K.J. Harrison & Partners Inc maintained its position in Raytheon Co. (NYSE:RTN) during the second quarter, Holdings Channel reports. The firm owned 8,000 shares of the company’s stock at the end of the second quarter. K.J. Harrison & Partners Inc’s holdings in Raytheon were worth $1,088,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RTN. Ferguson Wellman Capital Management Inc. increased its position in Raytheon by 6.5% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 317,893 shares of the company’s stock valued at $43,217,000 after buying an additional 19,421 shares during the period. Royal Bank of Canada increased its position in Raytheon by 66.7% in the first quarter. Royal Bank of Canada now owns 1,136,397 shares of the company’s stock valued at $139,356,000 after buying an additional 454,613 shares during the period. Trust Department MB Financial Bank N A increased its position in Raytheon by 16.8% in the second quarter. Trust Department MB Financial Bank N A now owns 2,335 shares of the company’s stock valued at $223,000 after buying an additional 335 shares during the period. Legal & General Group Plc increased its position in Raytheon by 3.0% in the first quarter. Legal & General Group Plc now owns 1,332,513 shares of the company’s stock valued at $163,410,000 after buying an additional 38,809 shares during the period. Finally, Silvercrest Asset Management Group LLC increased its position in Raytheon by 150.2% in the first quarter. Silvercrest Asset Management Group LLC now owns 6,654 shares of the company’s stock valued at $816,000 after buying an additional 3,995 shares during the period. 77.90% of the stock is owned by institutional investors and hedge funds.

Raytheon Co. (NYSE:RTN) traded up 0.25% during trading on Thursday, hitting $139.47. 1,009,532 shares of the stock were exchanged. The stock’s 50 day moving average price is $140.09 and its 200 day moving average price is $133.01. The stock has a market cap of $41.16 billion, a P/E ratio of 19.49 and a beta of 0.66. Raytheon Co. has a 12 month low of $105.20 and a 12 month high of $143.39.

Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, July 28th. The company reported $2.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.64. Raytheon had a net margin of 9.02% and a return on equity of 19.26%. The firm had revenue of $6 billion for the quarter, compared to analyst estimates of $5.83 billion. During the same quarter last year, the firm posted $1.65 earnings per share. Raytheon’s revenue for the quarter was up 3.2% compared to the same quarter last year. Analysts forecast that Raytheon Co. will post $7.41 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Wednesday, October 5th will be issued a $0.7325 dividend. This represents a $2.93 annualized dividend and a yield of 2.10%. Raytheon’s payout ratio is 40.86%.

Several analysts have recently issued reports on the stock. Argus restated a “buy” rating and set a $161.00 target price on shares of Raytheon in a research report on Wednesday, August 3rd. Zacks Investment Research cut shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. JPMorgan Chase & Co. set a $145.00 target price on shares of Raytheon and gave the company a “buy” rating in a research report on Friday, July 29th. Wells Fargo & Co. restated a “buy” rating on shares of Raytheon in a research report on Thursday, June 9th. Finally, Credit Suisse Group AG restated a “buy” rating and set a $151.00 target price on shares of Raytheon in a research report on Friday, July 29th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $174.93.

In related news, Director Vernon E. Clark sold 2,540 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $141.01, for a total value of $358,165.40. Following the transaction, the director now owns 7,246 shares in the company, valued at $1,021,758.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is currently owned by corporate insiders.

Raytheon Company Profile

Raytheon Company (Raytheon), together with its subsidiaries, is a technology company. The Company develops technologically integrated products, services and solutions in various markets, such as sensing; effects; command, control, communications, computers, cyber and intelligence (C5I); mission support, and cybersecurity.

5 Day Chart for NYSE:RTN

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