First Citizens Bank & Trust Co. decreased its stake in Raytheon Company (NYSE:RTN) by 9.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,114 shares of the aerospace company’s stock after selling 224 shares during the period. First Citizens Bank & Trust Co.’s holdings in Raytheon were worth $341,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Raytheon by 4.7% in the first quarter. Vanguard Group Inc. now owns 21,910,520 shares of the aerospace company’s stock valued at $3,341,355,000 after buying an additional 989,986 shares during the last quarter. BlackRock Inc. increased its stake in shares of Raytheon by 2,166.0% in the first quarter. BlackRock Inc. now owns 19,407,819 shares of the aerospace company’s stock valued at $2,959,694,000 after buying an additional 18,551,353 shares during the last quarter. State Street Corp increased its stake in shares of Raytheon by 2.6% in the first quarter. State Street Corp now owns 12,585,731 shares of the aerospace company’s stock valued at $1,919,348,000 after buying an additional 313,435 shares during the last quarter. Morgan Stanley increased its stake in shares of Raytheon by 7.2% in the first quarter. Morgan Stanley now owns 4,491,454 shares of the aerospace company’s stock valued at $684,945,000 after buying an additional 302,274 shares during the last quarter. Finally, Clearbridge Investments LLC increased its stake in shares of Raytheon by 0.7% in the first quarter. Clearbridge Investments LLC now owns 3,527,842 shares of the aerospace company’s stock valued at $537,996,000 after buying an additional 23,172 shares during the last quarter. 74.98% of the stock is owned by institutional investors and hedge funds.

Shares of Raytheon Company (NYSE:RTN) traded down 0.67% during trading on Thursday, hitting $178.10. 1,763,944 shares of the stock traded hands. The company has a market cap of $51.69 billion, a P/E 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 stock has a 50-day moving average of $167.67 and a 200 day moving average of $158.13.

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

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 3rd. Stockholders 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 dividend yield of 1.78%. Raytheon’s dividend payout ratio (DPR) is currently 43.94%.

WARNING: This piece of content was originally posted by Daily Political and is the sole property of of Daily Political. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this piece of content can be accessed at https://www.dailypolitical.com/2017/08/10/raytheon-company-nysertn-shares-sold-by-first-citizens-bank-trust-co.html.

Several analysts recently commented on RTN shares. Robert W. Baird reaffirmed an “outperform” rating and set a $212.00 target price (up previously from $170.00) on shares of Raytheon in a report on Thursday. Vetr raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $178.87 target price for the company in a report on Monday, July 17th. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $175.00 target price for the company in a report on Monday, May 1st. BidaskClub downgraded shares of Raytheon from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $183.00 target price (up previously from $180.00) on shares of Raytheon in a report on Sunday, July 30th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $180.12.

In other news, VP Wesley D. Kremer sold 1,010 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $163.10, for a total value of $164,731.00. Following the completion of the transaction, the vice president now directly owns 23,136 shares in the company, valued at $3,773,481.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert E. Beauchamp acquired 1,162 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was purchased at an average price of $171.99 per share, with a total value of $199,852.38. Following the completion of the transaction, the director now directly owns 4,303 shares of the company’s stock, valued at approximately $740,072.97. The disclosure for this purchase can be found here. Insiders sold 15,911 shares of company stock valued at $2,580,752 over the last 90 days. 0.19% of the stock is owned by company 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.

Want to see what other hedge funds are holding RTN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raytheon Company (NYSE:RTN).

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.