Raytheon Company (NYSE:RTN) Position Lowered by Dynamic Capital Management Ltd
Dynamic Capital Management Ltd lowered its position in shares of Raytheon Company (NYSE:RTN) by 85.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,421 shares of the aerospace company’s stock after selling 71,093 shares during the period. Dynamic Capital Management Ltd’s holdings in Raytheon were worth $1,894,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Raytheon by 2,166.0% in the first quarter. BlackRock Inc. now owns 19,407,819 shares of the aerospace company’s stock worth $2,959,694,000 after buying an additional 18,551,353 shares during the period. Vanguard Group Inc. raised its position in Raytheon by 4.7% in the first quarter. Vanguard Group Inc. now owns 21,910,520 shares of the aerospace company’s stock worth $3,341,355,000 after buying an additional 989,986 shares during the period. Renaissance Technologies LLC raised its position in Raytheon by 66.5% in the first quarter. Renaissance Technologies LLC now owns 1,289,200 shares of the aerospace company’s stock worth $196,603,000 after buying an additional 514,800 shares during the period. MARSHALL WACE ASIA Ltd purchased a new position in Raytheon during the first quarter worth approximately $58,030,000. Finally, Marshall Wace North America L.P. purchased a new position in Raytheon during the first quarter worth approximately $58,030,000. Hedge funds and other institutional investors own 74.98% of the company’s stock.
Raytheon Company (NYSE:RTN) traded up 0.68% during mid-day trading on Thursday, reaching $180.52. 309,295 shares of the company’s stock traded hands. The firm has a market cap of $52.40 billion, a price-to-earnings ratio of 24.93 and a beta of 0.59. Raytheon Company has a one year low of $132.89 and a one year high of $181.05. The firm’s 50-day moving average price is $167.67 and its 200 day moving average price is $158.13.
Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.15. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The business had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.24 billion. During the same period last year, the company posted $2.38 EPS. The business’s revenue was up 4.2% on a year-over-year basis. On average, equities analysts forecast that Raytheon Company will post $7.59 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 3rd. Shareholders of record on Wednesday, July 5th were paid a $0.7975 dividend. The ex-dividend date was Friday, June 30th. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.78%. Raytheon’s payout ratio is currently 43.94%.
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A number of research analysts have recently commented on RTN shares. Zacks Investment Research lowered shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Friday, May 19th. Vetr lowered shares of Raytheon from a “buy” rating to a “hold” rating and set a $166.27 target price for the company. in a research report on Tuesday, May 9th. Deutsche Bank AG upped their target price on shares of Raytheon from $156.00 to $160.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Royal Bank Of Canada reiterated a “buy” rating and issued a $181.00 target price on shares of Raytheon in a research report on Friday, June 2nd. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $172.00 target price on shares of Raytheon in a research report on Monday, June 26th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $180.12.
In other Raytheon news, CAO Michael J. Wood sold 1,442 shares of Raytheon stock in a transaction on Monday, June 5th. The shares were sold at an average price of $162.98, for a total value of $235,017.16. Following the completion of the transaction, the chief accounting officer now directly owns 18,470 shares of the company’s stock, valued at approximately $3,010,240.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert E. Beauchamp acquired 1,162 shares of the company’s stock in a transaction on Monday, July 31st. The stock was acquired at an average cost of $171.99 per share, with a total value of $199,852.38. Following the completion of the purchase, the director now directly owns 4,303 shares in the company, valued at $740,072.97. The disclosure for this purchase can be found here. Insiders sold a total of 15,911 shares of company stock valued at $2,580,752 over the last three months. Corporate insiders own 0.19% of the company’s stock.
Raytheon Company 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.
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