Eagle Ridge Investment Management Reduces Stock Holdings in Raytheon (NYSE:RTN)

Eagle Ridge Investment Management reduced its stake in Raytheon (NYSE:RTN) by 3.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,669 shares of the aerospace company’s stock after selling 1,684 shares during the period. Eagle Ridge Investment Management’s holdings in Raytheon were worth $7,941,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. HNP Capital LLC boosted its holdings in shares of Raytheon by 0.6% in the first quarter. HNP Capital LLC now owns 9,030 shares of the aerospace company’s stock valued at $1,644,000 after acquiring an additional 57 shares during the period. Wright Investors Service Inc. boosted its holdings in shares of Raytheon by 0.7% in the second quarter. Wright Investors Service Inc. now owns 8,826 shares of the aerospace company’s stock valued at $1,534,000 after acquiring an additional 57 shares during the period. Weatherly Asset Management L. P. boosted its holdings in shares of Raytheon by 0.4% in the first quarter. Weatherly Asset Management L. P. now owns 14,960 shares of the aerospace company’s stock valued at $2,724,000 after acquiring an additional 63 shares during the period. Altfest L J & Co. Inc. boosted its holdings in shares of Raytheon by 0.8% in the second quarter. Altfest L J & Co. Inc. now owns 7,933 shares of the aerospace company’s stock valued at $1,379,000 after acquiring an additional 64 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Raytheon by 3.3% in the second quarter. Sequoia Financial Advisors LLC now owns 1,991 shares of the aerospace company’s stock valued at $346,000 after acquiring an additional 64 shares during the period. Institutional investors own 74.71% of the company’s stock.

In related news, 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 directly owns 20,396 shares of the company’s stock, valued at $3,773,463.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Wesley D. Kremer sold 8,186 shares of the stock in a transaction on Friday, June 7th. The stock was 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 of the company’s stock, valued at $5,397,375. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.



Shares of NYSE RTN traded down $0.08 during mid-day trading on Thursday, hitting $178.38. 49,141 shares of the company were exchanged, compared to its average volume of 1,920,966. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.35 and a current ratio of 1.46. The business’s 50 day moving average is $179.97. Raytheon has a 1-year low of $144.27 and a 1-year high of $210.89. The company has a market capitalization of $49.44 billion, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 1.47 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 firm had revenue of $7.16 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same period last year, the company earned $2.45 earnings per share. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities analysts anticipate that Raytheon will post 11.71 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Tuesday, July 9th. Raytheon’s dividend payout ratio is presently 35.53%.

Several research firms have recently weighed in on RTN. Wolfe Research set a $205.00 price objective on Raytheon and gave the company a “buy” rating in a report on Friday, April 26th. Zacks Investment Research downgraded Raytheon from a “buy” rating to a “hold” rating in a report on Monday, April 29th. Jefferies Financial Group increased 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. ValuEngine downgraded Raytheon from a “hold” rating to a “sell” rating in a report on Friday, June 28th. Finally, Bank of America reissued a “buy” rating and issued a $265.00 price objective (up from $224.00) on shares of Raytheon in a report on Friday, July 26th. One research 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’s stock. The company currently has an average rating of “Buy” and a consensus price target of $209.80.

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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