,847,798. Raytheon has a 52 week low of $144.27 and a 52 week high of $210.89. The company has a market capitalization of $50.02 billion, a P/E ratio of 16.92, a price-to-earnings-growth ratio of 1.43 and a beta of 0.86. The firm has a fifty day moving average of $179.96 and a two-hundred day moving average of $180.11. 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 (NYSE:RTN) last issued its quarterly earnings data on Thursday, July 25th. The aerospace company reported $2.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.61 by $0.31. The business had revenue of $7.16 billion during the quarter, compared to analyst estimates of $7.02 billion. Raytheon had a return on equity of 26.34% and a net margin of 10.96%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.45 EPS. As a group, equities analysts expect that Raytheon will post 11.73 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date was Tuesday, July 9th. Raytheon’s payout ratio is currently 35.53%.

A number of equities analysts recently issued reports on the company. Wolfe Research set a $205.00 price objective on Raytheon and gave the stock a “buy” rating in a report on Friday, April 26th. Jefferies Financial Group increased their price objective on Raytheon from $202.00 to $216.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Zacks Investment Research lowered Raytheon from a “buy” rating to a “hold” rating in a report on Monday, April 29th. ValuEngine lowered Raytheon from a “hold” rating to a “sell” rating in a report on Friday, June 28th. Finally, Stifel Nicolaus increased their price objective on Raytheon from $205.00 to $218.00 and gave the stock a “buy” rating in a report on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $209.80.

In other Raytheon news, VP Wesley D. Kremer sold 8,186 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $185.00, for a total transaction of $1,514,410.00. Following the completion of the transaction, the vice president now directly owns 29,175 shares of the company’s stock, valued at approximately $5,397,375. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Randa G. Newsome sold 10,000 shares of the stock in a transaction on 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 directly owns 20,396 shares of the company’s stock, valued at $3,773,463.96. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

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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