Elkfork Partners LLC Has $811,000 Stake in Raytheon (NYSE:RTN)

Elkfork Partners LLC decreased its position in shares of Raytheon (NYSE:RTN) by 71.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,664 shares of the aerospace company’s stock after selling 11,924 shares during the quarter. Elkfork Partners LLC’s holdings in Raytheon were worth $811,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RTN. Farmers National Bank acquired a new stake in shares of Raytheon during the 1st quarter valued at approximately $27,000. Semmax Financial Advisors Inc. raised its position in shares of Raytheon by 148.6% during the 1st quarter. Semmax Financial Advisors Inc. now owns 174 shares of the aerospace company’s stock worth $32,000 after purchasing an additional 104 shares during the last quarter. Weaver Consulting Group acquired a new position in shares of Raytheon during the 1st quarter worth approximately $36,000. Berman Capital Advisors LLC raised its position in shares of Raytheon by 74.6% during the 2nd quarter. Berman Capital Advisors LLC now owns 220 shares of the aerospace company’s stock worth $38,000 after purchasing an additional 94 shares during the last quarter. Finally, Bremer Bank National Association acquired a new position in shares of Raytheon during the 1st quarter worth approximately $39,000. 72.96% of the stock is currently owned by hedge funds and other institutional investors.

In related news, VP Wesley D. Kremer sold 2,915 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $200.00, for a total value of $583,000.00. Following the completion of the sale, the vice president now owns 26,260 shares in the company, valued at approximately $5,252,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Frank R. Jimenez sold 1,054 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $180.00, for a total transaction of $189,720.00. Following the completion of the sale, the vice president now owns 25,863 shares of the company’s stock, valued at approximately $4,655,340. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,969 shares of company stock valued at $2,622,820. 0.18% of the stock is owned by insiders.

Several brokerages recently issued reports on RTN. ValuEngine downgraded Raytheon from a “hold” rating to a “sell” rating in a research report on Friday, June 28th. Vertical Research cut shares of Raytheon from a “buy” rating to a “hold” rating and lowered their target price for the stock from $216.00 to $203.00 in a research note on Tuesday, June 11th. UBS Group lifted their target price on shares of Raytheon from $205.00 to $215.00 and gave the stock a “neutral” rating in a research note on Friday, September 13th. Buckingham Research cut shares of Raytheon from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $265.00 to $195.00 in a research note on Monday, June 24th. Finally, Sanford C. Bernstein cut shares of Raytheon from an “outperform” rating to a “market perform” rating and set a $212.00 target price for the company. in a research note on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. Raytheon currently has a consensus rating of “Buy” and an average price target of $212.00.

Shares of RTN stock opened at $195.52 on Friday. The firm has a market capitalization of $54.99 billion, a P/E ratio of 18.43, a P/E/G ratio of 1.58 and a beta of 0.85. The company’s fifty day moving average price is $188.50 and its two-hundred day moving average price is $181.96. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.46 and a quick ratio of 1.35. Raytheon has a 12 month low of $144.27 and a 12 month high of $209.18.

Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, July 25th. The aerospace company reported $2.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.61 by $0.31. Raytheon had a net margin of 10.96% and a return on equity of 26.34%. The business had revenue of $7.16 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter in the prior year, the firm earned $2.45 EPS. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Raytheon will post 11.73 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Wednesday, October 9th will be given a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a dividend yield of 1.93%. Raytheon’s dividend payout ratio is presently 35.53%.

Raytheon Profile

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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