Raytheon Company (RTN) Stake Raised by Fox Run Management L.L.C.
Fox Run Management L.L.C. raised its position in Raytheon Company (NYSE:RTN) by 127.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,500 shares of the aerospace company’s stock after buying an additional 4,200 shares during the period. Raytheon comprises about 0.4% of Fox Run Management L.L.C.’s holdings, making the stock its 16th largest position. Fox Run Management L.L.C.’s holdings in Raytheon were worth $1,211,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. BlackRock Inc. raised its position in shares of Raytheon by 2,166.0% in the first quarter. BlackRock Inc. now owns 19,407,819 shares of the aerospace company’s stock valued at $2,959,694,000 after buying an additional 18,551,353 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Raytheon by 4.7% in the first quarter. Vanguard Group Inc. now owns 21,910,520 shares of the aerospace company’s stock valued at $3,341,355,000 after buying an additional 989,986 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Raytheon by 66.5% in the first quarter. Renaissance Technologies LLC now owns 1,289,200 shares of the aerospace company’s stock valued at $196,603,000 after buying an additional 514,800 shares in the last quarter. Independence Advisors LLC purchased a new position in shares of Raytheon during the second quarter valued at about $28,551,000. Finally, MARSHALL WACE ASIA Ltd purchased a new position in shares of Raytheon during the first quarter valued at about $58,030,000. Institutional investors and hedge funds own 74.72% of the company’s stock.
Shares of Raytheon Company (RTN) traded up 0.33% on Friday, hitting $178.57. The stock had a trading volume of 299,953 shares. Raytheon Company has a 12-month low of $132.89 and a 12-month high of $181.05. The company has a 50 day moving average of $172.40 and a 200-day moving average of $160.59. The firm has a market capitalization of $51.83 billion, a P/E ratio of 24.66 and a beta of 0.59.
Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $6.24 billion. During the same period last year, the company posted $2.38 EPS. Raytheon’s revenue was up 4.2% on a year-over-year basis. Equities analysts predict that Raytheon Company will post $7.59 EPS for the current fiscal year.
Several equities analysts recently issued reports on the company. BidaskClub upgraded Raytheon from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 12th. Buckingham Research boosted their price target on Raytheon from $190.00 to $199.00 and gave the company a “buy” rating in a research note on Friday, August 11th. Argus restated a “buy” rating and set a $195.00 price target (up from $175.00) on shares of Raytheon in a research note on Friday, August 4th. Morgan Stanley assumed coverage on Raytheon in a research note on Tuesday, August 8th. They set an “equal weight” rating and a $188.00 price target on the stock. Finally, Robert W. Baird restated an “outperform” rating and set a $212.00 price target (up from $170.00) on shares of Raytheon in a research note on Thursday, August 10th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Raytheon currently has a consensus rating of “Buy” and an average price target of $183.01.
In related news, Director Vernon E. Clark sold 829 shares of Raytheon stock in a transaction dated 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 transaction, the director now directly owns 7,588 shares of the company’s stock, valued at approximately $1,367,281.72. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Wesley D. Kremer sold 1,010 shares of Raytheon stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $163.10, for a total transaction of $164,731.00. Following the transaction, the vice president now directly owns 23,136 shares of the company’s stock, valued at $3,773,481.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,740 shares of company stock valued at $2,730,129. 0.19% of the stock is currently owned by corporate insiders.
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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