CenturyLink Investment Management Co decreased its position in Raytheon Company (NYSE:RTN) by 6.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,118 shares of the aerospace company’s stock after selling 563 shares during the period. CenturyLink Investment Management Co’s holdings in Raytheon were worth $1,311,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. BlackRock Inc. raised its position in 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 during the last quarter. Vanguard Group Inc. raised its position in 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 during the last quarter. Renaissance Technologies LLC raised its position in 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 during the last quarter. Independence Advisors LLC purchased a new position in Raytheon during the second quarter valued at about $28,551,000. Finally, MARSHALL WACE ASIA Ltd purchased a new position in Raytheon during the first quarter valued at about $58,030,000. Institutional investors own 73.83% of the company’s stock.

Raytheon Company (RTN) traded down 0.27% during midday trading on Wednesday, reaching $181.61. 549,213 shares of the company’s stock traded hands. The stock has a market cap of $52.71 billion, a P/E ratio of 25.08 and a beta of 0.59. Raytheon Company has a 52-week low of $132.89 and a 52-week high of $183.21. The company’s 50-day moving average price is $172.80 and its 200-day moving average price is $160.80.

Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 earnings per share for the quarter, topping 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 analyst estimates of $6.24 billion. During the same period in the prior year, the firm earned $2.38 earnings per share. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities analysts predict that Raytheon Company will post $7.59 EPS for the current fiscal year.

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RTN has been the topic of several recent analyst reports. Vetr lowered shares of Raytheon from a “buy” rating to a “hold” rating and set a $166.27 target price on the stock. in a report on Tuesday, May 9th. Zacks Investment Research lowered shares of Raytheon from a “buy” rating to a “hold” rating in a report on Friday, May 19th. Jefferies Group LLC restated a “buy” rating and issued a $172.00 target price on shares of Raytheon in a report on Tuesday, May 23rd. Royal Bank Of Canada restated a “buy” rating and issued a $181.00 target price on shares of Raytheon in a report on Friday, June 2nd. Finally, BidaskClub upgraded shares of Raytheon from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $183.76.

In related news, Chairman Thomas A. Kennedy sold 10,703 shares of the company’s stock in a transaction dated 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 completion of the sale, the chairman now directly owns 61,671 shares of the company’s stock, valued at $9,993,785.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Taylor W. Lawrence sold 2,756 shares of the company’s stock in a transaction dated Monday, June 5th. The stock was 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 of the company’s stock, valued at $8,634,301.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,730 shares of company stock valued at $2,565,398. 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.

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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