Wellington Shields Capital Management LLC Acquires 2,303 Shares of Raytheon (NYSE:RTN)

Wellington Shields Capital Management LLC lifted its holdings in Raytheon (NYSE:RTN) by 10.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,803 shares of the aerospace company’s stock after purchasing an additional 2,303 shares during the period. Raytheon accounts for approximately 0.7% of Wellington Shields Capital Management LLC’s portfolio, making the stock its 23rd biggest holding. Wellington Shields Capital Management LLC’s holdings in Raytheon were worth $4,313,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of RTN. Country Club Trust Company n.a. grew its position in Raytheon by 7.4% during the second quarter. Country Club Trust Company n.a. now owns 46,543 shares of the aerospace company’s stock worth $8,093,000 after buying an additional 3,216 shares in the last quarter. Clarius Group LLC acquired a new stake in Raytheon during the first quarter worth about $233,000. Great Valley Advisor Group Inc. grew its position in Raytheon by 11.3% during the second quarter. Great Valley Advisor Group Inc. now owns 2,126 shares of the aerospace company’s stock worth $370,000 after buying an additional 216 shares in the last quarter. Tredje AP fonden boosted its holdings in Raytheon by 1.0% during the first quarter. Tredje AP fonden now owns 23,343 shares of the aerospace company’s stock valued at $4,250,000 after purchasing an additional 227 shares in the last quarter. Finally, Beech Hill Advisors Inc. acquired a new stake in Raytheon during the second quarter valued at approximately $3,874,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

A number of equities research analysts have weighed in on RTN shares. Jefferies Financial Group lifted their price objective on Raytheon from $202.00 to $216.00 and gave the company a “buy” rating in a report on Monday, May 6th. ValuEngine downgraded Raytheon from a “hold” rating to a “sell” rating in a report on Friday, June 28th. Buckingham Research downgraded Raytheon from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $265.00 to $195.00 in a report on Monday, June 24th. Stifel Nicolaus lifted their price objective on Raytheon from $205.00 to $218.00 and gave the company a “buy” rating in a report on Monday, June 10th. Finally, Vertical Research downgraded Raytheon from a “buy” rating to a “hold” rating and decreased their price objective for the company from $216.00 to $203.00 in a report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $209.80.

Shares of RTN traded up $1.72 on Thursday, hitting $181.14. The company’s stock had a trading volume of 19,732 shares, compared to its average volume of 1,613,926. The company has a market capitalization of $50.61 billion, a PE ratio of 17.07, a PEG ratio of 1.45 and a beta of 0.86. 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 fifty-two week low of $144.27 and a fifty-two week high of $210.89. The company has a 50 day moving average price of $181.88 and a 200 day moving average price of $180.57.

Raytheon (NYSE:RTN) last announced its earnings results on Thursday, July 25th. The aerospace company reported $2.92 EPS for the quarter, topping the consensus estimate of $2.61 by $0.31. The business had revenue of $7.16 billion for the quarter, compared to the consensus estimate of $7.02 billion. Raytheon had a return on equity of 26.34% and a net margin of 10.96%. Raytheon’s revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.45 EPS. On average, equities analysts forecast that Raytheon will post 11.73 EPS for the current year.

In other news, VP Randa G. Newsome sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $185.01, for a total value of $1,850,100.00. Following the transaction, the vice president now directly owns 20,396 shares of the company’s stock, valued at approximately $3,773,463.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Wesley D. Kremer sold 8,186 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $185.00, for a total value of $1,514,410.00. Following the completion of the transaction, the vice president now directly owns 29,175 shares in the company, valued at $5,397,375. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

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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