Financial Consulate Inc. acquired a new position in Raytheon Company (NYSE:RTN) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,562 shares of the aerospace company’s stock, valued at approximately $252,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Lockheed Martin Investment Management Co. purchased a new position in Raytheon in the 1st quarter worth approximately $1,830,000. National Pension Service raised its holdings in Raytheon by 12.1% in the 2nd quarter. National Pension Service now owns 248,655 shares of the aerospace company’s stock worth $39,892,000 after acquiring an additional 26,830 shares during the last quarter. Abner Herrman & Brock LLC raised its holdings in Raytheon by 8.2% in the 2nd quarter. Abner Herrman & Brock LLC now owns 77,617 shares of the aerospace company’s stock worth $12,534,000 after acquiring an additional 5,866 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its holdings in Raytheon by 13.9% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 6,720 shares of the aerospace company’s stock worth $1,085,000 after acquiring an additional 820 shares during the last quarter. Finally, GHP Investment Advisors Inc. purchased a new position in Raytheon in the 1st quarter worth approximately $204,000. Institutional investors own 73.82% of the company’s stock.
In related news, VP Taylor W. Lawrence sold 3,791 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $182.09, for a total transaction of $690,303.19. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert E. Beauchamp purchased 1,162 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were purchased at an average price of $171.99 per share, for a total transaction of $199,852.38. Following the transaction, 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. Insiders sold 5,120 shares of company stock worth $930,651 in the last quarter. Company insiders own 0.19% of the company’s stock.
Shares of Raytheon Company (NYSE RTN) opened at 181.69 on Monday. Raytheon Company has a 12 month low of $132.89 and a 12 month high of $184.17. The stock’s 50 day moving average is $176.62 and its 200-day moving average is $162.78. The company has a market cap of $52.74 billion, a P/E ratio of 25.10 and a beta of 0.58.
Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.15. The firm had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.24 billion. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.38 earnings per share. On average, equities analysts forecast that Raytheon Company will post $7.59 EPS for the current year.
A number of equities analysts recently weighed in on RTN shares. Vetr lowered shares of Raytheon from a “buy” rating to a “hold” rating and set a $160.62 price objective for the company. in a report on Monday, May 15th. Zacks Investment Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Friday, May 19th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $172.00 target price on shares of Raytheon in a research report on Tuesday, May 23rd. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $181.00 target price on shares of Raytheon in a research report on Friday, June 2nd. Finally, BidaskClub raised shares of Raytheon from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Raytheon has a consensus rating of “Buy” and an average 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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