Archford Capital Strategies LLC lessened its holdings in Raytheon Company (NYSE:RTN) by 13.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,663 shares of the aerospace company’s stock after selling 551 shares during the period. Archford Capital Strategies LLC’s holdings in Raytheon were worth $1,110,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Guardian Life Insurance Co. of America lifted its stake in shares of Raytheon by 0.6% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,132 shares of the aerospace company’s stock valued at $173,000 after purchasing an additional 7 shares during the last quarter. HM Capital Management LLC lifted its stake in shares of Raytheon by 0.5% in the 2nd quarter. HM Capital Management LLC now owns 2,025 shares of the aerospace company’s stock valued at $327,000 after purchasing an additional 10 shares during the last quarter. Ironwood Investment Management LLC lifted its stake in shares of Raytheon by 0.7% in the 2nd quarter. Ironwood Investment Management LLC now owns 2,475 shares of the aerospace company’s stock valued at $400,000 after purchasing an additional 16 shares during the last quarter. Pineno Levin & Ford Asset Management Inc. lifted its stake in shares of Raytheon by 0.8% in the 2nd quarter. Pineno Levin & Ford Asset Management Inc. now owns 1,903 shares of the aerospace company’s stock valued at $307,000 after purchasing an additional 16 shares during the last quarter. Finally, TCI Wealth Advisors Inc. lifted its stake in shares of Raytheon by 0.8% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 2,048 shares of the aerospace company’s stock valued at $331,000 after purchasing an additional 17 shares during the last quarter. 73.80% of the stock is owned by institutional investors and hedge funds.

Raytheon (NYSE:RTN) last announced its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.07. The company had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.33 billion. Raytheon had a net margin of 8.77% and a return on equity of 20.98%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.79 EPS.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Thursday, October 12th will be given a dividend of $0.7975 per share. The ex-dividend date is Wednesday, October 11th. This represents a $3.19 annualized dividend and a yield of 1.73%. Raytheon’s dividend payout ratio is presently 42.88%.

In related news, VP Frank R. Jimenez sold 650 shares of Raytheon stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $187.27, for a total transaction of $121,725.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Vernon E. Clark sold 829 shares of Raytheon stock in a transaction that occurred on Monday, August 14th. The stock was 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. Over the last quarter, insiders have sold 5,770 shares of company stock worth $1,052,376. 0.19% of the stock is owned by corporate insiders.

A number of research analysts have weighed in on RTN shares. Buckingham Research boosted their target price on shares of Raytheon from $199.00 to $204.00 and gave the stock a “buy” rating in a research report on Tuesday. Robert W. Baird reissued a “buy” rating and set a $212.00 target price on shares of Raytheon in a research report on Tuesday, October 24th. Cowen and Company reissued a “buy” rating and set a $203.00 target price on shares of Raytheon in a research report on Thursday, October 26th. BidaskClub raised shares of Raytheon from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 12th. Finally, Citigroup Inc. restated a “buy” rating and set a $215.00 price objective (up previously from $192.00) on shares of Raytheon in a report on Monday, October 9th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $199.24.

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Raytheon Profile

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.

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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