Chemical Bank lifted its position in shares of Raytheon Company (NYSE:RTN) by 13.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,554 shares of the aerospace company’s stock after buying an additional 650 shares during the period. Chemical Bank’s holdings in Raytheon were worth $897,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in RTN. Fort Washington Investment Advisors Inc. OH boosted its position in Raytheon by 1.3% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 15,865 shares of the aerospace company’s stock worth $2,562,000 after purchasing an additional 205 shares during the period. TIAA CREF Investment Management LLC boosted its position in Raytheon by 4.1% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,769,723 shares of the aerospace company’s stock worth $285,775,000 after purchasing an additional 70,128 shares during the period. Teachers Advisors LLC boosted its position in Raytheon by 8.5% during the 2nd quarter. Teachers Advisors LLC now owns 776,489 shares of the aerospace company’s stock worth $125,387,000 after purchasing an additional 60,851 shares during the period. CWA Asset Management Group LLC boosted its position in Raytheon by 10.3% during the 2nd quarter. CWA Asset Management Group LLC now owns 25,149 shares of the aerospace company’s stock worth $4,061,000 after purchasing an additional 2,350 shares during the period. Finally, Peloton Wealth Strategists boosted its position in Raytheon by 1.7% during the 2nd quarter. Peloton Wealth Strategists now owns 9,125 shares of the aerospace company’s stock worth $1,474,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 73.74% of the company’s stock.

In other Raytheon news, Director Robert E. Beauchamp bought 1,162 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were acquired at an average cost of $171.99 per share, for a total transaction of $199,852.38. Following the transaction, the director now owns 4,303 shares in the company, valued at $740,072.97. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Vernon E. Clark sold 829 shares of Raytheon stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $180.19, for a total transaction of $149,377.51. Following the sale, the director now owns 7,588 shares in the company, valued at $1,367,281.72. The disclosure for this sale can be found here. Insiders sold a total of 5,770 shares of company stock worth $1,052,376 over the last 90 days. Company insiders own 0.19% of the company’s stock.

Raytheon Company (RTN) opened at 187.89 on Friday. The company has a market cap of $54.53 billion, a PE ratio of 25.95 and a beta of 0.59. Raytheon Company has a 12 month low of $132.89 and a 12 month high of $189.64. The stock’s 50 day moving average is $184.07 and its 200 day moving average is $168.36.

Raytheon (NYSE:RTN) last posted 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. The company had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.24 billion. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the business posted $2.38 EPS. Equities analysts predict that Raytheon Company will post $7.59 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Thursday, October 12th will be given a $0.7975 dividend. The ex-dividend date is Wednesday, October 11th. This represents a $3.19 annualized dividend and a yield of 1.70%. Raytheon’s dividend payout ratio is 43.94%.

A number of brokerages recently weighed in on RTN. Royal Bank Of Canada reaffirmed a “buy” rating and set a $209.00 price target on shares of Raytheon in a research report on Tuesday. Citigroup Inc. reaffirmed a “buy” rating and set a $215.00 price target (up from $192.00) on shares of Raytheon in a research report on Monday, October 9th. ValuEngine cut shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $190.00 price target on shares of Raytheon in a research report on Friday, September 29th. Finally, Deutsche Bank AG raised shares of Raytheon from a “hold” rating to a “buy” rating and upped their price target for the stock from $180.00 to $210.00 in a research report on Friday, September 29th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $193.19.

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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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