Highstreet Asset Management Inc. increased its position in Raytheon Company (NYSE:RTN) by 82.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,557 shares of the aerospace company’s stock after purchasing an additional 7,476 shares during the quarter. Highstreet Asset Management Inc.’s holdings in Raytheon were worth $2,674,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of RTN. Signature Estate & Investment Advisors LLC bought a new stake in shares of Raytheon in the 1st quarter valued at about $111,000. St. Johns Investment Management Company LLC bought a new stake in shares of Raytheon in the 2nd quarter valued at about $113,000. Jacobi Capital Management LLC raised its holdings in shares of Raytheon by 271.1% in the 1st quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock valued at $114,000 after purchasing an additional 553 shares during the period. Tarbox Family Office Inc. raised its holdings in shares of Raytheon by 1,666.7% in the 2nd quarter. Tarbox Family Office Inc. now owns 795 shares of the aerospace company’s stock valued at $128,000 after purchasing an additional 750 shares during the period. Finally, Shine Investment Advisory Services Inc. bought a new stake in shares of Raytheon in the 2nd quarter valued at about $139,000. 73.75% of the stock is currently owned by institutional investors.
Raytheon Company (NYSE RTN) opened at 183.25 on Wednesday. Raytheon Company has a one year low of $132.89 and a one year high of $184.38. The company has a market capitalization of $53.19 billion, a PE ratio of 25.31 and a beta of 0.58. The stock’s 50 day moving average is $179.06 and its 200 day moving average is $164.34.
Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the firm posted $2.38 earnings per share. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, analysts anticipate that Raytheon Company will post $7.59 earnings per share for the current fiscal year.
In other news, VP Frank R. Jimenez sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $181.94, for a total value of $90,970.00. Following the sale, the vice president now owns 29,292 shares of the company’s stock, valued at $5,329,386.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Vernon E. Clark sold 829 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $180.19, for a total transaction of $149,377.51. Following the completion of the sale, the director now directly owns 7,588 shares in the company, valued at approximately $1,367,281.72. The disclosure for this sale can be found here. In the last three months, insiders sold 5,120 shares of company stock worth $930,651. Insiders own 0.19% of the company’s stock.
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A number of brokerages have recently issued reports on RTN. Zacks Investment Research cut shares of Raytheon from a “buy” rating to a “hold” rating in a report on Monday. ValuEngine raised shares of Raytheon from a “hold” rating to a “buy” rating in a report on Monday, September 11th. 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 Wednesday, August 30th. Royal Bank Of Canada set a $193.00 price target on shares of Raytheon and gave the company a “buy” rating in a report on Monday, August 28th. Finally, BidaskClub cut shares of Raytheon from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 19th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $186.07.
Raytheon Company Profile
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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