Grandview Asset Management LLC lessened its position in shares of Raytheon (NYSE:RTN) by 21.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,927 shares of the aerospace company’s stock after selling 2,910 shares during the period. Raytheon accounts for 1.8% of Grandview Asset Management LLC’s holdings, making the stock its 14th biggest holding. Grandview Asset Management LLC’s holdings in Raytheon were worth $1,900,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RTN. Alpha Omega Wealth Management LLC bought a new stake in Raytheon in the first quarter valued at $25,000. WP Advisors LLC bought a new stake in Raytheon in the first quarter valued at $26,000. Farmers National Bank acquired a new position in shares of Raytheon during the first quarter valued at about $27,000. Semmax Financial Advisors Inc. grew its holdings in shares of Raytheon by 148.6% during the first quarter. Semmax Financial Advisors Inc. now owns 174 shares of the aerospace company’s stock valued at $32,000 after buying an additional 104 shares during the last quarter. Finally, Destination Wealth Management grew its holdings in shares of Raytheon by 670.8% during the first quarter. Destination Wealth Management now owns 185 shares of the aerospace company’s stock valued at $34,000 after buying an additional 161 shares during the last quarter. 74.24% of the stock is owned by institutional investors and hedge funds.

In related news, VP Wesley D. Kremer sold 8,186 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $185.00, for a total transaction of $1,514,410.00. Following the transaction, the vice president now directly owns 29,175 shares in the company, valued at $5,397,375. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Randa G. Newsome sold 10,000 shares of the business’s stock in a transaction dated 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 transaction, 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. 0.18% of the stock is currently owned by insiders.

A number of research analysts have recently issued reports on the stock. Buckingham Research cut shares of Westinghouse Air Brake Technologies from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $93.00 to $81.00 in a report on Monday, June 24th. Zacks Investment Research upgraded shares of Triple-S Management from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Monday, April 29th. Vertical Research cut shares of Raytheon from a “buy” rating to a “hold” rating and reduced their price objective for the company from $216.00 to $203.00 in a report on Tuesday, June 11th. Stifel Nicolaus lifted their price objective on shares of Raytheon from $205.00 to $218.00 and gave the company a “buy” rating in a report on Monday, June 10th. 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 given a hold rating and ten have assigned a buy rating to the company. Raytheon presently has an average rating of “Buy” and a consensus price target of $209.80.

Raytheon stock traded down $2.84 during midday trading on Friday, hitting $189.79. 1,623,583 shares of the stock were exchanged, compared to its average volume of 2,132,567. Raytheon has a 52-week low of $144.27 and a 52-week high of $210.89. The company has a market capitalization of $53.91 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 1.48 and a beta of 0.87. The stock’s 50-day simple moving average is $178.64. The company has a quick ratio of 1.31, a current ratio of 1.46 and a debt-to-equity ratio of 0.41.

Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, July 25th. The aerospace company reported $2.92 earnings per share for the quarter, topping the consensus estimate of $2.61 by $0.31. Raytheon had a net margin of 10.96% and a return on equity of 26.34%. The business had revenue of $7.16 billion for the quarter, compared to analysts’ expectations of $7.02 billion. During the same period in the previous year, the company earned $2.45 earnings per share. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, analysts predict that Raytheon will post 11.59 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Tuesday, July 9th. Raytheon’s dividend payout ratio (DPR) is presently 35.53%.

Raytheon Profile

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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