Capstone Asset Management Co. Purchases 152 Shares of Raytheon Company (RTN)
Capstone Asset Management Co. boosted its position in Raytheon Company (NYSE:RTN) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,405 shares of the aerospace company’s stock after buying an additional 152 shares during the period. Capstone Asset Management Co.’s holdings in Raytheon were worth $11,692,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. increased 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 worth $2,959,694,000 after buying an additional 18,551,353 shares in the last quarter. Vanguard Group Inc. increased 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 worth $3,341,355,000 after buying an additional 989,986 shares in the last quarter. Renaissance Technologies LLC increased 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 worth $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 worth about $28,551,000. Finally, MARSHALL WACE ASIA Ltd purchased a new position in shares of Raytheon during the first quarter worth about $58,030,000. Institutional investors own 74.72% of the company’s stock.
Shares of Raytheon Company (RTN) traded up 0.02% during trading on Friday, hitting $178.03. 792,062 shares of the stock were exchanged. The company has a market cap of $51.67 billion, a price-to-earnings ratio of 24.59 and a beta of 0.59. The firm has a 50 day moving average of $172.80 and a 200-day moving average of $160.80. Raytheon Company has a 12-month low of $132.89 and a 12-month high of $181.05.
Raytheon (NYSE:RTN) last announced its quarterly earnings results on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.15. The business had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.24 billion. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. Raytheon’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.38 EPS. On average, analysts forecast that Raytheon Company will post $7.59 earnings per share for the current year.
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A number of research analysts recently issued reports on RTN shares. Zacks Investment Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Friday, May 19th. Vetr cut shares of Raytheon from a “buy” rating to a “hold” rating and set a $166.27 price objective on the stock. in a report on Tuesday, May 9th. Royal Bank Of Canada reissued a “buy” rating and set a $181.00 price objective on shares of Raytheon in a report on Friday, June 2nd. BidaskClub raised shares of Raytheon from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $172.00 price objective on shares of Raytheon in a report on Monday, June 26th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Raytheon presently has an average rating of “Buy” and an average target price of $183.01.
In related news, VP Taylor W. Lawrence sold 2,756 shares of the business’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $162.04, for a total value of $446,582.24. Following the sale, the vice president now owns 53,285 shares of the company’s stock, valued at approximately $8,634,301.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Michael J. Wood sold 1,442 shares of the business’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $162.98, for a total value of $235,017.16. Following the completion of the sale, the chief accounting officer now directly owns 18,470 shares in the company, valued at approximately $3,010,240.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,740 shares of company stock worth $2,730,129. 0.19% of the stock is owned by 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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