Rehmann Capital Advisory Group lifted its stake in Raytheon (NYSE:RTN) by 17.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,014 shares of the aerospace company’s stock after buying an additional 728 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Raytheon were worth $969,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of RTN. Rainier Group Investment Advisory LLC purchased a new position in Raytheon during the first quarter worth approximately $103,000. Squar Milner Financial Services LLC purchased a new position in Raytheon during the second quarter worth approximately $100,000. Clarus Wealth Advisors purchased a new position in Raytheon during the second quarter worth approximately $113,000. Fort L.P. purchased a new position in Raytheon during the second quarter worth approximately $117,000. Finally, Stelac Advisory Services LLC purchased a new position in Raytheon during the first quarter worth approximately $136,000. Hedge funds and other institutional investors own 72.85% of the company’s stock.

Shares of NYSE:RTN traded up $0.70 during midday trading on Friday, hitting $191.69. The company had a trading volume of 1,486,629 shares, compared to its average volume of 1,732,760. Raytheon has a twelve month low of $179.29 and a twelve month high of $229.75. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.51 and a current ratio of 1.61. The stock has a market cap of $58.95 billion, a PE ratio of 25.16, a P/E/G ratio of 1.58 and a beta of 0.68.

Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, July 26th. The aerospace company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.32 by $0.46. Raytheon had a return on equity of 24.01% and a net margin of 9.24%. The firm had revenue of $6.63 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same quarter last year, the firm earned $1.98 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, analysts predict that Raytheon will post 9.93 earnings per share for the current fiscal year.

The business also recently declared 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 of this dividend is Tuesday, October 9th. This represents a $3.47 annualized dividend and a dividend yield of 1.81%. Raytheon’s dividend payout ratio is presently 45.54%.

A number of equities analysts have issued reports on RTN shares. Stifel Nicolaus lowered their price target on Raytheon from $235.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, July 27th. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $224.00 target price for the company in a report on Wednesday, July 18th. UBS Group initiated coverage on Raytheon in a report on Wednesday, August 15th. They set a “buy” rating and a $250.00 target price for the company. ValuEngine cut Raytheon from a “buy” rating to a “hold” rating in a report on Friday, June 15th. Finally, Morgan Stanley reduced their target price on Raytheon from $239.00 to $228.00 and set an “overweight” rating for the company in a report on Thursday, July 12th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $228.43.

In other Raytheon news, VP Taylor W. Lawrence sold 3,299 shares of the firm’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $199.41, for a total transaction of $657,853.59. Following the completion of the sale, the vice president now owns 44,220 shares of the company’s stock, valued at $8,817,910.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.19% of the stock is currently owned by company insiders.

About Raytheon

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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