Mission Wealth Management LP increased its position in Raytheon (NYSE:RTN) by 92.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,003 shares of the aerospace company’s stock after acquiring an additional 961 shares during the period. Mission Wealth Management LP’s holdings in Raytheon were worth $387,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Squar Milner Financial Services LLC bought a new position in Raytheon in the 2nd quarter valued at about $100,000. Rainier Group Investment Advisory LLC bought a new position in Raytheon in the 1st quarter valued at about $103,000. Lipe & Dalton bought a new position in Raytheon in the 1st quarter valued at about $108,000. Bray Capital Advisors bought a new position in Raytheon in the 1st quarter valued at about $113,000. Finally, Clarus Wealth Advisors bought a new position in Raytheon in the 2nd quarter valued at about $113,000. 72.88% of the stock is currently owned by institutional investors and hedge funds.

In other Raytheon news, Director Vernon E. Clark sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $212.52, for a total value of $212,520.00. Following the completion of the transaction, the director now directly owns 6,588 shares in the company, valued at $1,400,081.76. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Michael J. Wood sold 621 shares of the firm’s stock in a transaction dated Monday, June 4th. The stock was sold at an average price of $212.13, for a total transaction of $131,732.73. Following the completion of the transaction, the chief accounting officer now owns 14,462 shares of the company’s stock, valued at $3,067,824.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,862 shares of company stock valued at $607,518. Corporate insiders own 0.19% of the company’s stock.

Several equities analysts have recently weighed in on RTN shares. ValuEngine lowered shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Friday, June 15th. Zacks Investment Research lowered shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Wednesday, April 25th. UBS Group started coverage on shares of Raytheon in a research report on Wednesday. They set a “buy” rating and a $250.00 price objective for the company. Stifel Nicolaus reduced their price objective on shares of Raytheon from $235.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, July 27th. Finally, Morgan Stanley reduced their price objective on shares of Raytheon from $239.00 to $228.00 and set an “overweight” rating for the company in a research report on Thursday, July 12th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Raytheon presently has a consensus rating of “Buy” and a consensus price target of $222.23.

Shares of RTN opened at $199.09 on Friday. Raytheon has a one year low of $175.26 and a one year high of $229.75. The stock has a market capitalization of $56.01 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 1.50 and a beta of 0.64. The company has a quick ratio of 1.51, a current ratio of 1.61 and a debt-to-equity ratio of 0.45.

Raytheon (NYSE:RTN) last announced its earnings results on Thursday, July 26th. The aerospace company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.32 by $0.46. Raytheon had a net margin of 9.24% and a return on equity of 24.01%. The company had revenue of $6.63 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same period last year, the company posted $1.98 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. analysts anticipate that Raytheon will post 9.93 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 2nd. Shareholders of record on Wednesday, July 11th were issued a $0.8675 dividend. This represents a $3.47 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend was Tuesday, July 10th. Raytheon’s payout ratio is 45.54%.

About Raytheon

Raytheon Company develops integrated products, services, and solutions for 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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