Raytheon Company (RTN) Shares Sold by Private Bank & Trust Co.

Private Bank & Trust Co. cut its position in Raytheon Company (NYSE:RTN) by 4.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,549 shares of the aerospace company’s stock after selling 262 shares during the period. Private Bank & Trust Co.’s holdings in Raytheon were worth $897,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in RTN. Quadrature Capital Ltd increased its stake in shares of Raytheon by 63.9% in the fourth quarter. Quadrature Capital Ltd now owns 4,837 shares of the aerospace company’s stock valued at $687,000 after buying an additional 1,886 shares during the last quarter. Manning & Napier Advisors LLC boosted its position in shares of Raytheon by 3.2% in the first quarter. Manning & Napier Advisors LLC now owns 50,568 shares of the aerospace company’s stock worth $7,711,000 after buying an additional 1,546 shares during the last quarter. Fulton Bank N.A. boosted its position in shares of Raytheon by 27.6% in the first quarter. Fulton Bank N.A. now owns 1,926 shares of the aerospace company’s stock worth $294,000 after buying an additional 417 shares during the last quarter. Osborn Williams & Donohoe LLC boosted its position in shares of Raytheon by 45.2% in the first quarter. Osborn Williams & Donohoe LLC now owns 2,542 shares of the aerospace company’s stock worth $388,000 after buying an additional 791 shares during the last quarter. Finally, Raymond James Trust N.A. boosted its position in shares of Raytheon by 5.0% in the first quarter. Raymond James Trust N.A. now owns 12,219 shares of the aerospace company’s stock worth $1,863,000 after buying an additional 580 shares during the last quarter. Hedge funds and other institutional investors own 74.72% of the company’s stock.

Raytheon Company (NYSE RTN) opened at 177.25 on Friday. The firm’s 50-day moving average price is $170.47 and its 200-day moving average price is $159.43. Raytheon Company has a 52-week low of $132.89 and a 52-week high of $181.05. The company has a market cap of $51.45 billion, a price-to-earnings ratio of 24.48 and a beta of 0.59.

Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.15. The company had revenue of $6.28 billion during the quarter, compared to the consensus estimate of $6.24 billion. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. Raytheon’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.38 earnings per share. On average, equities analysts anticipate that Raytheon Company will post $7.59 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Shareholders of record on Wednesday, July 5th were issued a $0.7975 dividend. This represents a $3.19 annualized dividend and a yield of 1.80%. The ex-dividend date was Friday, June 30th. Raytheon’s dividend payout ratio is currently 43.94%.

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Several equities analysts have recently issued reports on RTN shares. Stifel Nicolaus boosted their target price on Raytheon from $160.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Deutsche Bank AG upped their price objective on Raytheon from $156.00 to $160.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $175.00 price objective on the stock in a research note on Monday, May 1st. Vetr lowered Raytheon from a “buy” rating to a “hold” rating and set a $166.27 target price on the stock. in a report on Tuesday, May 9th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $172.00 target price on shares of Raytheon in a report on Tuesday, May 23rd. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $183.01.

In other news, VP Wesley D. Kremer sold 1,010 shares of the business’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $163.10, for a total transaction of $164,731.00. Following the sale, the vice president now directly owns 23,136 shares of the company’s stock, valued at $3,773,481.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Vernon E. Clark sold 829 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $180.19, for a total transaction of $149,377.51. Following the completion of the sale, the director now directly owns 7,588 shares in the company, valued at $1,367,281.72. The disclosure for this sale can be found here. Insiders sold 16,740 shares of company stock worth $2,730,129 over the last ninety days. Corporate insiders own 0.19% of the company’s stock.

Raytheon Company Profile

Raytheon Company is a technology company, which specializes in defense and other government markets. The Company develops integrated products, services and solutions in various markets, including sensing; effects; command, control, communications, computers, cyber and intelligence; mission support, and cybersecurity.