Seaward Management Limited Partnership boosted its stake in shares of Raytheon Company (NYSE:RTN) by 0.9% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 31,389 shares of the aerospace company’s stock after purchasing an additional 295 shares during the period. Seaward Management Limited Partnership’s holdings in Raytheon were worth $5,068,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. National Pension Service grew its position in Raytheon by 12.1% during the 2nd quarter. National Pension Service now owns 248,655 shares of the aerospace company’s stock worth $39,892,000 after purchasing an additional 26,830 shares during the period. Lockheed Martin Investment Management Co. acquired a new stake in Raytheon during the 1st quarter worth about $1,830,000. Abner Herrman & Brock LLC grew its position in Raytheon by 8.2% during the 2nd quarter. Abner Herrman & Brock LLC now owns 77,617 shares of the aerospace company’s stock worth $12,534,000 after purchasing an additional 5,866 shares during the period. Kornitzer Capital Management Inc. KS grew its position in Raytheon by 13.9% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 6,720 shares of the aerospace company’s stock worth $1,085,000 after purchasing an additional 820 shares during the period. Finally, GHP Investment Advisors Inc. acquired a new stake in Raytheon during the 1st quarter worth about $204,000. 73.82% of the stock is currently owned by institutional investors.
In related news, Director Robert E. Beauchamp bought 1,162 shares of the stock in a transaction on Monday, July 31st. The shares were bought at an average cost of $171.99 per share, for a total transaction of $199,852.38. Following the completion of the transaction, the director now owns 4,303 shares of the company’s stock, valued at approximately $740,072.97. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vernon E. Clark sold 829 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $180.19, for a total transaction of $149,377.51. Following the transaction, the director now owns 7,588 shares in the company, valued at $1,367,281.72. The disclosure for this sale can be found here. Insiders have sold 5,120 shares of company stock worth $930,651 over the last 90 days. 0.19% of the stock is currently owned by company insiders.
Shares of Raytheon Company (RTN) opened at 182.72 on Tuesday. The firm has a market capitalization of $53.03 billion, a PE ratio of 25.24 and a beta of 0.58. Raytheon Company has a 12-month low of $132.89 and a 12-month high of $184.17. The company has a 50-day moving average price of $176.83 and a 200 day moving average price of $162.98.
Raytheon (NYSE:RTN) last issued its earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share for the quarter, topping the 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 company had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.24 billion. During the same period in the prior year, the business posted $2.38 earnings per share. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities analysts expect that Raytheon Company will post $7.59 earnings per share for the current year.
Several equities research analysts have weighed in on RTN shares. Vetr raised Raytheon from a “hold” rating to a “buy” rating and set a $167.16 price target on the stock in a research report on Monday, May 22nd. Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $181.00 target price on the stock in a research report on Tuesday, May 23rd. Jefferies Group LLC restated a “buy” rating and set a $172.00 target price on shares of Raytheon in a research report on Tuesday, May 23rd. BidaskClub upgraded Raytheon from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $181.00 target price on shares of Raytheon in a research report on Friday, June 2nd. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $184.67.
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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