Raytheon Company (RTN) Shares Bought by MAI Capital Management
MAI Capital Management boosted its stake in shares of Raytheon Company (NYSE:RTN) by 0.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,283 shares of the aerospace company’s stock after buying an additional 18 shares during the quarter. MAI Capital Management’s holdings in Raytheon were worth $11,672,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. St. Johns Investment Management Company LLC bought a new stake in shares of Raytheon in the 2nd quarter valued at about $113,000. Signature Estate & Investment Advisors LLC bought a new stake in shares of Raytheon in the 1st quarter valued at about $111,000. Jacobi Capital Management LLC raised its holdings in shares of Raytheon by 271.1% in the 1st quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock valued at $114,000 after purchasing an additional 553 shares in the last quarter. Tarbox Family Office Inc. raised its holdings in shares of Raytheon by 1,666.7% in the 2nd quarter. Tarbox Family Office Inc. now owns 795 shares of the aerospace company’s stock valued at $128,000 after purchasing an additional 750 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. bought a new stake in shares of Raytheon in the 2nd quarter valued at about $139,000. Institutional investors own 73.75% of the company’s stock.
Raytheon Company (NYSE:RTN) opened at 184.69 on Monday. Raytheon Company has a 1-year low of $132.89 and a 1-year high of $186.41. The company’s 50 day moving average is $179.06 and its 200 day moving average is $164.34. The company has a market cap of $53.61 billion, a price-to-earnings ratio of 25.51 and a beta of 0.58.
Raytheon (NYSE:RTN) last issued its earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.15. The firm had revenue of $6.28 billion for the quarter, compared to analysts’ expectations of $6.24 billion. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.38 earnings per share. Equities research analysts forecast that Raytheon Company will post $7.59 EPS for the current year.
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RTN has been the subject of several recent research reports. Zacks Investment Research lowered shares of Raytheon from a “buy” rating to a “hold” rating in a report on Monday, May 29th. Vetr upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $170.66 price target for the company in a report on Thursday, June 1st. Royal Bank Of Canada restated a “buy” rating and issued a $181.00 price target on shares of Raytheon in a report on Friday, June 2nd. BidaskClub upgraded shares of Raytheon from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $172.00 price target on shares of Raytheon in a report on Monday, June 26th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $186.14.
In other news, Director Robert E. Beauchamp bought 1,162 shares of Raytheon stock in a transaction that occurred on Monday, July 31st. The shares were purchased at an average price of $171.99 per share, with a total value of $199,852.38. Following the completion of the acquisition, the director now directly owns 4,303 shares in the company, valued at $740,072.97. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the sale, the director now directly owns 7,588 shares in the company, valued at approximately $1,367,281.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,120 shares of company stock worth $930,651. 0.19% of the stock is owned by corporate insiders.
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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