Narwhal Capital Management decreased its holdings in shares of Raytheon Company (NYSE:RTN) by 0.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,225 shares of the aerospace company’s stock after selling 355 shares during the quarter. Raytheon makes up about 1.8% of Narwhal Capital Management’s investment portfolio, making the stock its 8th biggest holding. Narwhal Capital Management’s holdings in Raytheon were worth $7,319,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Raytheon by 1.7% during the second quarter. Vanguard Group Inc. now owns 22,278,418 shares of the aerospace company’s stock worth $3,597,519,000 after acquiring an additional 367,898 shares in the last quarter. BlackRock Inc. raised its position in Raytheon by 2.7% during the second quarter. BlackRock Inc. now owns 19,934,958 shares of the aerospace company’s stock worth $3,219,097,000 after acquiring an additional 527,139 shares in the last quarter. State Street Corp raised its position in Raytheon by 2.6% during the first quarter. State Street Corp now owns 12,585,731 shares of the aerospace company’s stock worth $1,919,348,000 after acquiring an additional 313,435 shares in the last quarter. Morgan Stanley raised its position in Raytheon by 7.2% during the first quarter. Morgan Stanley now owns 4,491,454 shares of the aerospace company’s stock worth $684,945,000 after acquiring an additional 302,274 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in Raytheon by 0.7% during the first quarter. Clearbridge Investments LLC now owns 3,527,842 shares of the aerospace company’s stock worth $537,996,000 after acquiring an additional 23,172 shares in the last quarter. Institutional investors and hedge funds own 74.15% of the company’s stock.

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In other Raytheon news, Director Vernon E. Clark sold 829 shares of the 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 directly owns 7,588 shares in the company, valued at $1,367,281.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Frank R. Jimenez sold 650 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $187.27, for a total transaction of $121,725.50. The disclosure for this sale can be found here. Insiders sold 5,770 shares of company stock worth $1,052,376 over the last 90 days. 0.19% of the stock is currently owned by corporate insiders.

Several analysts have issued reports on the stock. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $204.00 price target on the stock in a research report on Thursday, September 14th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $199.00 price target (up from $188.00) on shares of Raytheon in a research report on Monday, October 30th. They noted that the move was a valuation call. Vetr lowered shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price target on the stock. in a research report on Tuesday, August 15th. Wells Fargo & Company dropped their price target on shares of Raytheon from $200.00 to $195.00 and set an “outperform” rating on the stock in a research report on Friday, October 27th. Finally, Buckingham Research upped their price target on shares of Raytheon from $199.00 to $204.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $199.24.

Raytheon Company (NYSE RTN) opened at $184.71 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.66 and a quick ratio of 1.55. Raytheon Company has a one year low of $132.91 and a one year high of $190.25. The company has a market cap of $53,397.26, a PE ratio of 24.43, a P/E/G ratio of 2.51 and a beta of 0.57.

Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.07. Raytheon had a net margin of 8.77% and a return on equity of 20.98%. The business had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.33 billion. During the same period in the prior year, the company posted $1.79 earnings per share. Raytheon’s revenue was up 4.5% compared to the same quarter last year. research analysts anticipate that Raytheon Company will post 7.61 EPS for the current fiscal year.

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

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.

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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