Janney Montgomery Scott LLC Has $20.10 Million Position in Raytheon Company (RTN)
Janney Montgomery Scott LLC increased its stake in shares of Raytheon Company (NYSE:RTN) by 7.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 124,488 shares of the aerospace company’s stock after buying an additional 8,633 shares during the period. Janney Montgomery Scott LLC’s holdings in Raytheon were worth $20,102,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lockheed Martin Investment Management Co. acquired a new stake in Raytheon during the first quarter valued at approximately $1,830,000. James Investment Research Inc. boosted its stake in Raytheon by 0.6% in the first quarter. James Investment Research Inc. now owns 68,346 shares of the aerospace company’s stock valued at $10,422,000 after buying an additional 381 shares in the last quarter. GHP Investment Advisors Inc. acquired a new stake in Raytheon during the first quarter valued at approximately $204,000. Homrich & Berg boosted its stake in Raytheon by 20.4% in the first quarter. Homrich & Berg now owns 2,664 shares of the aerospace company’s stock valued at $406,000 after buying an additional 451 shares in the last quarter. Finally, United Bank Inc. boosted its stake in Raytheon by 6.8% in the first quarter. United Bank Inc. now owns 28,264 shares of the aerospace company’s stock valued at $4,310,000 after buying an additional 1,791 shares in the last quarter. Institutional investors own 74.72% of the company’s stock.
Raytheon Company (NYSE:RTN) opened at 178.03 on Friday. The firm has a market capitalization of $51.67 billion, a PE ratio of 24.59 and a beta of 0.59. Raytheon Company has a 12-month low of $132.89 and a 12-month high of $181.05. The stock has a 50 day moving average price of $172.80 and a 200-day moving average price of $160.80.
Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.74 by $0.15. The business had revenue of $6.28 billion for the quarter, compared to analysts’ expectations of $6.24 billion. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.38 EPS. On average, equities research analysts forecast that Raytheon Company will post $7.59 EPS for the current year.
Several analysts have recently commented on RTN shares. BidaskClub raised Raytheon from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 12th. Buckingham Research raised their price target on Raytheon from $190.00 to $199.00 and gave the company a “buy” rating in a report on Friday, August 11th. Vetr cut Raytheon from a “buy” rating to a “hold” rating and set a $166.27 price target for the company. in a report on Tuesday, May 9th. Jefferies Group LLC reissued a “buy” rating and issued a $172.00 price target on shares of Raytheon in a report on Monday, June 26th. Finally, Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $175.00 price target for the company in a report on Monday, May 1st. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned 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, Chairman Thomas A. Kennedy sold 10,703 shares of the business’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $162.05, for a total value of $1,734,421.15. Following the sale, the chairman now directly owns 61,671 shares of the company’s stock, valued at approximately $9,993,785.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Taylor W. Lawrence sold 2,756 shares of the business’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $162.04, for a total transaction of $446,582.24. Following the completion of the sale, the vice president now directly owns 53,285 shares in the company, valued at $8,634,301.40. The disclosure for this sale can be found here. Insiders sold a total of 16,740 shares of company stock worth $2,730,129 over the last ninety days. 0.19% of the stock is currently owned by insiders.
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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