Raytheon (NYSE:RTN) Holdings Trimmed by Private Advisor Group LLC

Private Advisor Group LLC trimmed its position in shares of Raytheon (NYSE:RTN) by 12.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,232 shares of the aerospace company’s stock after selling 3,120 shares during the period. Private Advisor Group LLC’s holdings in Raytheon were worth $3,866,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. boosted its stake in shares of Raytheon by 2.3% during the 1st quarter. BlackRock Inc. now owns 23,365,818 shares of the aerospace company’s stock valued at $4,254,449,000 after buying an additional 527,708 shares during the period. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Raytheon by 7.3% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 4,165,178 shares of the aerospace company’s stock valued at $758,397,000 after buying an additional 284,688 shares during the period. Clearbridge Investments LLC boosted its stake in shares of Raytheon by 1.6% during the 1st quarter. Clearbridge Investments LLC now owns 3,018,011 shares of the aerospace company’s stock valued at $549,519,000 after buying an additional 47,460 shares during the period. LSV Asset Management boosted its stake in shares of Raytheon by 829.0% during the 1st quarter. LSV Asset Management now owns 2,129,350 shares of the aerospace company’s stock valued at $387,712,000 after buying an additional 1,900,150 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in shares of Raytheon by 25.3% during the 1st quarter. Lazard Asset Management LLC now owns 1,700,821 shares of the aerospace company’s stock valued at $309,684,000 after buying an additional 342,977 shares during the period. Hedge funds and other institutional investors own 72.96% of the company’s stock.

A number of equities research analysts have issued reports on the stock. ValuEngine lowered shares of Raytheon from a “hold” rating to a “sell” rating in a research note on Friday, June 28th. Stifel Nicolaus lifted their target price on shares of Raytheon from $205.00 to $218.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Bank of America reissued a “buy” rating and set a $265.00 target price (up previously from $224.00) on shares of Raytheon in a research note on Friday, July 26th. Sanford C. Bernstein lowered shares of Raytheon from an “outperform” rating to a “market perform” rating and set a $212.00 target price for the company. in a research note on Tuesday. Finally, Vertical Research lowered shares of Raytheon from a “buy” rating to a “hold” rating and reduced their price objective for the company from $216.00 to $203.00 in a research note on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $212.00.

Raytheon stock traded up $0.40 on Thursday, reaching $200.71. 28,455 shares of the stock were exchanged, compared to its average volume of 1,493,601. The stock has a market cap of $55.78 billion, a PE ratio of 18.91, a PEG ratio of 1.63 and a beta of 0.85. The company has a current ratio of 1.46, a quick ratio of 1.35 and a debt-to-equity ratio of 0.41. Raytheon has a twelve month low of $144.27 and a twelve month high of $210.89. The firm has a fifty day moving average price of $185.72 and a two-hundred day moving average price of $181.34.

Raytheon (NYSE:RTN) last released its earnings results on Thursday, July 25th. The aerospace company reported $2.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.61 by $0.31. The firm had revenue of $7.16 billion during the quarter, compared to analyst estimates of $7.02 billion. Raytheon had a net margin of 10.96% and a return on equity of 26.34%. The business’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.45 EPS. Equities analysts anticipate that Raytheon will post 11.73 EPS for the current fiscal year.

In other Raytheon news, VP Frank R. Jimenez sold 1,054 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $180.00, for a total transaction of $189,720.00. Following the completion of the transaction, the vice president now owns 25,863 shares of the company’s stock, valued at approximately $4,655,340. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Wesley D. Kremer sold 2,915 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $583,000.00. Following the transaction, the vice president now directly owns 26,260 shares of the company’s stock, valued at approximately $5,252,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,969 shares of company stock valued at $2,622,820. Company insiders own 0.18% of the company’s stock.

About Raytheon

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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