Private Capital Group LLC Reduces Holdings in Raytheon (NYSE:RTN)

Private Capital Group LLC decreased its holdings in shares of Raytheon (NYSE:RTN) by 50.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 434 shares of the aerospace company’s stock after selling 440 shares during the period. Private Capital Group LLC’s holdings in Raytheon were worth $84,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Weaver Consulting Group acquired a new position in Raytheon in the first quarter valued at approximately $36,000. Bremer Bank National Association acquired a new position in Raytheon in the first quarter valued at approximately $39,000. Berman Capital Advisors LLC lifted its holdings in Raytheon by 74.6% in the second quarter. Berman Capital Advisors LLC now owns 220 shares of the aerospace company’s stock valued at $38,000 after acquiring an additional 94 shares during the period. Meridian Wealth Management LLC acquired a new position in Raytheon in the first quarter valued at approximately $46,000. Finally, Alera Investment Advisors LLC acquired a new position in shares of Raytheon during the 1st quarter worth approximately $52,000. Hedge funds and other institutional investors own 72.96% of the company’s stock.

NYSE RTN traded up $1.74 during mid-day trading on Monday, hitting $197.26. The stock had a trading volume of 289,465 shares, compared to its average volume of 1,568,366. The firm’s 50 day moving average is $188.50 and its 200 day moving average is $181.96. Raytheon has a twelve month low of $144.27 and a twelve month high of $209.18. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.46 and a quick ratio of 1.35. The stock has a market capitalization of $55.12 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 1.58 and a beta of 0.85.

Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, July 25th. The aerospace company reported $2.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.61 by $0.31. Raytheon had a return on equity of 26.34% and a net margin of 10.96%. The firm had revenue of $7.16 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same period in the prior year, the company earned $2.45 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. As a group, equities research analysts expect that Raytheon will post 11.73 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Wednesday, October 9th will be paid a $0.9425 dividend. This represents a $3.77 annualized dividend and a yield of 1.91%. The ex-dividend date is Tuesday, October 8th. Raytheon’s dividend payout ratio is currently 35.53%.

Several research analysts have recently weighed in on the company. UBS Group upped their target price on Raytheon from $205.00 to $215.00 and gave the stock a “neutral” rating in a research note on Friday, September 13th. Vertical Research downgraded Raytheon from a “buy” rating to a “hold” rating and reduced their target price for the stock from $216.00 to $203.00 in a research note on Tuesday, June 11th. Bank of America reaffirmed a “buy” rating and set a $265.00 target price (up from $224.00) on shares of Raytheon in a research note on Friday, July 26th. Buckingham Research downgraded Raytheon from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $265.00 to $195.00 in a research note on Monday, June 24th. Finally, Stifel Nicolaus upped their target price on Raytheon from $205.00 to $218.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $212.00.

In other Raytheon news, VP Randa G. Newsome sold 10,000 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $185.01, for a total value of $1,850,100.00. Following the completion of the sale, the vice president now directly owns 20,396 shares in the company, valued at approximately $3,773,463.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Frank R. Jimenez sold 1,054 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $180.00, for a total value of $189,720.00. Following the completion of the sale, the vice president now owns 25,863 shares of the company’s stock, valued at $4,655,340. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,969 shares of company stock valued at $2,622,820. 0.18% of the stock is owned by corporate insiders.

Raytheon Company Profile

Raytheon Company develops integrated products, services, and solutions for the defense and other government markets worldwide. It operates through five segments: Integrated Defense Systems (IDS); Intelligence, Information and Services (IIS); Missile Systems (MS); Space and Airborne Systems (SAS); and Forcepoint.

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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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