Investment Centers of America Inc. lowered its stake in shares of Raytheon Company (NYSE:RTN) by 5.0% during the first quarter, Holdings Channel reports. The firm owned 2,096 shares of the aerospace company’s stock after selling 110 shares during the period. Investment Centers of America Inc.’s holdings in Raytheon were worth $320,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in RTN. Scopus Asset Management L.P. purchased a new stake in Raytheon during the first quarter valued at $28,975,000. Gotham Asset Management LLC increased its stake in Raytheon by 188.1% in the first quarter. Gotham Asset Management LLC now owns 152,587 shares of the aerospace company’s stock valued at $23,270,000 after buying an additional 99,618 shares during the period. Signaturefd LLC increased its stake in Raytheon by 15.8% in the first quarter. Signaturefd LLC now owns 1,974 shares of the aerospace company’s stock valued at $301,000 after buying an additional 269 shares during the period. Sii Investments Inc. WI increased its stake in Raytheon by 0.4% in the first quarter. Sii Investments Inc. WI now owns 45,390 shares of the aerospace company’s stock valued at $6,925,000 after buying an additional 170 shares during the period. Finally, Level Four Advisory Services LLC increased its stake in Raytheon by 52.5% in the first quarter. Level Four Advisory Services LLC now owns 2,384 shares of the aerospace company’s stock valued at $358,000 after buying an additional 821 shares during the period. 74.98% of the stock is currently owned by institutional investors.

Raytheon Company (RTN) traded up 0.97% on Friday, hitting $179.35. The stock had a trading volume of 1,930,579 shares. Raytheon Company has a 52-week low of $132.89 and a 52-week high of $181.05. The stock’s 50-day moving average is $168.59 and its 200-day moving average is $158.50. The company has a market cap of $52.06 billion, a P/E ratio of 24.77 and a beta of 0.59. Raytheon also saw unusually large options trading activity on Thursday. Stock traders purchased 14,447 call options on the company. This is an increase of 901% compared to the average daily volume of 1,443 call options.

Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.15. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. 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 firm earned $2.38 earnings per share. Raytheon’s revenue was up 4.2% on a year-over-year basis. Analysts expect that Raytheon Company will post $7.59 earnings per share for the current year.

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

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Several equities research analysts recently weighed in on the company. BidaskClub raised Raytheon from a “buy” rating to a “strong-buy” rating in a report on Saturday. Buckingham Research raised their price objective on Raytheon from $190.00 to $199.00 and gave the company a “buy” rating in a report on Friday. Cowen and Company reissued an “outperform” rating and set a $189.00 price objective (up previously from $182.00) on shares of Raytheon in a report on Thursday. Robert W. Baird reaffirmed an “outperform” rating and set a $212.00 target price (up from $170.00) on shares of Raytheon in a research report on Thursday. Finally, Morgan Stanley started coverage on Raytheon in a research report on Tuesday. They set an “equal weight” rating and a $188.00 target price for the company. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $182.49.

In related news, Director Robert E. Beauchamp purchased 1,162 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was bought at an average cost of $171.99 per share, with a total value of $199,852.38. Following the completion of the purchase, the director now directly owns 4,303 shares in the company, valued at $740,072.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Thomas A. Kennedy sold 10,703 shares of the stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $162.05, for a total transaction of $1,734,421.15. Following the completion of the transaction, the chairman now directly owns 61,671 shares of the company’s stock, valued at $9,993,785.55. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,911 shares of company stock valued at $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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