Fishman Jay A Ltd. MI Purchases 22,610 Shares of Raytheon Company (RTN)
Fishman Jay A Ltd. MI raised its position in shares of Raytheon Company (NYSE:RTN) by 31.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,392 shares of the aerospace company’s stock after purchasing an additional 22,610 shares during the period. Raytheon accounts for about 3.2% of Fishman Jay A Ltd. MI’s investment portfolio, making the stock its 11th largest position. Fishman Jay A Ltd. MI’s holdings in Raytheon were worth $15,242,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Raytheon by 4.7% in 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 acquiring an additional 989,986 shares in the last quarter. BlackRock Inc. raised its stake in shares of Raytheon by 2,166.0% in the 1st quarter. BlackRock Inc. now owns 19,407,819 shares of the aerospace company’s stock valued at $2,959,694,000 after acquiring an additional 18,551,353 shares in the last quarter. State Street Corp raised its stake in shares of Raytheon by 2.6% in 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 acquiring an additional 313,435 shares in the last quarter. Morgan Stanley raised its stake in shares of Raytheon by 7.2% in the 1st quarter. Morgan Stanley now owns 4,491,454 shares of the aerospace company’s stock valued at $684,945,000 after acquiring an additional 302,274 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of Raytheon by 0.7% in the 1st quarter. Clearbridge Investments LLC now owns 3,527,842 shares of the aerospace company’s stock valued at $537,996,000 after acquiring an additional 23,172 shares in the last quarter. 73.75% of the stock is owned by institutional investors.
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In other Raytheon news, VP Taylor W. Lawrence sold 3,791 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $182.09, for a total value of $690,303.19. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert E. Beauchamp acquired 1,162 shares of the company’s stock in a transaction on Monday, July 31st. The stock was acquired at an average price of $171.99 per share, for a total transaction of $199,852.38. Following the purchase, the director now directly owns 4,303 shares of the company’s stock, valued at $740,072.97. The disclosure for this purchase can be found here. Insiders sold 5,120 shares of company stock worth $930,651 in the last 90 days. Corporate insiders own 0.19% of the company’s stock.
A number of brokerages recently weighed in on RTN. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $204.00 price objective on the stock in a research note on Thursday. Vetr downgraded Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price objective on the stock. in a research note on Tuesday, August 15th. BidaskClub raised Raytheon from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Stifel Nicolaus reissued a “buy” rating and issued a $185.00 price objective (up from $175.00) on shares of Raytheon in a research note on Sunday, July 30th. Finally, Argus reissued a “buy” rating and issued a $195.00 price objective (up from $175.00) on shares of Raytheon in a research note on Friday, August 4th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $186.07.
Shares of Raytheon Company (NYSE RTN) opened at 182.50 on Monday. The firm has a 50-day moving average price of $178.41 and a 200-day moving average price of $163.78. Raytheon Company has a 12-month low of $132.89 and a 12-month high of $184.17. The firm has a market cap of $52.97 billion, a price-to-earnings ratio of 25.21 and a beta of 0.58.
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, beating the consensus estimate of $1.74 by $0.15. The firm had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.24 billion. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.38 earnings per share. Equities research analysts anticipate that Raytheon Company will post $7.59 EPS for the current year.
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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