Schwab Charles Investment Management Inc. raised its stake in shares of Raytheon Company (NYSE:RTN) by 3.2% during the first quarter, Holdings Channel reports. The institutional investor owned 1,035,240 shares of the aerospace company’s stock after buying an additional 31,799 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Raytheon were worth $157,875,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. North American Management Corp increased its stake in shares of Raytheon by 2.8% in the first quarter. North American Management Corp now owns 34,569 shares of the aerospace company’s stock valued at $5,272,000 after buying an additional 935 shares in the last quarter. Private Bank & Trust Co. increased its stake in shares of Raytheon by 3.6% in the first quarter. Private Bank & Trust Co. now owns 5,811 shares of the aerospace company’s stock valued at $886,000 after buying an additional 200 shares in the last quarter. Honkamp Krueger Financial Services Inc. increased its stake in shares of Raytheon by 1.8% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 6,953 shares of the aerospace company’s stock valued at $1,060,000 after buying an additional 121 shares in the last quarter. Edge Wealth Management LLC increased its stake in shares of Raytheon by 2.6% in the first quarter. Edge Wealth Management LLC now owns 12,028 shares of the aerospace company’s stock valued at $1,838,000 after buying an additional 303 shares in the last quarter. Finally, Banced Corp increased its stake in shares of Raytheon by 6.0% in the first quarter. Banced Corp now owns 2,995 shares of the aerospace company’s stock valued at $457,000 after buying an additional 169 shares in the last quarter. 74.98% of the stock is owned by institutional investors and hedge funds.

Shares of Raytheon Company (RTN) traded up 0.97% on Friday, hitting $179.35. The company had a trading volume of 1,930,579 shares. The firm has a market capitalization of $52.06 billion, a price-to-earnings ratio of 24.77 and a beta of 0.59. The company has a 50 day moving average price of $168.59 and a 200 day moving average price of $158.50. Raytheon Company has a 1-year low of $132.89 and a 1-year high of $181.05. Raytheon also was the recipient of some unusual options trading on Thursday. Stock investors bought 14,447 call options on the company. This is an increase of approximately 901% compared to the typical daily volume of 1,443 call options.

Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.15. The business had revenue of $6.28 billion for the quarter, compared to analysts’ expectations of $6.24 billion. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.38 EPS. On average, equities analysts forecast that Raytheon Company will post $7.59 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Wednesday, July 5th were issued a dividend of $0.7975 per share. The ex-dividend date of this dividend was Friday, June 30th. This represents a $3.19 dividend on an annualized basis and a yield of 1.78%. Raytheon’s dividend payout ratio (DPR) is 43.94%.

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Several equities research analysts have issued reports on the company. BidaskClub raised Raytheon from a “buy” rating to a “strong-buy” rating in a report on Saturday. Robert W. Baird reaffirmed an “outperform” rating and set a $212.00 price target (up previously from $170.00) on shares of Raytheon in a report on Thursday. Cowen and Company reaffirmed an “outperform” rating and set a $189.00 price target (up previously from $182.00) on shares of Raytheon in a report on Thursday. Buckingham Research raised their price target on Raytheon from $190.00 to $199.00 and gave the company a “buy” rating in a report on Friday. Finally, Argus reaffirmed a “buy” rating and set a $195.00 price target (up previously from $175.00) on shares of Raytheon in a report on Friday, August 4th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Raytheon has an average rating of “Buy” and a consensus target price of $182.49.

In related news, Director Robert E. Beauchamp acquired 1,162 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were acquired at an average price of $171.99 per share, with a total value of $199,852.38. Following the acquisition, the director now owns 4,303 shares of the company’s stock, valued at approximately $740,072.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Wesley D. Kremer sold 1,010 shares of the stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $163.10, for a total value of $164,731.00. Following the sale, the vice president now directly owns 23,136 shares in the company, valued at approximately $3,773,481.60. The disclosure for this sale can be found here. Insiders have sold a total of 15,911 shares of company stock worth $2,580,752 in the last three months. 0.19% of the stock is currently owned by insiders.

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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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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