Raytheon Company (RTN) Shares Sold by Great West Life Assurance Co. Can

Great West Life Assurance Co. Can reduced its stake in Raytheon Company (NYSE:RTN) by 0.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 288,009 shares of the aerospace company’s stock after selling 2,032 shares during the period. Great West Life Assurance Co. Can owned 0.10% of Raytheon Company worth $43,884,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of RTN. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Raytheon Company by 3.4% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 47,136 shares of the aerospace company’s stock valued at $7,188,000 after buying an additional 1,528 shares during the last quarter. Advisory Services Network LLC acquired a new position in Raytheon Company during the first quarter valued at $1,641,000. Wright Investors Service Inc. increased its position in Raytheon Company by 84.3% in the first quarter. Wright Investors Service Inc. now owns 20,125 shares of the aerospace company’s stock valued at $3,069,000 after buying an additional 9,205 shares during the last quarter. Tocqueville Asset Management L.P. increased its position in Raytheon Company by 8.1% in the first quarter. Tocqueville Asset Management L.P. now owns 42,514 shares of the aerospace company’s stock valued at $6,483,000 after buying an additional 3,181 shares during the last quarter. Finally, Jennison Associates LLC increased its position in Raytheon Company by 12.0% in the first quarter. Jennison Associates LLC now owns 14,711 shares of the aerospace company’s stock valued at $2,243,000 after buying an additional 1,582 shares during the last quarter. Hedge funds and other institutional investors own 76.20% of the company’s stock.

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

Raytheon Company (NYSE:RTN) traded down 0.02% during trading on Friday, reaching $162.56. 1,697,057 shares of the company’s stock were exchanged. Raytheon Company has a 12-month low of $130.97 and a 12-month high of $164.35. The stock’s 50-day moving average is $160.24 and its 200-day moving average is $152.38. The company has a market cap of $47.32 billion, a P/E ratio of 20.94 and a beta of 0.63.

Raytheon Company (NYSE:RTN) last issued its earnings results on Thursday, April 27th. The aerospace company reported $1.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.12. The company had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.83 billion. Raytheon Company had a return on equity of 20.45% and a net margin of 9.41%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.43 EPS. Analysts predict that Raytheon Company will post $7.48 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 3rd. Stockholders of record on Wednesday, July 5th will be issued a dividend of $0.7975 per share. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Friday, June 30th. Raytheon Company’s dividend payout ratio is presently 41.16%.

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Several research firms have recently weighed in on RTN. Royal Bank Of Canada reiterated a “buy” rating and issued a $181.00 target price on shares of Raytheon Company in a research note on Friday, June 2nd. Vetr upgraded shares of Raytheon Company from a “hold” rating to a “buy” rating and set a $170.66 target price for the company in a research note on Thursday, June 1st. Zacks Investment Research upgraded shares of Raytheon Company from a “hold” rating to a “buy” rating and set a $183.00 target price for the company in a research note on Tuesday, May 30th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $172.00 target price on shares of Raytheon Company in a research note on Tuesday, May 23rd. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $167.82.

In other news, Chairman Thomas A. Kennedy sold 10,703 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $162.05, for a total transaction of $1,734,421.15. Following the completion of the transaction, the chairman now directly owns 61,671 shares in the company, valued at approximately $9,993,785.55. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Thomas A. Kennedy sold 5,422 shares of the stock in a transaction on Friday, March 24th. The stock was sold at an average price of $152.29, for a total value of $825,716.38. Following the transaction, the chairman now owns 79,145 shares of the company’s stock, valued at $12,052,992.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,437 shares of company stock valued at $4,027,117. Company insiders own 0.19% of the company’s stock.

About Raytheon Company

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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