Canada Pension Plan Investment Board boosted its stake in shares of Raytheon Company (NYSE:RTN) by 6.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 156,200 shares of the aerospace company’s stock after purchasing an additional 8,900 shares during the period. Canada Pension Plan Investment Board owned approximately 0.05% of Raytheon worth $25,223,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Raytheon by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 21,910,520 shares of the aerospace company’s stock worth $3,341,355,000 after purchasing an additional 989,986 shares during the last quarter. BlackRock Inc. grew its position in Raytheon by 2,166.0% during the 1st quarter. BlackRock Inc. now owns 19,407,819 shares of the aerospace company’s stock worth $2,959,694,000 after purchasing an additional 18,551,353 shares during the last quarter. State Street Corp grew its position in Raytheon by 2.6% during the 1st quarter. State Street Corp now owns 12,585,731 shares of the aerospace company’s stock worth $1,919,348,000 after purchasing an additional 313,435 shares during the last quarter. Morgan Stanley grew its position in Raytheon by 7.2% during the 1st quarter. Morgan Stanley now owns 4,491,454 shares of the aerospace company’s stock worth $684,945,000 after purchasing an additional 302,274 shares during the last quarter. Finally, Clearbridge Investments LLC grew its position in Raytheon by 0.7% during the 1st quarter. Clearbridge Investments LLC now owns 3,527,842 shares of the aerospace company’s stock worth $537,996,000 after purchasing an additional 23,172 shares during the last quarter. 73.82% of the stock is currently owned by institutional investors.

In other news, Director Vernon E. Clark sold 829 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $180.19, for a total transaction of $149,377.51. Following the transaction, the director now directly owns 7,588 shares in the company, valued at $1,367,281.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert E. Beauchamp bought 1,162 shares of the stock in a transaction dated Monday, July 31st. The shares were acquired at an average price of $171.99 per share, for a total transaction of $199,852.38. Following the completion of the transaction, the director now owns 4,303 shares of the company’s stock, valued at approximately $740,072.97. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 5,120 shares of company stock worth $930,651. Insiders own 0.19% of the company’s stock.

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Raytheon Company (NYSE:RTN) opened at 180.49 on Thursday. The company has a 50 day moving average of $177.37 and a 200 day moving average of $163.33. The firm has a market capitalization of $52.39 billion, a PE ratio of 24.93 and a beta of 0.58. Raytheon Company has a 1-year low of $132.89 and a 1-year high of $184.17.

Raytheon (NYSE:RTN) last announced its earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.15. The business had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.24 billion. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the firm posted $2.38 earnings per share. Analysts forecast that Raytheon Company will post $7.59 EPS for the current year.

RTN has been the topic of several research analyst reports. Zacks Investment Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Friday, May 19th. Vetr raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $167.16 target price on the stock in a research report on Monday, May 22nd. Jefferies Group LLC reissued a “buy” rating and set a $172.00 target price on shares of Raytheon in a research report on Tuesday, May 23rd. Royal Bank Of Canada reissued a “buy” rating and set a $181.00 target price on shares of Raytheon in a research report on Friday, June 2nd. Finally, BidaskClub raised shares of Raytheon from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus 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.

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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