New Mexico Educational Retirement Board Has $4.02 Million Stock Holdings in Raytheon (NYSE:RTN)

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New Mexico Educational Retirement Board reduced its stake in shares of Raytheon (NYSE:RTN) by 2.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,143 shares of the aerospace company’s stock after selling 600 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Raytheon were worth $4,024,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RTN. HNP Capital LLC lifted its position in shares of Raytheon by 0.6% during the 1st quarter. HNP Capital LLC now owns 9,030 shares of the aerospace company’s stock worth $1,644,000 after buying an additional 57 shares during the last quarter. Wright Investors Service Inc. lifted its position in shares of Raytheon by 0.7% during the 2nd quarter. Wright Investors Service Inc. now owns 8,826 shares of the aerospace company’s stock worth $1,534,000 after buying an additional 57 shares during the last quarter. Weatherly Asset Management L. P. lifted its position in shares of Raytheon by 0.4% during the 1st quarter. Weatherly Asset Management L. P. now owns 14,960 shares of the aerospace company’s stock worth $2,724,000 after buying an additional 63 shares during the last quarter. Altfest L J & Co. Inc. lifted its position in shares of Raytheon by 0.8% during the 2nd quarter. Altfest L J & Co. Inc. now owns 7,933 shares of the aerospace company’s stock worth $1,379,000 after buying an additional 64 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in shares of Raytheon by 3.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,991 shares of the aerospace company’s stock worth $346,000 after buying an additional 64 shares during the last quarter. 72.21% of the stock is currently owned by institutional investors.

NYSE RTN traded down $0.93 during trading hours on Thursday, hitting $184.14. 12,653 shares of the company’s stock were exchanged, compared to its average volume of 1,754,483. The stock has a 50-day simple moving average of $180.79 and a 200 day simple moving average of $180.28. Raytheon has a 1-year low of $144.27 and a 1-year high of $210.89. The firm has a market cap of $51.82 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 1.43 and a beta of 0.86. 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 (NYSE:RTN) last released its earnings results on Thursday, July 25th. The aerospace company reported $2.92 EPS for the quarter, topping the consensus estimate of $2.61 by $0.31. Raytheon had a return on equity of 26.34% and a net margin of 10.96%. The business had revenue of $7.16 billion during the quarter, compared to analysts’ expectations of $7.02 billion. During the same quarter last year, the firm posted $2.45 earnings per share. The firm’s revenue was up 8.1% on a year-over-year basis. On average, sell-side analysts anticipate that Raytheon will post 11.73 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a dividend of $0.9425 per share. The ex-dividend date was Tuesday, July 9th. This represents a $3.77 annualized dividend and a yield of 2.05%. Raytheon’s dividend payout ratio is currently 35.53%.

In other Raytheon news, VP Wesley D. Kremer sold 8,186 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $185.00, for a total value of $1,514,410.00. Following the completion of the sale, the vice president now owns 29,175 shares of the company’s stock, valued at $5,397,375. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Randa G. Newsome sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the vice president now directly owns 20,396 shares of the company’s stock, valued at approximately $3,773,463.96. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Several brokerages recently weighed in on RTN. Stifel Nicolaus upped their price objective on Raytheon from $205.00 to $218.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Zacks Investment Research downgraded Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, April 29th. Vertical Research downgraded Raytheon from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $216.00 to $203.00 in a research report on Tuesday, June 11th. Bank of America restated a “buy” rating and set a $265.00 price objective (up from $224.00) on shares of Raytheon in a research report on Friday, July 26th. Finally, Jefferies Financial Group raised their price objective on Raytheon from $202.00 to $216.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. Raytheon currently has a consensus rating of “Buy” and a consensus target price of $209.80.

About Raytheon

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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