Atria Investments LLC boosted its stake in Raytheon Company (NYSE:RTN) by 4.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 18,498 shares of the aerospace company’s stock after buying an additional 763 shares during the period. Atria Investments LLC’s holdings in Raytheon were worth $2,987,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mn Services Vermogensbeheer B.V. boosted its position in Raytheon by 1.9% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 7,831 shares of the aerospace company’s stock valued at $1,117,000 after buying an additional 148 shares during the last quarter. Ferguson Wellman Capital Management Inc. boosted its position in Raytheon by 2.3% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 253,325 shares of the aerospace company’s stock valued at $38,632,000 after buying an additional 5,585 shares during the last quarter. Loeb Partners Corp boosted its position in Raytheon by 250.0% in the first quarter. Loeb Partners Corp now owns 7,000 shares of the aerospace company’s stock valued at $1,067,000 after buying an additional 5,000 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its position in Raytheon by 28.2% in the first quarter. Candriam Luxembourg S.C.A. now owns 25,993 shares of the aerospace company’s stock valued at $3,964,000 after buying an additional 5,715 shares during the last quarter. Finally, James Investment Research Inc. boosted its position in Raytheon by 0.6% in the first quarter. James Investment Research Inc. now owns 68,346 shares of the aerospace company’s stock valued at $10,422,000 after buying an additional 381 shares during the last quarter. 74.72% of the stock is currently owned by hedge funds and other institutional investors.
Raytheon Company (NYSE RTN) traded up 0.02% during mid-day trading on Friday, reaching $178.03. 792,062 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $172.80 and its 200 day moving average price is $160.80. Raytheon Company has a one year low of $132.89 and a one year high of $181.05. The firm has a market cap of $51.67 billion, a price-to-earnings ratio of 24.59 and a beta of 0.59.
Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.15. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The firm had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.24 billion. During the same period last year, the business earned $2.38 earnings per share. Raytheon’s revenue was up 4.2% compared to the same quarter last year. On average, equities analysts forecast that Raytheon Company will post $7.59 EPS for the current year.
Several research firms have recently weighed in on RTN. Vetr cut shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price target on the stock. in a report on Tuesday, August 15th. BidaskClub upgraded shares of Raytheon from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 12th. Robert W. Baird reiterated an “outperform” rating and issued a $212.00 target price (up from $170.00) on shares of Raytheon in a research report on Thursday, August 10th. Cowen and Company reiterated an “outperform” rating and issued a $189.00 target price (up from $182.00) on shares of Raytheon in a research report on Thursday, August 10th. Finally, Buckingham Research upped their target price on shares of Raytheon from $190.00 to $199.00 and gave the stock a “buy” rating in a research report on Friday, August 11th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $183.01.
In related news, Chairman Thomas A. Kennedy sold 10,703 shares of the firm’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $162.05, for a total transaction of $1,734,421.15. Following the completion of the sale, the chairman now directly owns 61,671 shares in the company, valued at $9,993,785.55. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Wesley D. Kremer sold 1,010 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $163.10, for a total transaction of $164,731.00. Following the sale, the vice president now owns 23,136 shares of the company’s stock, valued at $3,773,481.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,740 shares of company stock valued at $2,730,129. 0.19% of the stock is owned by company insiders.
About Raytheon
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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