Tdam USA Inc. trimmed its stake in shares of Raytheon (NYSE:RTN) by 16.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,098 shares of the aerospace company’s stock after selling 4,227 shares during the period. Tdam USA Inc.’s holdings in Raytheon were worth $3,842,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Country Club Trust Company n.a. lifted its position in shares of Raytheon by 7.4% during the second quarter. Country Club Trust Company n.a. now owns 46,543 shares of the aerospace company’s stock worth $8,093,000 after purchasing an additional 3,216 shares in the last quarter. Clarius Group LLC acquired a new position in Raytheon in the first quarter valued at approximately $233,000. Tredje AP fonden lifted its holdings in Raytheon by 1.0% in the first quarter. Tredje AP fonden now owns 23,343 shares of the aerospace company’s stock valued at $4,250,000 after buying an additional 227 shares during the period. Brandywine Oak Private Wealth LLC lifted its holdings in Raytheon by 44.9% in the first quarter. Brandywine Oak Private Wealth LLC now owns 3,258 shares of the aerospace company’s stock valued at $593,000 after buying an additional 1,010 shares during the period. Finally, Baldwin Investment Management LLC lifted its holdings in Raytheon by 38.3% in the first quarter. Baldwin Investment Management LLC now owns 4,335 shares of the aerospace company’s stock valued at $789,000 after buying an additional 1,200 shares during the period. Institutional investors own 74.71% of the company’s stock.

RTN traded down $5.59 during mid-day trading on Wednesday, hitting $178.01. The stock had a trading volume of 33,927 shares, compared to its average volume of 1,982,296. The business’s fifty day simple moving average is $180.01. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.46 and a quick ratio of 1.35. The firm has a market cap of $50.77 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 1.50 and a beta of 0.86. Raytheon has a 1-year low of $144.27 and a 1-year high of $210.89.

Raytheon (NYSE:RTN) last posted its 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. The company had revenue of $7.16 billion for the quarter, compared to analyst estimates of $7.02 billion. Raytheon had a net margin of 10.96% and a return on equity of 26.34%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the business posted $2.45 earnings per share. As a group, analysts forecast that Raytheon will post 11.69 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a $0.9425 dividend. 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 presently 35.53%.

Several brokerages recently weighed in on RTN. ValuEngine lowered shares of Raytheon from a “hold” rating to a “sell” rating in a report on Friday, June 28th. Zacks Investment Research lowered shares of Raytheon from a “buy” rating to a “hold” rating in a report on Monday, April 29th. Jefferies Financial Group increased their price objective on shares of Raytheon from $202.00 to $216.00 and gave the company a “buy” rating in a report on Monday, May 6th. Vertical Research lowered shares of 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 shares of Raytheon and gave the company a “buy” rating in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $209.80.

In other Raytheon news, VP Wesley D. Kremer sold 8,186 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $185.00, for a total value of $1,514,410.00. Following the sale, the vice president now directly owns 29,175 shares in the company, valued at $5,397,375. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Randa G. Newsome sold 10,000 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $185.01, for a total transaction of $1,850,100.00. Following the completion of the sale, the vice president now owns 20,396 shares in the company, valued at $3,773,463.96. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

About Raytheon

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.

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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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