Raytheon (RTN) Shares Sold by Brookstone Capital Management

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Brookstone Capital Management cut its holdings in shares of Raytheon (NYSE:RTN) by 20.3% in the 3rd quarter, Holdings Channel reports. The firm owned 1,543 shares of the aerospace company’s stock after selling 394 shares during the quarter. Brookstone Capital Management’s holdings in Raytheon were worth $319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Raytheon by 1.3% during the 2nd quarter. BlackRock Inc. now owns 21,910,796 shares of the aerospace company’s stock worth $4,232,729,000 after acquiring an additional 279,001 shares during the period. FMR LLC grew its stake in shares of Raytheon by 3.6% during the 2nd quarter. FMR LLC now owns 8,242,330 shares of the aerospace company’s stock worth $1,592,253,000 after acquiring an additional 283,720 shares during the period. Macquarie Group Ltd. grew its stake in shares of Raytheon by 2.8% during the 2nd quarter. Macquarie Group Ltd. now owns 3,459,211 shares of the aerospace company’s stock worth $668,250,000 after acquiring an additional 94,161 shares during the period. Northern Trust Corp grew its stake in shares of Raytheon by 1.2% during the 2nd quarter. Northern Trust Corp now owns 3,279,555 shares of the aerospace company’s stock worth $633,543,000 after acquiring an additional 39,666 shares during the period. Finally, Morgan Stanley grew its stake in shares of Raytheon by 16.4% during the 2nd quarter. Morgan Stanley now owns 3,268,371 shares of the aerospace company’s stock worth $631,383,000 after acquiring an additional 461,461 shares during the period. Institutional investors own 73.24% of the company’s stock.

In other Raytheon news, VP Taylor W. Lawrence sold 3,299 shares of the firm’s stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $199.41, for a total value of $657,853.59. Following the completion of the transaction, the vice president now owns 44,220 shares in the company, valued at approximately $8,817,910.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.19% of the stock is owned by company insiders.

Shares of NYSE RTN opened at $188.02 on Friday. Raytheon has a 52 week low of $165.00 and a 52 week high of $229.75. The company has a quick ratio of 1.37, a current ratio of 1.49 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $53.31 billion, a price-to-earnings ratio of 24.67, a P/E/G ratio of 1.40 and a beta of 0.84.

Raytheon (NYSE:RTN) last issued its earnings results on Thursday, October 25th. The aerospace company reported $2.25 EPS for the quarter, topping the consensus estimate of $1.97 by $0.28. Raytheon had a return on equity of 24.43% and a net margin of 9.33%. The business had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter last year, the company earned $1.97 EPS. On average, equities analysts forecast that Raytheon will post 10.1 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 8th. Shareholders of record on Wednesday, October 10th were paid a $0.8675 dividend. The ex-dividend date of this dividend was Tuesday, October 9th. This represents a $3.47 annualized dividend and a yield of 1.85%. Raytheon’s dividend payout ratio is currently 45.54%.

RTN has been the subject of several research reports. Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $233.00 price target for the company in a research note on Wednesday, October 3rd. Wells Fargo & Co cut their price target on Raytheon from $225.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, October 26th. Bank of America cut their price target on Raytheon from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, October 26th. Stifel Nicolaus cut their price target on Raytheon from $235.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, July 27th. Finally, UBS Group initiated coverage on Raytheon in a research note on Wednesday, August 15th. They set a “buy” rating and a $250.00 price target for the company. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $231.08.

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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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