LaFleur & Godfrey LLC raised its position in Raytheon (NYSE:RTN) by 4.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,356 shares of the aerospace company’s stock after purchasing an additional 3,455 shares during the quarter. Raytheon accounts for approximately 3.8% of LaFleur & Godfrey LLC’s portfolio, making the stock its 6th largest holding. LaFleur & Godfrey LLC’s holdings in Raytheon were worth $15,190,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Semmax Financial Advisors Inc. grew its stake in shares of Raytheon by 148.6% in the first quarter. Semmax Financial Advisors Inc. now owns 174 shares of the aerospace company’s stock valued at $32,000 after buying an additional 104 shares in the last quarter. Weaver Consulting Group acquired a new stake in shares of Raytheon in the first quarter valued at about $36,000. Berman Capital Advisors LLC grew its stake in shares of Raytheon by 74.6% in the second quarter. Berman Capital Advisors LLC now owns 220 shares of the aerospace company’s stock valued at $38,000 after buying an additional 94 shares in the last quarter. Bremer Bank National Association acquired a new stake in shares of Raytheon in the first quarter valued at about $39,000. Finally, LLBH Private Wealth Management LLC acquired a new stake in shares of Raytheon in the second quarter valued at about $43,000. Institutional investors own 72.96% of the company’s stock.
RTN has been the subject of a number of recent research reports. Bank of America reiterated a “buy” rating and issued a $265.00 target price (up previously from $224.00) on shares of Raytheon in a research note on Friday, July 26th. Buckingham Research lowered Raytheon from a “buy” rating to a “neutral” rating and lowered their target price for the company from $265.00 to $195.00 in a research note on Monday, June 24th. UBS Group increased their target price on Raytheon from $205.00 to $215.00 and gave the company a “neutral” rating in a research note on Friday, September 13th. Vertical Research lowered Raytheon from a “buy” rating to a “hold” rating and lowered their target price for the company from $216.00 to $203.00 in a research note on Tuesday, June 11th. Finally, Stifel Nicolaus increased their target price on Raytheon from $205.00 to $218.00 and gave the company a “buy” rating in a research note on Monday, June 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $212.00.
Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, July 25th. The aerospace company reported $2.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.61 by $0.31. Raytheon had a return on equity of 26.34% and a net margin of 10.96%. The firm had revenue of $7.16 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same quarter last year, the firm earned $2.45 EPS. Raytheon’s quarterly revenue was up 8.1% on a year-over-year basis. On average, analysts anticipate that Raytheon will post 11.73 earnings per share for the current year.
In other Raytheon news, VP Frank R. Jimenez sold 1,054 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $180.00, for a total transaction of $189,720.00. Following the completion of the sale, the vice president now owns 25,863 shares in the company, valued at approximately $4,655,340. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Wesley D. Kremer sold 2,915 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $200.00, for a total value of $583,000.00. Following the sale, the vice president now 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 90 days, insiders have sold 13,969 shares of company stock valued at $2,622,820. 0.18% of the stock is owned by insiders.
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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