Home Federal Bank of Tennessee lowered its stake in shares of Raytheon Company (NYSE:RTN) by 2.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,765 shares of the aerospace company’s stock after selling 375 shares during the period. Raytheon makes up about 1.3% of Home Federal Bank of Tennessee’s portfolio, making the stock its 13th largest position. Home Federal Bank of Tennessee’s holdings in Raytheon were worth $2,384,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the stock. St. Johns Investment Management Company LLC bought a new stake in Raytheon during the second quarter valued at $113,000. Crestwood Advisors Group LLC bought a new stake in Raytheon during the first quarter valued at $110,000. Oakworth Capital Inc. raised its stake in Raytheon by 156.1% in the first quarter. Oakworth Capital Inc. now owns 730 shares of the aerospace company’s stock valued at $111,000 after buying an additional 445 shares during the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in Raytheon during the first quarter valued at $111,000. Finally, Jacobi Capital Management LLC raised its stake in Raytheon by 271.1% in the first quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock valued at $114,000 after buying an additional 553 shares during the last quarter. Institutional investors own 74.98% of the company’s stock.

Shares of Raytheon Company (NYSE:RTN) traded down 0.67% during trading on Thursday, hitting $178.10. The stock had a trading volume of 1,763,944 shares. Raytheon Company has a 12 month low of $132.89 and a 12 month high of $181.05. The company’s 50 day moving average price is $167.67 and its 200 day moving average price is $158.13. The stock has a market cap of $51.69 billion, a price-to-earnings ratio of 24.60 and a beta of 0.59.

Raytheon (NYSE:RTN) last announced its earnings results on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $6.24 billion. During the same period last year, the business posted $2.38 EPS. Raytheon’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities research analysts expect that Raytheon Company will post $7.59 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Wednesday, July 5th were issued a dividend of $0.7975 per share. This represents a $3.19 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend was Friday, June 30th. Raytheon’s dividend payout ratio (DPR) is 43.94%.

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Several analysts recently weighed in on the company. Argus restated a “buy” rating and set a $195.00 price target (up previously from $175.00) on shares of Raytheon in a report on Friday, August 4th. Robert W. Baird restated an “outperform” rating and set a $212.00 price target (up previously from $170.00) on shares of Raytheon in a report on Thursday. BidaskClub lowered Raytheon from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Morgan Stanley assumed coverage on Raytheon in a report on Tuesday. They set an “equal weight” rating and a $188.00 price target on the stock. Finally, Stifel Nicolaus restated a “buy” rating and set a $185.00 price target (up previously from $175.00) on shares of Raytheon in a report on Sunday, July 30th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $180.12.

In other news, Director Robert E. Beauchamp bought 1,162 shares of the stock in a transaction that occurred 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 acquisition, the director now directly owns 4,303 shares of the company’s stock, valued at approximately $740,072.97. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Taylor W. Lawrence sold 2,756 shares of the firm’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 transaction, the vice president now owns 53,285 shares of the company’s stock, 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 valued at $2,580,752 over the last 90 days. 0.19% of the stock is currently owned by company insiders.

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.

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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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