Raytheon (RTN) Stake Lessened by Blue Chip Partners Inc.

Blue Chip Partners Inc. cut its stake in Raytheon (NYSE:RTN) by 17.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,480 shares of the aerospace company’s stock after selling 4,612 shares during the quarter. Blue Chip Partners Inc.’s holdings in Raytheon were worth $4,439,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Addison Capital Co lifted its stake in Raytheon by 16.1% in the 3rd quarter. Addison Capital Co now owns 1,799 shares of the aerospace company’s stock worth $372,000 after purchasing an additional 250 shares in the last quarter. Strategic Advisors LLC lifted its stake in Raytheon by 21.8% in the 2nd quarter. Strategic Advisors LLC now owns 1,532 shares of the aerospace company’s stock worth $296,000 after purchasing an additional 274 shares in the last quarter. ST Germain D J Co. Inc. lifted its stake in Raytheon by 16.5% in the 2nd quarter. ST Germain D J Co. Inc. now owns 1,941 shares of the aerospace company’s stock worth $375,000 after purchasing an additional 275 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Raytheon by 2.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 10,102 shares of the aerospace company’s stock worth $1,952,000 after purchasing an additional 283 shares in the last quarter. Finally, Argus Investors Counsel Inc. increased its holdings in shares of Raytheon by 18.3% during the 3rd quarter. Argus Investors Counsel Inc. now owns 1,827 shares of the aerospace company’s stock worth $378,000 after buying an additional 283 shares during the last quarter. 72.98% of the stock is currently owned by hedge funds and other institutional investors.

In related news, VP Taylor W. Lawrence sold 3,299 shares of Raytheon stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $199.41, for a total value of $657,853.59. Following the completion of the sale, the vice president now owns 44,220 shares in the company, valued at approximately $8,817,910.20. The transaction 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.



Shares of NYSE RTN traded down $1.31 during midday trading on Friday, reaching $175.21. 1,931,025 shares of the stock were exchanged, compared to its average volume of 1,745,654. Raytheon has a twelve month low of $174.19 and a twelve month high of $229.75. 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 capitalization of $54.51 billion, a P/E ratio of 22.99, a P/E/G ratio of 1.46 and a beta of 0.68.

Raytheon (NYSE:RTN) last posted its earnings results on Thursday, October 25th. The aerospace company reported $2.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.28. Raytheon had a net margin of 9.24% and a return on equity of 24.01%. The firm had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter last year, the firm earned $1.97 EPS. As a group, research analysts expect that Raytheon will post 9.93 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 8th. Investors of record on Wednesday, October 10th will be issued a $0.8675 dividend. The ex-dividend date is Tuesday, October 9th. This represents a $3.47 annualized dividend and a yield of 1.98%. Raytheon’s dividend payout ratio (DPR) is presently 45.54%.

A number of analysts have recently issued reports on RTN shares. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $233.00 price target for the company in a report on Wednesday, October 3rd. UBS Group started coverage on shares of Raytheon in a report on Wednesday, August 15th. They set a “buy” rating and a $250.00 price target for the company. Stifel Nicolaus cut their price target on shares of Raytheon from $235.00 to $230.00 and set a “buy” rating for the company in a report on Friday, July 27th. Morgan Stanley cut their price target on shares of Raytheon from $239.00 to $228.00 and set an “overweight” rating for the company in a report on Thursday, July 12th. Finally, Bank of America cut their price target on shares of Raytheon from $245.00 to $230.00 and set a “buy” rating for the company in a report on Friday. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $229.14.

Raytheon Company 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.

Recommended Story: Technical Analysis

Want to see what other hedge funds are holding RTN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raytheon (NYSE:RTN).

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

Receive News & Ratings for Raytheon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply