Lederer & Associates Investment Counsel CA purchased a new stake in shares of Raytheon (NYSE:RTN) in the second quarter, HoldingsChannel reports. The institutional investor purchased 10,180 shares of the aerospace company’s stock, valued at approximately $1,770,000. Raytheon accounts for approximately 1.6% of Lederer & Associates Investment Counsel CA’s holdings, making the stock its 27th largest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Alpha Omega Wealth Management LLC bought a new position in Raytheon during the 1st quarter valued at $25,000. WP Advisors LLC bought a new stake in shares of Raytheon during the 1st quarter worth $26,000. Farmers National Bank bought a new stake in shares of Raytheon during the 1st quarter worth $27,000. Semmax Financial Advisors Inc. boosted its stake in shares of Raytheon by 148.6% during the 1st quarter. Semmax Financial Advisors Inc. now owns 174 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 104 shares in the last quarter. Finally, Destination Wealth Management boosted its stake in shares of Raytheon by 670.8% during the 1st quarter. Destination Wealth Management now owns 185 shares of the aerospace company’s stock worth $34,000 after acquiring an additional 161 shares in the last quarter. 74.24% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently weighed in on RTN. Zacks Investment Research raised Triple-S Management from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Monday, April 29th. ValuEngine lowered WideOpenWest from a “hold” rating to a “sell” rating in a research note on Friday, June 28th. Buckingham Research lowered Westinghouse Air Brake Technologies from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $93.00 to $81.00 in a research note on Monday, June 24th. Vertical Research lowered Raytheon from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $216.00 to $203.00 in a research note on Tuesday, June 11th. Finally, Bank of America reissued a “buy” rating and set a $165.00 price objective (up from $158.00) on shares of Universal Health Services in a research note on Friday. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. Raytheon presently has a consensus rating of “Buy” and an average target price of $209.80.

Shares of Raytheon stock traded down $2.84 during midday trading on Friday, hitting $189.79. The company’s stock had a trading volume of 1,623,583 shares, compared to its average volume of 2,132,567. The stock has a market cap of $53.91 billion, a price-to-earnings ratio of 17.89, a P/E/G ratio of 1.48 and a beta of 0.87. The company’s 50-day simple moving average is $178.64. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.46 and a quick ratio of 1.31. Raytheon has a 1-year low of $144.27 and a 1-year high of $210.89.

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

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

In other news, VP Wesley D. Kremer sold 8,186 shares of the firm’s 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 completion of the sale, the vice president now owns 29,175 shares of the company’s stock, valued at $5,397,375. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Randa G. Newsome sold 10,000 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $185.01, for a total value 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 approximately $3,773,463.96. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

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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