Raytheon Company (RTN) Position Increased by Deroy & Devereaux Private Investment Counsel Inc.
Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in shares of Raytheon Company (NYSE:RTN) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,917 shares of the aerospace company’s stock after buying an additional 360 shares during the period. Raytheon comprises 1.7% of Deroy & Devereaux Private Investment Counsel Inc.’s investment portfolio, making the stock its 24th largest position. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Raytheon were worth $14,681,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. St. Johns Investment Management Company LLC purchased a new stake in shares of Raytheon during the second quarter valued at about $113,000. Crestwood Advisors Group LLC purchased a new stake in shares of Raytheon during the first quarter valued at about $110,000. Oakworth Capital Inc. increased its stake in shares of 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 period. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Raytheon during the first quarter valued at about $111,000. Finally, Jacobi Capital Management LLC increased its stake in shares of 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 period. 73.83% of the stock is currently owned by institutional investors.
Shares of Raytheon Company (NYSE RTN) opened at 182.11 on Wednesday. The company has a market capitalization of $52.86 billion, a PE ratio of 25.15 and a beta of 0.59. The company has a 50-day moving average of $172.80 and a 200-day moving average of $160.80. Raytheon Company has a one year low of $132.89 and a one year high of $182.25.
Raytheon (NYSE:RTN) last announced its 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 company had revenue of $6.28 billion during the quarter, compared to the consensus estimate of $6.24 billion. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.38 earnings per share. On average, analysts anticipate that Raytheon Company will post $7.59 earnings per share for the current year.
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Several research firms have recently commented on RTN. Vetr cut shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price target on the stock. in a report on Wednesday. BidaskClub upgraded shares of Raytheon from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 12th. Buckingham Research boosted their price target on shares of Raytheon from $190.00 to $199.00 and gave the company a “buy” rating in a report 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 report on Friday, August 4th. Finally, Morgan Stanley began coverage on shares of Raytheon in a report on Tuesday, August 8th. They set an “equal weight” rating and a $188.00 price target on the stock. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Raytheon has an average rating of “Buy” and a consensus target price of $183.76.
In other news, VP Taylor W. Lawrence sold 2,756 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $162.04, for a total value of $446,582.24. Following the completion of the sale, the vice president now owns 53,285 shares in the company, valued at $8,634,301.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Thomas A. Kennedy sold 10,703 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $162.05, for a total transaction of $1,734,421.15. Following the completion of the sale, the chairman now owns 61,671 shares of the company’s stock, valued at approximately $9,993,785.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,730 shares of company stock valued at $2,565,398. 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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