Cypress Asset Management Inc. TX boosted its stake in shares of Raytheon Company (NYSE:RTN) by 1.0% during the second quarter, Holdings Channel reports. The firm owned 44,432 shares of the aerospace company’s stock after buying an additional 458 shares during the period. Raytheon comprises approximately 1.5% of Cypress Asset Management Inc. TX’s portfolio, making the stock its 18th largest position. Cypress Asset Management Inc. TX’s holdings in Raytheon were worth $7,175,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in RTN. TNB Financial bought a new stake in shares of Raytheon during the first quarter worth about $1,135,000. Grassi Investment Management bought a new stake in shares of Raytheon during the first quarter worth about $4,651,000. Adirondack Trust Co. increased its stake in shares of Raytheon by 7.1% in the first quarter. Adirondack Trust Co. now owns 803 shares of the aerospace company’s stock worth $122,000 after buying an additional 53 shares during the last quarter. Capstone Asset Management Co. increased its stake in shares of 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, Ipswich Investment Management Co. Inc. increased its stake in shares of Raytheon by 3.6% in the first quarter. Ipswich Investment Management Co. Inc. now owns 30,589 shares of the aerospace company’s stock worth $4,665,000 after buying an additional 1,066 shares during the last quarter. 74.98% of the stock is currently owned by institutional investors.

Raytheon Company (NYSE:RTN) traded down 0.67% during trading on Thursday, hitting $178.10. 1,763,945 shares of the company were exchanged. The stock has a market capitalization of $51.69 billion, a PE ratio of 24.60 and a beta of 0.59. Raytheon Company has a 1-year low of $132.89 and a 1-year high of $181.05. The firm’s 50 day moving average price is $167.67 and its 200-day moving average price is $158.13.

Raytheon (NYSE:RTN) last issued its earnings results on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.15. The firm had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.24 billion. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. Raytheon’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.38 earnings per share. Equities analysts predict that Raytheon Company will post $7.59 EPS for the current year.

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

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A number of analysts have recently issued reports on RTN shares. Stifel Nicolaus raised their price target on shares of Raytheon from $160.00 to $175.00 and gave the company a “buy” rating in a report on Friday, April 28th. Deutsche Bank AG raised their price target on shares of Raytheon from $156.00 to $160.00 and gave the company a “hold” rating in a report on Friday, April 28th. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $175.00 price target on the stock in a report on Monday, May 1st. Vetr downgraded shares of Raytheon from a “buy” rating to a “hold” rating and set a $166.27 price target on the stock. in a report on Tuesday, May 9th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $172.00 price target on shares of Raytheon in a report on Tuesday, May 23rd. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $180.12.

In related news, VP Wesley D. Kremer sold 1,010 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $163.10, for a total value of $164,731.00. Following the sale, the vice president now owns 23,136 shares in the company, valued at $3,773,481.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert E. Beauchamp bought 1,162 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was purchased at an average price of $171.99 per share, for a total transaction of $199,852.38. Following the transaction, the director now owns 4,303 shares of the company’s stock, valued at $740,072.97. The disclosure for this purchase can be found here. In the last quarter, insiders sold 15,911 shares of company stock worth $2,580,752. 0.19% of the stock is owned by insiders.

About Raytheon

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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