Auxier Asset Management Sells 1,000 Shares of Raytheon (RTN)

Auxier Asset Management lowered its stake in Raytheon (NYSE:RTN) by 7.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,500 shares of the aerospace company’s stock after selling 1,000 shares during the quarter. Auxier Asset Management’s holdings in Raytheon were worth $2,415,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its stake in shares of Raytheon by 2.5% in the 1st quarter. Victory Capital Management Inc. now owns 23,752 shares of the aerospace company’s stock valued at $5,126,000 after purchasing an additional 577 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Raytheon by 14.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,823 shares of the aerospace company’s stock valued at $609,000 after purchasing an additional 353 shares during the period. First Mercantile Trust Co. lifted its stake in shares of Raytheon by 136.3% in the 1st quarter. First Mercantile Trust Co. now owns 2,835 shares of the aerospace company’s stock valued at $612,000 after purchasing an additional 1,635 shares during the period. Boulegeris Investments Inc. lifted its stake in shares of Raytheon by 7.9% in the 1st quarter. Boulegeris Investments Inc. now owns 13,685 shares of the aerospace company’s stock valued at $2,954,000 after purchasing an additional 1,005 shares during the period. Finally, Pittenger & Anderson Inc. lifted its stake in shares of Raytheon by 4.2% in the 1st quarter. Pittenger & Anderson Inc. now owns 38,010 shares of the aerospace company’s stock valued at $8,203,000 after purchasing an additional 1,515 shares during the period. 72.85% of the stock is currently owned by institutional investors and hedge funds.

In other news, VP Taylor W. Lawrence sold 3,299 shares of the company’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $199.41, for a total transaction of $657,853.59. Following the completion of the sale, the vice president now owns 44,220 shares of the company’s stock, valued at $8,817,910.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is owned by corporate insiders.

RTN has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $224.00 target price for the company in a research note on Wednesday, July 18th. UBS Group initiated coverage on shares of Raytheon in a research note on Wednesday, August 15th. They issued a “buy” rating and a $250.00 target price for the company. Stifel Nicolaus decreased their target price on shares of Raytheon from $235.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, July 27th. Morgan Stanley decreased their target price on shares of Raytheon from $239.00 to $228.00 and set an “overweight” rating for the company in a research note on Thursday, July 12th. Finally, ValuEngine lowered shares of Raytheon from a “buy” rating to a “hold” rating in a report on Friday, June 15th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $228.33.

NYSE RTN traded down $1.46 on Friday, hitting $206.75. The company had a trading volume of 1,097,162 shares, compared to its average volume of 1,735,077. The firm has a market cap of $58.95 billion, a PE ratio of 27.13, a PEG ratio of 1.58 and a beta of 0.68. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.51 and a current ratio of 1.61. Raytheon has a 12-month low of $179.29 and a 12-month high of $229.75.

Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, July 26th. The aerospace company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.32 by $0.46. Raytheon had a net margin of 9.24% and a return on equity of 24.01%. The company had revenue of $6.63 billion during the quarter, compared to analyst estimates of $6.51 billion. During the same quarter in the previous year, the firm earned $1.98 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. On average, equities analysts predict that Raytheon will post 9.93 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 8th. Stockholders of record on Wednesday, October 10th will be issued a dividend of $0.8675 per share. This represents a $3.47 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Tuesday, October 9th. Raytheon’s payout ratio is 45.54%.

About Raytheon

Raytheon Company develops integrated products, services, and solutions for 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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