Institute for Wealth Management LLC. lowered its holdings in Raytheon (NYSE:RTN) by 5.5% during the second quarter, Holdings Channel.com reports. The firm owned 7,013 shares of the aerospace company’s stock after selling 405 shares during the period. Institute for Wealth Management LLC.’s holdings in Raytheon were worth $1,219,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Alpha Omega Wealth Management LLC purchased a new stake in Raytheon in the first quarter valued at $25,000. Farmers National Bank purchased a new stake in shares of Raytheon in the 1st quarter valued at $27,000. Semmax Financial Advisors Inc. raised its holdings in shares of Raytheon by 148.6% in the 1st quarter. Semmax Financial Advisors Inc. now owns 174 shares of the aerospace company’s stock valued at $32,000 after buying an additional 104 shares during the period. Destination Wealth Management raised its holdings in shares of Raytheon by 670.8% in the 1st quarter. Destination Wealth Management now owns 185 shares of the aerospace company’s stock valued at $34,000 after buying an additional 161 shares during the period. Finally, Weaver Consulting Group purchased a new stake in shares of Raytheon in the 1st quarter valued at $36,000. Institutional investors own 74.71% of the company’s stock.

Several research firms recently issued reports on RTN. Jefferies Financial Group boosted their price objective on Raytheon from $202.00 to $216.00 and gave the company a “buy” rating in a report on Monday, May 6th. Buckingham Research downgraded Raytheon from a “buy” rating to a “neutral” rating and cut their price objective for the company from $265.00 to $195.00 in a report on Monday, June 24th. Stifel Nicolaus boosted their price objective on Raytheon from $205.00 to $218.00 and gave the company a “buy” rating in a report on Monday, June 10th. Vertical Research downgraded Raytheon from a “buy” rating to a “hold” rating and cut their price objective for the company from $216.00 to $203.00 in a report on Tuesday, June 11th. Finally, Wolfe Research set a $205.00 price objective on Raytheon and gave the company a “buy” rating in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $209.80.

In other news, VP Wesley D. Kremer sold 8,186 shares of the company’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 transaction, the vice president now directly owns 29,175 shares of the company’s stock, valued at approximately $5,397,375. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Randa G. Newsome sold 10,000 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $185.01, for a total value of $1,850,100.00. Following the transaction, the vice president now directly owns 20,396 shares of the company’s stock, valued at $3,773,463.96. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

NYSE RTN traded down $0.33 during trading hours on Friday, hitting $178.19. 1,863,300 shares of the company were exchanged, compared to its average volume of 1,847,798. The company has a 50 day moving average of $179.96 and a two-hundred day moving average of $180.11. The company has a quick ratio of 1.35, a current ratio of 1.46 and a debt-to-equity ratio of 0.41. Raytheon has a 52-week low of $144.27 and a 52-week high of $210.89. The firm has a market cap of $49.72 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 1.43 and a beta of 0.86.

Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, July 25th. The aerospace company reported $2.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.61 by $0.31. Raytheon had a return on equity of 26.34% and a net margin of 10.96%. The company had revenue of $7.16 billion for the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter in the prior year, the business earned $2.45 EPS. Raytheon’s revenue was up 8.1% on a year-over-year basis. On average, equities research analysts predict that Raytheon will post 11.73 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a dividend of $0.9425 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $3.77 annualized dividend and a yield of 2.12%. Raytheon’s dividend payout ratio (DPR) is 35.53%.

Raytheon Company Profile

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.

Further Reading: Quick Ratio

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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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