Garcia Hamilton & Associates LP DE cut its stake in Raytheon Company (NYSE:RTN) by 37.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,434 shares of the aerospace company’s stock after selling 3,298 shares during the quarter. Raytheon makes up approximately 1.2% of Garcia Hamilton & Associates LP DE’s investment portfolio, making the stock its 24th largest position. Garcia Hamilton & Associates LP DE’s holdings in Raytheon were worth $877,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. OxFORD Asset Management LLP increased its position in shares of Raytheon by 238.8% in the second quarter. OxFORD Asset Management LLP now owns 51,452 shares of the aerospace company’s stock valued at $8,308,000 after buying an additional 36,265 shares in the last quarter. National Pension Service increased its position in shares of Raytheon by 12.1% in the second quarter. National Pension Service now owns 248,655 shares of the aerospace company’s stock valued at $39,892,000 after buying an additional 26,830 shares in the last quarter. Abner Herrman & Brock LLC increased its position in shares of Raytheon by 8.2% in the second quarter. Abner Herrman & Brock LLC now owns 77,617 shares of the aerospace company’s stock valued at $12,534,000 after buying an additional 5,866 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its position in shares of Raytheon by 13.9% in the second quarter. Kornitzer Capital Management Inc. KS now owns 6,720 shares of the aerospace company’s stock valued at $1,085,000 after buying an additional 820 shares in the last quarter. Finally, Appleton Partners Inc. MA increased its position in shares of Raytheon by 13.7% in the second quarter. Appleton Partners Inc. MA now owns 8,345 shares of the aerospace company’s stock valued at $1,348,000 after buying an additional 1,005 shares in the last quarter. 73.80% of the stock is owned by institutional investors.

In other Raytheon news, Director Vernon E. Clark sold 829 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $180.19, for a total transaction of $149,377.51. Following the completion of the transaction, the director now owns 7,588 shares of the company’s stock, valued at $1,367,281.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Frank R. Jimenez sold 650 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $187.27, for a total value of $121,725.50. The disclosure for this sale can be found here. Insiders have sold 5,770 shares of company stock valued at $1,052,376 in the last three months. 0.19% of the stock is currently owned by company insiders.

Shares of Raytheon Company (NYSE RTN) opened at 180.20 on Wednesday. The stock has a market capitalization of $52.30 billion, a PE ratio of 24.89 and a beta of 0.59. The firm has a 50-day moving average price of $185.54 and a 200 day moving average price of $171.42. Raytheon Company has a one year low of $132.89 and a one year high of $190.25.

Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, October 26th. The aerospace company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.07. The firm had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.33 billion. Raytheon had a return on equity of 20.98% and a net margin of 8.77%. Raytheon’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.79 earnings per share. On average, equities analysts expect that Raytheon Company will post $7.61 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Thursday, October 12th will be given a dividend of $0.7975 per share. This represents a $3.19 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Wednesday, October 11th. Raytheon’s payout ratio is 42.88%.

ILLEGAL ACTIVITY WARNING: “Garcia Hamilton & Associates LP DE Has $877,000 Holdings in Raytheon Company (RTN)” was published by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this story on another publication, it was illegally stolen and reposted in violation of United States & international copyright & trademark laws. The legal version of this story can be accessed at https://theolympiareport.com/2017/11/01/garcia-hamilton-associates-lp-de-has-877000-holdings-in-raytheon-company-rtn.html.

RTN has been the subject of a number of recent analyst reports. Vetr cut Raytheon from a “buy” rating to a “hold” rating and set a $170.66 price objective for the company. in a research report on Wednesday, July 5th. BidaskClub upgraded Raytheon from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Zacks Investment Research cut Raytheon from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Sanford C. Bernstein restated an “outperform” rating and issued a $183.00 price objective (up from $180.00) on shares of Raytheon in a research report on Sunday, July 30th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $185.00 price objective (up from $175.00) on shares of Raytheon in a research report on Sunday, July 30th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $199.24.

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.

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

Receive News & Ratings for Raytheon Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon Company and related companies with Analyst Ratings Network's FREE daily email newsletter.