Raytheon (NYSE:RTN) Stock Position Lifted by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. boosted its stake in shares of Raytheon (NYSE:RTN) by 0.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,430 shares of the aerospace company’s stock after purchasing an additional 140 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Raytheon were worth $4,769,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Raytheon by 2.3% in the 1st quarter. BlackRock Inc. now owns 23,365,818 shares of the aerospace company’s stock valued at $4,254,449,000 after buying an additional 527,708 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Raytheon by 7.3% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 4,165,178 shares of the aerospace company’s stock valued at $758,397,000 after purchasing an additional 284,688 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Raytheon by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 3,729,683 shares of the aerospace company’s stock valued at $570,952,000 after purchasing an additional 186,460 shares during the last quarter. Clearbridge Investments LLC raised its holdings in Raytheon by 1.6% during the 1st quarter. Clearbridge Investments LLC now owns 3,018,011 shares of the aerospace company’s stock worth $549,519,000 after buying an additional 47,460 shares during the period. Finally, LSV Asset Management grew its stake in shares of Raytheon by 829.0% in the first quarter. LSV Asset Management now owns 2,129,350 shares of the aerospace company’s stock valued at $387,712,000 after buying an additional 1,900,150 shares in the last quarter. 74.71% of the stock is currently owned by hedge funds and other institutional investors.

In other Raytheon news, VP Wesley D. Kremer sold 8,186 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $185.00, for a total transaction of $1,514,410.00. Following the completion of the sale, the vice president now owns 29,175 shares of the company’s stock, valued at $5,397,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Randa G. Newsome sold 10,000 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $185.01, for a total value of $1,850,100.00. Following the sale, the vice president now directly owns 20,396 shares of the company’s stock, valued at approximately $3,773,463.96. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Shares of NYSE RTN traded up $0.46 during mid-day trading on Friday, hitting $178.98. 47,967 shares of the stock traded hands, compared to its average volume of 1,890,485. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.35 and a current ratio of 1.46. Raytheon has a 52 week low of $144.27 and a 52 week high of $210.89. The company has a market cap of $51.14 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 1.47 and a beta of 0.86. The stock has a fifty day moving average price of $179.94 and a 200-day moving average price of $180.12.

Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, July 25th. The aerospace company reported $2.92 EPS for the quarter, beating analysts’ consensus estimates of $2.61 by $0.31. The company had revenue of $7.16 billion during the quarter, compared to analysts’ expectations of $7.02 billion. Raytheon had a return on equity of 26.34% and a net margin of 10.96%. Raytheon’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.45 earnings per share. As a group, sell-side analysts predict that Raytheon will post 11.71 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date was Tuesday, July 9th. Raytheon’s dividend payout ratio (DPR) is presently 35.53%.

A number of research firms recently commented on RTN. Wolfe Research set a $205.00 price target on Raytheon and gave the company a “buy” rating in a research note on Friday, April 26th. Zacks Investment Research lowered Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, April 29th. ValuEngine lowered Raytheon from a “hold” rating to a “sell” rating in a research report on Friday, June 28th. Bank of America reissued a “buy” rating and issued a $265.00 price target (up from $224.00) on shares of Raytheon in a research report on Friday, July 26th. Finally, Vertical Research downgraded Raytheon from a “buy” rating to a “hold” rating and reduced their price objective for the company from $216.00 to $203.00 in a research note on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $209.80.

About Raytheon

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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