Cadinha & Co. LLC Has $17.49 Million Holdings in Raytheon Company (RTN)
Cadinha & Co. LLC boosted its position in shares of Raytheon Company (NYSE:RTN) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,330 shares of the aerospace company’s stock after purchasing an additional 213 shares during the period. Raytheon makes up 3.1% of Cadinha & Co. LLC’s holdings, making the stock its 13th biggest holding. Cadinha & Co. LLC’s holdings in Raytheon were worth $17,493,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Reynders McVeigh Capital Management LLC acquired a new stake in shares of Raytheon during the first quarter valued at about $201,000. Dowling & Yahnke LLC acquired a new stake in shares of Raytheon during the first quarter valued at about $11,845,000. Lourd Capital LLC acquired a new stake in shares of Raytheon during the first quarter valued at about $217,000. LaFleur & Godfrey LLC acquired a new stake in shares of Raytheon during the first quarter valued at about $17,324,000. Finally, Verity & Verity LLC increased its position in shares of Raytheon by 3.7% during the first quarter. Verity & Verity LLC now owns 36,288 shares of the aerospace company’s stock valued at $5,534,000 after acquiring an additional 1,308 shares during the last quarter. 73.82% of the stock is currently owned by institutional investors.
Raytheon Company (NYSE RTN) opened at 180.49 on Thursday. The firm has a market cap of $52.39 billion, a PE ratio of 24.93 and a beta of 0.58. The company has a 50 day moving average of $177.37 and a 200-day moving average of $163.33. Raytheon Company has a one year low of $132.89 and a one year high of $184.17.
Raytheon (NYSE:RTN) last posted its earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.15. The firm 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 company’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.38 EPS. On average, equities research analysts predict that Raytheon Company will post $7.59 earnings per share for the current year.
A number of equities research analysts have weighed in on RTN shares. Vetr upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $167.16 price target for the company in a research report on Monday, May 22nd. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $181.00 price target for the company in a research report on Tuesday, May 23rd. Jefferies Group LLC reiterated a “buy” rating and set a $172.00 price target on shares of Raytheon in a research report on Tuesday, May 23rd. BidaskClub upgraded shares of Raytheon from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $181.00 price target on shares of Raytheon in a research report on Friday, June 2nd. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $184.67.
In related news, VP Taylor W. Lawrence sold 3,791 shares of the 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 is available at the SEC website. Also, VP Frank R. Jimenez sold 500 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $181.94, for a total transaction of $90,970.00. Following the sale, the vice president now directly owns 29,292 shares of the company’s stock, valued at approximately $5,329,386.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,120 shares of company stock valued at $930,651. Corporate insiders own 0.19% of the company’s stock.
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.
Want to see what other hedge funds are holding RTN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raytheon Company (NYSE:RTN).
Receive News & Stock Ratings for Raytheon Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon Company and related stocks with our FREE daily email newsletter.