Newman Dignan & Sheerar Inc. Has $740,000 Stake in Raytheon (RTN)

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Newman Dignan & Sheerar Inc. grew its position in Raytheon (NYSE:RTN) by 11.3% during the second quarter, HoldingsChannel reports. The firm owned 3,829 shares of the aerospace company’s stock after acquiring an additional 390 shares during the period. Newman Dignan & Sheerar Inc.’s holdings in Raytheon were worth $740,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in RTN. BlackRock Inc. raised its holdings in shares of Raytheon by 1.8% in the 1st quarter. BlackRock Inc. now owns 21,631,795 shares of the aerospace company’s stock valued at $4,668,574,000 after purchasing an additional 390,856 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Raytheon by 23.7% in the 1st quarter. Royal Bank of Canada now owns 1,855,895 shares of the aerospace company’s stock valued at $400,539,000 after purchasing an additional 356,086 shares in the last quarter. Alkeon Capital Management LLC acquired a new stake in shares of Raytheon in the 1st quarter valued at $70,142,000. Winslow Capital Management LLC raised its holdings in shares of Raytheon by 26.2% in the 1st quarter. Winslow Capital Management LLC now owns 1,516,593 shares of the aerospace company’s stock valued at $327,311,000 after purchasing an additional 314,561 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Raytheon by 100.0% in the 4th quarter. Millennium Management LLC now owns 591,173 shares of the aerospace company’s stock valued at $111,052,000 after purchasing an additional 295,616 shares in the last quarter. Institutional investors and hedge funds own 72.69% of the company’s stock.

Several brokerages recently commented on RTN. Zacks Investment Research lowered shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Thursday, April 12th. ValuEngine upgraded shares of Raytheon from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Credit Suisse Group reiterated a “neutral” rating and set a $219.00 price target (down from $250.00) on shares of Raytheon in a research note on Tuesday, May 22nd. Barclays began coverage on shares of Raytheon in a research note on Thursday, March 29th. They set an “equal weight” rating and a $239.00 price target on the stock. Finally, Wolfe Research upgraded shares of Raytheon from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 8th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $220.23.

NYSE RTN traded up $0.70 during trading on Friday, reaching $194.33. The company’s stock had a trading volume of 55,640 shares, compared to its average volume of 1,959,483. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.52 and a current ratio of 1.62. The firm has a market cap of $56.02 billion, a PE ratio of 25.12, a P/E/G ratio of 1.72 and a beta of 0.69. Raytheon has a twelve month low of $163.03 and a twelve month high of $229.75.

Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, April 26th. The aerospace company reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.10. The company had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.21 billion. Raytheon had a net margin of 8.40% and a return on equity of 22.69%. Raytheon’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.74 earnings per share. research analysts predict that Raytheon will post 9.87 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 2nd. Shareholders of record on Wednesday, July 11th will be paid a $0.8675 dividend. The ex-dividend date is Tuesday, July 10th. This represents a $3.47 dividend on an annualized basis and a yield of 1.79%. Raytheon’s dividend payout ratio is presently 45.54%.

In other Raytheon news, Director Vernon E. Clark sold 1,000 shares of Raytheon stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $212.52, for a total value of $212,520.00. Following the transaction, the director now directly owns 6,588 shares in the company, valued at $1,400,081.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Taylor W. Lawrence sold 1,241 shares of Raytheon stock in a transaction on Monday, June 4th. The shares were sold at an average price of $212.14, for a total transaction of $263,265.74. Following the completion of the transaction, the vice president now owns 46,999 shares in the company, valued at $9,970,367.86. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,862 shares of company stock worth $816,748. 0.19% of the stock is currently owned by company insiders.

Raytheon Company Profile

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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