HRT Financial LLC Purchases Shares of 2,192 Raytheon (NYSE:RTN)

HRT Financial LLC bought a new position in shares of Raytheon (NYSE:RTN) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 2,192 shares of the aerospace company’s stock, valued at approximately $423,000.

A number of other hedge funds have also recently added to or reduced their stakes in RTN. Charles Schwab Investment Advisory Inc. acquired a new position in shares of Raytheon during the 2nd quarter worth about $230,415,000. Wells Fargo & Company MN boosted its stake in shares of Raytheon by 45.2% during the 2nd quarter. Wells Fargo & Company MN now owns 2,698,919 shares of the aerospace company’s stock worth $521,378,000 after buying an additional 840,321 shares during the last quarter. Putnam Investments LLC boosted its stake in shares of Raytheon by 49.8% during the 2nd quarter. Putnam Investments LLC now owns 2,154,197 shares of the aerospace company’s stock worth $416,148,000 after buying an additional 716,446 shares during the last quarter. Morgan Stanley boosted its stake in shares of Raytheon by 16.4% during the 2nd quarter. Morgan Stanley now owns 3,268,371 shares of the aerospace company’s stock worth $631,383,000 after buying an additional 461,461 shares during the last quarter. Finally, American Century Companies Inc. acquired a new position in shares of Raytheon during the 2nd quarter worth about $85,666,000. Hedge funds and other institutional investors own 72.85% of the company’s stock.

In other news, VP Taylor W. Lawrence sold 3,299 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $199.41, for a total transaction of $657,853.59. Following the transaction, the vice president now directly owns 44,220 shares of the company’s stock, valued at $8,817,910.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is currently owned by company insiders.

RTN has been the subject of a number of recent research reports. Stifel Nicolaus reduced their price objective on shares of Raytheon from $235.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, July 27th. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $224.00 price objective for the company in a research note on Wednesday, July 18th. UBS Group initiated coverage on shares of Raytheon in a research note on Wednesday, August 15th. They issued a “buy” rating and a $250.00 target price for the company. ValuEngine downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Friday, June 15th. Finally, Morgan Stanley cut their target price on shares of Raytheon from $239.00 to $228.00 and set an “overweight” rating for the company in a research note on Thursday, July 12th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $228.33.

Shares of RTN stock opened at $206.82 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.61 and a quick ratio of 1.51. The company has a market cap of $58.95 billion, a price-to-earnings ratio of 27.15, a P/E/G ratio of 1.58 and a beta of 0.68. Raytheon has a 12-month low of $179.29 and a 12-month high of $229.75.

Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, July 26th. The aerospace company reported $2.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.32 by $0.46. The firm had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $6.51 billion. Raytheon had a net margin of 9.24% and a return on equity of 24.01%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the business posted $1.98 earnings per share. On average, sell-side analysts anticipate that Raytheon will post 9.93 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 8th. Stockholders of record on Wednesday, October 10th will be issued a dividend of $0.8675 per share. The ex-dividend date of this dividend is Tuesday, October 9th. This represents a $3.47 annualized dividend and a dividend yield of 1.68%. Raytheon’s dividend payout ratio is presently 45.54%.

Raytheon Profile

Raytheon Company develops integrated products, services, and solutions for 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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