Blair William & Co. IL increased its stake in Raytheon Company (NYSE:RTN) by 32.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 90,515 shares of the aerospace company’s stock after purchasing an additional 22,346 shares during the quarter. Blair William & Co. IL’s holdings in Raytheon were worth $14,616,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of RTN. Signature Estate & Investment Advisors LLC acquired a new stake in Raytheon in the first quarter worth about $111,000. St. Johns Investment Management Company LLC acquired a new stake in Raytheon in the second quarter worth about $113,000. Jacobi Capital Management LLC lifted its holdings in Raytheon by 271.1% in the first quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock worth $114,000 after purchasing an additional 553 shares during the period. Tarbox Family Office Inc. lifted its holdings in Raytheon by 1,666.7% in the second quarter. Tarbox Family Office Inc. now owns 795 shares of the aerospace company’s stock worth $128,000 after purchasing an additional 750 shares during the period. Finally, Shine Investment Advisory Services Inc. acquired a new stake in Raytheon in the second quarter worth about $139,000. 73.75% of the stock is owned by institutional investors and hedge funds.
In other Raytheon news, VP Taylor W. Lawrence sold 3,791 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $182.09, for a total transaction of $690,303.19. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert E. Beauchamp bought 1,162 shares of Raytheon stock in a transaction on Monday, July 31st. The shares were bought at an average price of $171.99 per share, for a total transaction of $199,852.38. Following the acquisition, the director now owns 4,303 shares of the company’s stock, valued at approximately $740,072.97. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 5,120 shares of company stock worth $930,651. Company insiders own 0.19% of the company’s stock.
Several research firms recently weighed in on RTN. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $205.00 price objective for the company in a report on Wednesday. ValuEngine raised shares of Raytheon from a “hold” rating to a “buy” rating in a report on Monday, September 11th. Vetr downgraded shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price objective for the company. in a report on Wednesday, August 30th. Royal Bank Of Canada set a $193.00 price objective on shares of Raytheon and gave the stock a “buy” rating in a report on Monday, August 28th. Finally, BidaskClub downgraded shares of Raytheon from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 19th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Raytheon currently has an average rating of “Buy” and a consensus price target of $186.14.
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Shares of Raytheon Company (NYSE RTN) opened at 184.80 on Thursday. Raytheon Company has a 1-year low of $132.89 and a 1-year high of $185.15. The firm’s 50-day moving average is $179.06 and its 200-day moving average is $164.34. The stock has a market capitalization of $53.64 billion, a price-to-earnings ratio of 25.52 and a beta of 0.58.
Raytheon (NYSE:RTN) last issued its earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.15. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The firm had revenue of $6.28 billion for the quarter, compared to analysts’ expectations of $6.24 billion. During the same quarter last year, the business earned $2.38 earnings per share. The company’s revenue was up 4.2% compared to the same quarter last year. On average, analysts predict that Raytheon Company will post $7.59 earnings per share for the current fiscal year.
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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