Shine Investment Advisory Services Inc. purchased a new position in shares of Raytheon Company (NYSE:RTN) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 863 shares of the aerospace company’s stock, valued at approximately $139,000.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Raytheon by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 21,910,520 shares of the aerospace company’s stock valued at $3,341,355,000 after purchasing an additional 989,986 shares during the period. BlackRock Inc. raised its position in shares of Raytheon by 2,166.0% during the 1st quarter. BlackRock Inc. now owns 19,407,819 shares of the aerospace company’s stock valued at $2,959,694,000 after purchasing an additional 18,551,353 shares during the period. State Street Corp raised its position in shares of Raytheon by 2.6% during the 1st quarter. State Street Corp now owns 12,585,731 shares of the aerospace company’s stock valued at $1,919,348,000 after purchasing an additional 313,435 shares during the period. Morgan Stanley raised its position in shares of Raytheon by 7.2% during the 1st quarter. Morgan Stanley now owns 4,491,454 shares of the aerospace company’s stock valued at $684,945,000 after purchasing an additional 302,274 shares during the period. Finally, Clearbridge Investments LLC raised its position in shares of Raytheon by 0.7% during the 1st quarter. Clearbridge Investments LLC now owns 3,527,842 shares of the aerospace company’s stock valued at $537,996,000 after purchasing an additional 23,172 shares during the period. Institutional investors and hedge funds own 73.82% of the company’s stock.

In related news, Director Robert E. Beauchamp bought 1,162 shares of the stock in a transaction on Monday, July 31st. The stock was bought 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 directly owns 4,303 shares in the company, valued at approximately $740,072.97. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Taylor W. Lawrence sold 3,791 shares of the stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $182.09, for a total transaction of $690,303.19. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,120 shares of company stock valued at $930,651. 0.19% of the stock is owned by company insiders.

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Raytheon Company (NYSE:RTN) opened at 182.50 on Wednesday. The stock has a market capitalization of $52.97 billion, a PE ratio of 25.21 and a beta of 0.58. The company’s 50 day moving average is $177.00 and its 200-day moving average is $163.12. Raytheon Company has a 1-year low of $132.89 and a 1-year high of $184.17.

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 Thomson Reuters’ 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 firm had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.24 billion. During the same period last year, the business earned $2.38 earnings per share. Raytheon’s revenue was up 4.2% compared to the same quarter last year. Analysts forecast that Raytheon Company will post $7.59 earnings per share for the current fiscal year.

Several analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, May 29th. Jefferies Group LLC restated a “buy” rating and set a $172.00 price objective on shares of Raytheon in a research report on Tuesday, May 23rd. Sanford C. Bernstein restated an “outperform” rating and set a $183.00 price objective (up from $180.00) on shares of Raytheon in a research report on Sunday, July 30th. Stifel Nicolaus restated a “buy” rating and set a $185.00 price objective (up from $175.00) on shares of Raytheon in a research report on Sunday, July 30th. Finally, Vetr downgraded shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price objective on the stock. in a research report on Tuesday, August 15th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $184.67.

Raytheon 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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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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