USA Mutuals Advisors Inc. trimmed its holdings in shares of Raytheon (NYSE:RTN) by 11.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,300 shares of the aerospace company’s stock after selling 4,500 shares during the period. Raytheon comprises 5.7% of USA Mutuals Advisors Inc.’s investment portfolio, making the stock its 9th largest position. USA Mutuals Advisors Inc.’s holdings in Raytheon were worth $6,312,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Geode Capital Management LLC increased its stake in Raytheon by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 3,729,683 shares of the aerospace company’s stock worth $570,952,000 after buying an additional 186,460 shares in the last quarter. USS Investment Management Ltd boosted its holdings in shares of Raytheon by 5.7% during the 1st quarter. USS Investment Management Ltd now owns 1,527,946 shares of the aerospace company’s stock valued at $278,193,000 after purchasing an additional 82,955 shares during the last quarter. Cambridge Trust Co. boosted its holdings in shares of Raytheon by 4.8% during the 1st quarter. Cambridge Trust Co. now owns 6,792 shares of the aerospace company’s stock valued at $1,236,000 after purchasing an additional 311 shares during the last quarter. Regent Investment Management LLC bought a new position in shares of Raytheon during the 1st quarter valued at about $200,000. Finally, Bay Harbor Wealth Management LLC boosted its holdings in shares of Raytheon by 97.3% during the 1st quarter. Bay Harbor Wealth Management LLC now owns 515 shares of the aerospace company’s stock valued at $94,000 after purchasing an additional 254 shares during the last quarter. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:RTN traded up $0.20 during trading on Wednesday, reaching $185.64. The company’s stock had a trading volume of 23,978 shares, compared to its average volume of 1,767,758. The company has a current ratio of 1.46, a quick ratio of 1.35 and a debt-to-equity ratio of 0.41. Raytheon has a 12 month low of $144.27 and a 12 month high of $210.89. The firm’s 50 day simple moving average is $180.52 and its two-hundred day simple moving average is $180.18. The stock has a market capitalization of $51.81 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 1.42 and a beta of 0.86.

Raytheon (NYSE:RTN) last announced its quarterly earnings results on Thursday, July 25th. The aerospace company reported $2.92 EPS for the quarter, beating the Zacks’ consensus estimate of $2.61 by $0.31. Raytheon had a net margin of 10.96% and a return on equity of 26.34%. The firm had revenue of $7.16 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter last year, the firm earned $2.45 EPS. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. Research analysts anticipate that Raytheon will post 11.73 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a $0.9425 dividend. This represents a $3.77 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend was Tuesday, July 9th. Raytheon’s payout ratio is 35.53%.

In related news, VP Randa G. Newsome sold 10,000 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $185.01, for a total value of $1,850,100.00. Following the completion of the transaction, the vice president now owns 20,396 shares of the company’s stock, valued at approximately $3,773,463.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Wesley D. Kremer sold 8,186 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $185.00, for a total transaction of $1,514,410.00. Following the completion of the transaction, the vice president now directly owns 29,175 shares of the company’s stock, valued at approximately $5,397,375. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Several research analysts have commented on RTN shares. ValuEngine downgraded shares of Raytheon from a “hold” rating to a “sell” rating in a report on Friday, June 28th. Buckingham Research downgraded shares of Raytheon from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $265.00 to $195.00 in a report on Monday, June 24th. Stifel Nicolaus increased their price objective on shares of Raytheon from $205.00 to $218.00 and gave the company a “buy” rating in a report on Monday, June 10th. Bank of America reissued a “buy” rating and set a $265.00 price objective (up previously from $224.00) on shares of Raytheon in a report on Friday, July 26th. Finally, Wolfe Research set a $205.00 price objective on shares of Raytheon and gave the company a “buy” rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $209.80.

Raytheon Profile

Raytheon Company develops integrated products, services, and solutions for the defense and other government markets worldwide. It operates through five segments: Integrated Defense Systems (IDS); Intelligence, Information and Services (IIS); Missile Systems (MS); Space and Airborne Systems (SAS); and Forcepoint.

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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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