Dynamic Advisors Solutions LLC Sells 19 Shares of Raytheon Company (RTN)
Dynamic Advisors Solutions LLC cut its stake in shares of Raytheon Company (NYSE:RTN) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,662 shares of the aerospace company’s stock after selling 19 shares during the period. Dynamic Advisors Solutions LLC’s holdings in Raytheon were worth $1,237,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. State of Alaska Department of Revenue purchased a new stake in shares of Raytheon during the first quarter worth about $413,000. Chelsea Counsel Co. increased its stake in shares of Raytheon by 1.8% in the first quarter. Chelsea Counsel Co. now owns 14,395 shares of the aerospace company’s stock worth $2,195,000 after buying an additional 260 shares during the period. Motco increased its stake in shares of Raytheon by 11,708.2% in the first quarter. Motco now owns 31,646 shares of the aerospace company’s stock worth $4,826,000 after buying an additional 31,378 shares during the period. Retirement Systems of Alabama increased its stake in shares of Raytheon by 1.2% in the first quarter. Retirement Systems of Alabama now owns 329,361 shares of the aerospace company’s stock worth $50,228,000 after buying an additional 3,746 shares during the period. Finally, Cape Cod Five Cents Savings Bank purchased a new stake in shares of Raytheon during the first quarter worth about $1,087,000. 74.72% of the stock is currently owned by institutional investors and hedge funds.
Raytheon Company (NYSE RTN) traded up 0.02% during trading on Friday, reaching $178.03. 792,062 shares of the company’s stock traded hands. Raytheon Company has a one year low of $132.89 and a one year high of $181.05. The firm’s 50 day moving average price is $172.80 and its 200-day moving average price is $160.80. The stock has a market cap of $51.67 billion, a P/E ratio of 24.59 and a beta of 0.59.
Raytheon (NYSE:RTN) last released its earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.15. The firm had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.24 billion. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. Raytheon’s revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.38 earnings per share. On average, equities analysts anticipate that Raytheon Company will post $7.59 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on RTN. BidaskClub raised shares of Raytheon from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 12th. Buckingham Research increased their price target on shares of Raytheon from $190.00 to $199.00 and gave the stock a “buy” rating in a report on Friday, August 11th. Argus reissued a “buy” rating and set a $195.00 price target (up from $175.00) on shares of Raytheon in a report on Friday, August 4th. Morgan Stanley began coverage on shares of Raytheon in a report on Tuesday, August 8th. They set an “equal weight” rating and a $188.00 price target on the stock. Finally, Cowen and Company reissued an “outperform” rating and set a $189.00 price target (up from $182.00) on shares of Raytheon in a report on Thursday, August 10th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $183.01.
In related news, Director Vernon E. Clark sold 829 shares of Raytheon stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $180.19, for a total transaction of $149,377.51. Following the transaction, the director now directly owns 7,588 shares of the company’s stock, valued at $1,367,281.72. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert E. Beauchamp bought 1,162 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were purchased at an average cost of $171.99 per share, for a total transaction of $199,852.38. Following the completion of the acquisition, the director now owns 4,303 shares of the company’s stock, valued at $740,072.97. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 16,740 shares of company stock worth $2,730,129. 0.19% of the stock is owned by corporate insiders.
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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