Raytheon Company (RTN) Shares Sold by Heritage Investors Management Corp
Heritage Investors Management Corp cut its stake in Raytheon Company (NYSE:RTN) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,364 shares of the aerospace company’s stock after selling 160 shares during the period. Heritage Investors Management Corp’s holdings in Raytheon were worth $2,481,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the company. Crestwood Advisors Group LLC bought a new stake in shares of Raytheon during the first quarter valued at approximately $110,000. Oakworth Capital Inc. raised its position in Raytheon by 156.1% in the first quarter. Oakworth Capital Inc. now owns 730 shares of the aerospace company’s stock valued at $111,000 after buying an additional 445 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in Raytheon during the first quarter valued at about $111,000. Jacobi Capital Management LLC raised its position in Raytheon by 271.1% in the first quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock valued at $114,000 after buying an additional 553 shares during the last quarter. Finally, Arrow Financial Corp raised its position in Raytheon by 23.3% in the first quarter. Arrow Financial Corp now owns 900 shares of the aerospace company’s stock valued at $137,000 after buying an additional 170 shares during the last quarter. Institutional investors and hedge funds own 73.83% of the company’s stock.
Shares of Raytheon Company (NYSE RTN) traded up 0.0576% during mid-day trading on Monday, hitting $178.1325. 173,145 shares of the stock traded hands. Raytheon Company has a 12-month low of $132.89 and a 12-month high of $181.05. The firm’s 50 day moving average price is $172.80 and its 200 day moving average price is $160.81. The firm has a market cap of $51.70 billion, a price-to-earnings ratio of 24.6039 and a beta of 0.59.
Raytheon (NYSE:RTN) last posted its earnings results on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, beating the Zacks’ consensus estimate 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 quarter in the prior year, the company posted $2.38 earnings per share. Raytheon’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities research analysts predict that Raytheon Company will post $7.59 EPS for the current fiscal year.
Several brokerages recently weighed in on RTN. BidaskClub downgraded shares of Raytheon from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 19th. Vetr downgraded shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 target price for the company. in a research report on Tuesday, August 15th. Buckingham Research boosted their price objective on shares of Raytheon from $190.00 to $199.00 and gave the company a “buy” rating in a research report on Friday, August 11th. Cowen and Company reissued an “outperform” rating and set a $189.00 price objective (up previously from $182.00) on shares of Raytheon in a research report on Thursday, August 10th. Finally, Robert W. Baird reissued an “outperform” rating and set a $212.00 price objective (up previously from $170.00) on shares of Raytheon in a research report on Thursday, August 10th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $183.01.
In related news, Director Vernon E. Clark sold 829 shares of the stock in a transaction that occurred on 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 sale, the director now owns 7,588 shares of the company’s stock, valued at $1,367,281.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert E. Beauchamp bought 1,162 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were purchased at an average cost of $171.99 per share, with a total value of $199,852.38. Following the transaction, the director now directly owns 4,303 shares of the company’s stock, valued at $740,072.97. The disclosure for this purchase can be found here. Insiders have sold 16,740 shares of company stock valued at $2,730,129 in the last three months. 0.19% of the stock is currently owned by corporate 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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