Raytheon Company (NYSE:RTN) Shares Sold by Liberty Mutual Group Asset Management Inc.
Liberty Mutual Group Asset Management Inc. lowered its position in Raytheon Company (NYSE:RTN) by 27.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,096 shares of the aerospace company’s stock after selling 5,812 shares during the period. Liberty Mutual Group Asset Management Inc.’s holdings in Raytheon were worth $2,301,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lockheed Martin Investment Management Co. purchased a new position in Raytheon during the first quarter worth about $1,830,000. James Investment Research Inc. raised its position in Raytheon by 0.6% in the first quarter. James Investment Research Inc. now owns 68,346 shares of the aerospace company’s stock worth $10,422,000 after buying an additional 381 shares during the last quarter. GHP Investment Advisors Inc. purchased a new position in Raytheon during the first quarter worth about $204,000. Capstone Asset Management Co. raised its position in Raytheon by 7.7% in the first quarter. Capstone Asset Management Co. now owns 72,253 shares of the aerospace company’s stock worth $11,019,000 after buying an additional 5,179 shares during the last quarter. Finally, Banced Corp raised its position in Raytheon by 6.0% in the first quarter. Banced Corp now owns 2,995 shares of the aerospace company’s stock worth $457,000 after buying an additional 169 shares during the last quarter. 74.83% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Raytheon Company (NYSE RTN) traded down 0.16% during midday trading on Friday, reaching $173.87. The company’s stock had a trading volume of 1,434,988 shares. Raytheon Company has a 12 month low of $132.89 and a 12 month high of $174.60. The company has a market cap of $50.47 billion, a price-to-earnings ratio of 24.02 and a beta of 0.59. The stock has a 50-day moving average of $165.60 and a 200 day moving average of $157.06.
Raytheon (NYSE:RTN) last announced its quarterly earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.15. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The company had revenue of $6.28 billion during the quarter, compared to the consensus estimate of $6.24 billion. During the same period in the prior year, the company earned $2.38 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, analysts predict that Raytheon Company will post $7.58 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Shareholders of record on Wednesday, July 5th were issued a $0.7975 dividend. The ex-dividend date of this dividend was Friday, June 30th. This represents a $3.19 annualized dividend and a dividend yield of 1.83%. Raytheon’s dividend payout ratio (DPR) is currently 43.94%.
A number of research analysts recently issued reports on RTN shares. Cowen and Company reaffirmed a “buy” rating and set a $170.00 target price on shares of Raytheon in a report on Monday, April 10th. Vetr lowered Raytheon from a “buy” rating to a “hold” rating and set a $166.27 price target for the company. in a research report on Tuesday, May 9th. Jefferies Group LLC reiterated a “buy” rating and issued a $172.00 price target on shares of Raytheon in a research report on Monday, June 26th. Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $175.00 price target for the company in a research report on Monday, May 1st. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $181.00 price target on shares of Raytheon in a research report on Friday, June 2nd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Raytheon has an average rating of “Buy” and an average target price of $176.56.
In other Raytheon news, Director Robert E. Beauchamp purchased 1,162 shares of the stock in a transaction on Monday, July 31st. The stock was bought at an average cost of $171.99 per share, for a total transaction of $199,852.38. Following the completion of the acquisition, the director now directly owns 4,303 shares of the company’s stock, valued at $740,072.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Michael J. Wood sold 1,442 shares of the stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $162.98, for a total value of $235,017.16. Following the completion of the sale, the chief accounting officer now owns 18,470 shares of the company’s stock, valued at $3,010,240.60. The disclosure for this sale can be found here. Insiders sold 15,911 shares of company stock valued at $2,580,752 over the last 90 days. Corporate insiders own 0.19% of the company’s stock.
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.
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