Schafer Cullen Capital Management Inc. lowered its holdings in Raytheon Company (NYSE:RTN) by 6.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 674,102 shares of the aerospace company’s stock after selling 47,486 shares during the period. Raytheon accounts for 1.4% of Schafer Cullen Capital Management Inc.’s investment portfolio, making the stock its 29th biggest position. Schafer Cullen Capital Management Inc. owned about 0.23% of Raytheon worth $108,854,000 as of its most recent SEC filing.

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

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Raytheon Company (RTN) opened at 180.20 on Wednesday. The company has a 50 day moving average price of $185.54 and a 200 day moving average price of $171.42. The firm has a market cap of $52.30 billion, a PE ratio of 24.89 and a beta of 0.59. Raytheon Company has a 1-year low of $132.89 and a 1-year high of $190.25.

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

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

RTN has been the subject of a number of research reports. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $204.00 price target for the company in a research report on Thursday, September 14th. ValuEngine raised Raytheon from a “hold” rating to a “buy” rating in a research report on Monday, September 11th. Royal Bank Of Canada set a $193.00 price target on Raytheon and gave the company a “buy” rating in a research report on Monday, August 28th. Citigroup Inc. restated a “buy” rating and set a $215.00 price objective (up previously from $192.00) on shares of Raytheon in a research note on Monday, October 9th. Finally, Vetr cut Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price objective on the stock. in a research note on Wednesday, August 30th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $199.24.

In other news, VP Frank R. Jimenez sold 650 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $187.27, for a total value of $121,725.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Frank R. Jimenez sold 500 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $181.94, for a total value of $90,970.00. Following the completion of the sale, the vice president now directly owns 29,292 shares in the company, valued at $5,329,386.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,770 shares of company stock worth $1,052,376. 0.19% of the stock is currently owned by company insiders.

Raytheon 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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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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