NorthCoast Asset Management LLC decreased its stake in shares of Raytheon Company (NYSE:RTN) by 13.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,160 shares of the aerospace company’s stock after selling 15,355 shares during the period. NorthCoast Asset Management LLC’s holdings in Raytheon were worth $14,969,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of RTN. Financial Architects Inc raised its position in shares of Raytheon by 0.5% in the first quarter. Financial Architects Inc now owns 1,305 shares of the aerospace company’s stock valued at $199,000 after buying an additional 7 shares during the period. Guardian Life Insurance Co. of America raised its position in shares of Raytheon by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,132 shares of the aerospace company’s stock valued at $173,000 after buying an additional 7 shares during the period. Cordasco Financial Network raised its position in shares of Raytheon by 0.5% in the first quarter. Cordasco Financial Network now owns 2,110 shares of the aerospace company’s stock valued at $322,000 after buying an additional 10 shares during the period. HM Capital Management LLC raised its position in shares of Raytheon by 0.5% in the first quarter. HM Capital Management LLC now owns 2,015 shares of the aerospace company’s stock valued at $307,000 after buying an additional 10 shares during the period. Finally, Founders Capital Management LLC raised its position in shares of Raytheon by 0.5% in the first quarter. Founders Capital Management LLC now owns 2,327 shares of the aerospace company’s stock valued at $355,000 after buying an additional 12 shares during the period. 74.83% of the stock is currently owned by institutional investors and hedge funds.

Shares of Raytheon Company (NYSE RTN) traded down 0.16% during midday trading on Friday, hitting $173.87. The company’s stock had a trading volume of 1,434,988 shares. The company has a market cap of $50.47 billion, a P/E ratio of 24.02 and a beta of 0.59. The company has a 50-day moving average price of $165.60 and a 200 day moving average price of $157.06. Raytheon Company has a 1-year low of $132.89 and a 1-year high of $174.60.

Raytheon (NYSE:RTN) last announced its earnings results on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.15. The firm had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.24 billion. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.38 EPS. On average, equities research analysts predict that Raytheon Company will post $7.58 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 3rd. Shareholders of record on Wednesday, July 5th were issued a dividend of $0.7975 per share. This represents a $3.19 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend was Friday, June 30th. Raytheon’s payout ratio is presently 43.94%.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by Daily Political and is the sole property of of Daily Political. If you are accessing this news story on another publication, it was illegally copied and reposted in violation of US and international trademark and copyright law. The legal version of this news story can be accessed at https://www.dailypolitical.com/2017/08/06/northcoast-asset-management-llc-decreases-position-in-raytheon-company-nysertn.html.

Several brokerages have recently issued reports on RTN. Zacks Investment Research lowered Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, May 29th. Jefferies Group LLC reaffirmed a “buy” rating and set a $172.00 price target on shares of Raytheon in a research note on Tuesday, May 23rd. Argus reaffirmed a “buy” rating and set a $195.00 price target (up previously from $175.00) on shares of Raytheon in a research note on Friday. Stifel Nicolaus reaffirmed a “buy” rating and set a $185.00 price target (up previously from $175.00) on shares of Raytheon in a research note on Sunday, July 30th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $183.00 price target (up previously from $180.00) on shares of Raytheon in a research note on Sunday, July 30th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $176.56.

In other news, Chairman Thomas A. Kennedy sold 10,703 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $162.05, for a total value of $1,734,421.15. Following the transaction, the chairman now directly owns 61,671 shares of the company’s stock, valued at approximately $9,993,785.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Taylor W. Lawrence sold 2,756 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $162.04, for a total value of $446,582.24. Following the completion of the transaction, the vice president now directly owns 53,285 shares in the company, valued at $8,634,301.40. The disclosure for this sale can be found here. Insiders have sold a total of 15,911 shares of company stock worth $2,580,752 over the last ninety days. Company insiders own 0.19% of the company’s stock.

Raytheon Company Profile

Raytheon Company is a technology company, which specializes in defense and other government markets. The Company develops integrated products, services and solutions in various markets, including sensing; effects; command, control, communications, computers, cyber and intelligence; mission support, and cybersecurity.

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

Receive News & Ratings for Raytheon Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon Company and related companies with MarketBeat.com's FREE daily email newsletter.