Raytheon Company (RTN) Shares Sold by Texas Permanent School Fund
Texas Permanent School Fund lessened its stake in shares of Raytheon Company (NYSE:RTN) by 4.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 81,785 shares of the aerospace company’s stock after selling 3,790 shares during the period. Texas Permanent School Fund’s holdings in Raytheon were worth $13,207,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lockheed Martin Investment Management Co. acquired a new position in shares of Raytheon during the 1st quarter worth about $1,830,000. Abner Herrman & Brock LLC raised its holdings in Raytheon by 8.2% in the 2nd quarter. Abner Herrman & Brock LLC now owns 77,617 shares of the aerospace company’s stock valued at $12,534,000 after acquiring an additional 5,866 shares during the last quarter. National Pension Service raised its holdings in Raytheon by 12.1% in the 2nd quarter. National Pension Service now owns 248,655 shares of the aerospace company’s stock valued at $39,892,000 after acquiring an additional 26,830 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its holdings in Raytheon by 13.9% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 6,720 shares of the aerospace company’s stock valued at $1,085,000 after acquiring an additional 820 shares during the last quarter. Finally, GHP Investment Advisors Inc. acquired a new stake in Raytheon in the 1st quarter valued at about $204,000. Hedge funds and other institutional investors own 73.82% of the company’s stock.
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Shares of Raytheon Company (NYSE RTN) opened at 180.25 on Thursday. The stock has a market cap of $52.32 billion, a PE ratio of 24.90 and a beta of 0.58. Raytheon Company has a 1-year low of $132.89 and a 1-year high of $184.17. The stock has a 50 day moving average of $175.90 and a 200 day moving average of $162.51.
Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, topping the 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 the consensus estimate of $6.24 billion. During the same period in the previous year, the firm earned $2.38 earnings per share. Raytheon’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities research analysts forecast that Raytheon Company will post $7.59 EPS for the current year.
In other Raytheon news, VP Taylor W. Lawrence sold 3,791 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $182.09, for a total transaction of $690,303.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert E. Beauchamp acquired 1,162 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were acquired at an average price of $171.99 per share, with a total value of $199,852.38. Following the completion of the purchase, the director now owns 4,303 shares of the company’s stock, valued at $740,072.97. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 5,120 shares of company stock valued at $930,651. 0.19% of the stock is owned by insiders.
RTN has been the subject of a number of recent research reports. Robert W. Baird reiterated an “outperform” rating and issued a $212.00 price objective (up previously from $170.00) on shares of Raytheon in a report on Thursday, August 10th. Vetr downgraded shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price objective for the company. in a report on Wednesday, August 30th. BidaskClub downgraded shares of Raytheon from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Buckingham Research increased their price objective on shares of Raytheon from $190.00 to $199.00 and gave the company a “buy” rating in a report on Friday, August 11th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $184.67.
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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