KCG Holdings Inc. decreased its stake in shares of Raytheon Company (NYSE:RTN) by 83.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,760 shares of the aerospace company’s stock after selling 18,790 shares during the period. KCG Holdings Inc.’s holdings in Raytheon were worth $573,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Raytheon by 2,166.0% in the first quarter. BlackRock Inc. now owns 19,407,819 shares of the aerospace company’s stock valued at $2,959,694,000 after buying an additional 18,551,353 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Raytheon by 4.7% in the first quarter. Vanguard Group Inc. now owns 21,910,520 shares of the aerospace company’s stock valued at $3,341,355,000 after buying an additional 989,986 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Raytheon by 66.5% in the first quarter. Renaissance Technologies LLC now owns 1,289,200 shares of the aerospace company’s stock valued at $196,603,000 after buying an additional 514,800 shares during the last quarter. MARSHALL WACE ASIA Ltd acquired a new stake in shares of Raytheon during the first quarter valued at $58,030,000. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Raytheon during the first quarter valued at $58,030,000. Hedge funds and other institutional investors own 74.72% of the company’s stock.
Shares of Raytheon Company (NYSE RTN) traded down 0.20% during trading on Friday, hitting $176.90. The stock had a trading volume of 1,096,760 shares. The stock has a market capitalization of $51.34 billion, a P/E ratio of 24.43 and a beta of 0.59. The stock’s 50-day moving average is $170.94 and its 200-day moving average is $159.65. Raytheon Company has a 12-month low of $132.89 and a 12-month high of $181.05.
Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.15. The business had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.24 billion. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.38 earnings per share. Analysts predict that Raytheon Company will post $7.59 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 3rd. Investors of record on Wednesday, July 5th were paid a $0.7975 dividend. This represents a $3.19 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Friday, June 30th. Raytheon’s dividend payout ratio (DPR) is currently 43.94%.
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Several analysts recently weighed in on RTN shares. Zacks Investment Research downgraded Raytheon from a “buy” rating to a “hold” rating in a research note on Friday, May 19th. Vetr downgraded Raytheon from a “buy” rating to a “hold” rating and set a $166.27 price objective for the company. in a research report on Tuesday, May 9th. Deutsche Bank AG raised their price objective on Raytheon from $156.00 to $160.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Royal Bank Of Canada reiterated a “buy” rating and issued a $181.00 price objective on shares of Raytheon in a research report on Friday, June 2nd. Finally, BidaskClub upgraded Raytheon from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Raytheon currently has a consensus rating of “Buy” and an average target price of $183.01.
In related news, Director Robert E. Beauchamp purchased 1,162 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was acquired at an average cost of $171.99 per share, for a total transaction of $199,852.38. Following the completion of the purchase, the director now owns 4,303 shares in the company, valued at approximately $740,072.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Michael J. Wood sold 1,442 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $162.98, for a total value of $235,017.16. Following the completion of the sale, the chief accounting officer now owns 18,470 shares of the company’s stock, valued at $3,010,240.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,740 shares of company stock valued at $2,730,129. 0.19% of the stock is currently owned by corporate insiders.
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.
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