Pekin Singer Strauss Asset Management IL reduced its stake in Raytheon Company (NYSE:RTN) by 0.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,784 shares of the aerospace company’s stock after selling 10 shares during the quarter. Pekin Singer Strauss Asset Management IL’s holdings in Raytheon were worth $450,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Raytheon by 4.7% during the first quarter. Vanguard Group Inc. now owns 21,910,520 shares of the aerospace company’s stock valued at $3,341,355,000 after acquiring an additional 989,986 shares in the last quarter. BlackRock Inc. grew its holdings in Raytheon by 2,166.0% during the first quarter. BlackRock Inc. now owns 19,407,819 shares of the aerospace company’s stock worth $2,959,694,000 after buying an additional 18,551,353 shares in the last quarter. State Street Corp grew its holdings in Raytheon by 2.6% during the first quarter. State Street Corp now owns 12,585,731 shares of the aerospace company’s stock worth $1,919,348,000 after buying an additional 313,435 shares in the last quarter. Morgan Stanley grew its holdings in Raytheon by 7.2% during the first quarter. Morgan Stanley now owns 4,491,454 shares of the aerospace company’s stock worth $684,945,000 after buying an additional 302,274 shares in the last quarter. Finally, Clearbridge Investments LLC grew its holdings in Raytheon by 0.7% during the first quarter. Clearbridge Investments LLC now owns 3,527,842 shares of the aerospace company’s stock worth $537,996,000 after buying an additional 23,172 shares in the last quarter. 73.82% of the stock is currently owned by institutional investors.

Several brokerages recently issued reports on RTN. Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $204.00 price target for the company in a report on Thursday. Vetr cut Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price target on the stock. in a research report on Tuesday, August 15th. BidaskClub raised Raytheon from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Stifel Nicolaus reaffirmed a “buy” rating and set a $185.00 price target (up previously from $175.00) on shares of Raytheon in a research report on Sunday, July 30th. Finally, Argus reissued a “buy” rating and set a $195.00 price objective (up previously from $175.00) on shares of Raytheon in a report on Friday, August 4th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $186.07.

In other news, VP Frank R. Jimenez sold 500 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $5,329,386.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Taylor W. Lawrence sold 3,791 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $182.09, for a total value of $690,303.19. The disclosure for this sale can be found here. Insiders have sold a total of 5,120 shares of company stock worth $930,651 over the last 90 days. Insiders own 0.19% of the company’s stock.

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Raytheon Company (NYSE:RTN) opened at 182.50 on Friday. Raytheon Company has a 12 month low of $132.89 and a 12 month high of $184.17. The stock has a 50 day moving average price of $178.41 and a 200 day moving average price of $163.78. The stock has a market capitalization of $52.97 billion, a P/E ratio of 25.21 and a beta of 0.58.

Raytheon (NYSE:RTN) last posted its earnings results on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.15. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The firm had revenue of $6.28 billion for the quarter, compared to analysts’ expectations of $6.24 billion. During the same period last year, the firm earned $2.38 EPS. The company’s quarterly revenue was up 4.2% on a year-over-year basis. Equities analysts predict that Raytheon Company will post $7.59 EPS for the current fiscal year.

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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