Moneta Group Investment Advisors LLC Increases Stake in Raytheon (NYSE:RTN)
Moneta Group Investment Advisors LLC lifted its stake in shares of Raytheon (NYSE:RTN) by 44.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,761 shares of the aerospace company’s stock after acquiring an additional 1,158 shares during the period. Moneta Group Investment Advisors LLC’s holdings in Raytheon were worth $441,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farmers National Bank acquired a new stake in Raytheon during the first quarter worth about $27,000. Semmax Financial Advisors Inc. increased its position in Raytheon by 148.6% during the 1st quarter. Semmax Financial Advisors Inc. now owns 174 shares of the aerospace company’s stock worth $32,000 after purchasing an additional 104 shares in the last quarter. Weaver Consulting Group acquired a new stake in Raytheon during the 1st quarter worth approximately $36,000. Berman Capital Advisors LLC increased its position in Raytheon by 74.6% during the 2nd quarter. Berman Capital Advisors LLC now owns 220 shares of the aerospace company’s stock worth $38,000 after purchasing an additional 94 shares in the last quarter. Finally, Bremer Bank National Association purchased a new position in Raytheon in the first quarter valued at approximately $39,000. 73.08% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have weighed in on the stock. ValuEngine cut shares of Raytheon from a “hold” rating to a “sell” rating in a research report on Friday, June 28th. Buckingham Research lowered shares of Raytheon from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $265.00 to $195.00 in a research report on Monday, June 24th. Bank of America reissued a “buy” rating and issued a $265.00 target price (up previously from $224.00) on shares of Raytheon in a research note on Friday, July 26th. Stifel Nicolaus raised their target price on shares of Raytheon from $205.00 to $218.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Finally, Vertical Research lowered shares of Raytheon from a “buy” rating to a “hold” rating and reduced their target price for the company from $216.00 to $203.00 in a report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Raytheon currently has a consensus rating of “Buy” and an average price target of $209.80.
Raytheon (NYSE:RTN) last announced its earnings results on Thursday, July 25th. The aerospace company reported $2.92 earnings per share for the quarter, beating the consensus estimate of $2.61 by $0.31. Raytheon had a net margin of 10.96% and a return on equity of 26.34%. The business had revenue of $7.16 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same period in the prior year, the firm earned $2.45 earnings per share. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, sell-side analysts expect that Raytheon will post 11.73 earnings per share for the current fiscal year.
In other news, VP Frank R. Jimenez sold 1,054 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $180.00, for a total transaction of $189,720.00. Following the completion of the sale, the vice president now owns 25,863 shares of the company’s stock, valued at $4,655,340. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Randa G. Newsome sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $185.01, for a total transaction of $1,850,100.00. Following the sale, the vice president now directly owns 20,396 shares of the company’s stock, valued at approximately $3,773,463.96. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.
Raytheon Company develops integrated products, services, and solutions for the defense and other government markets worldwide. It operates through five segments: Integrated Defense Systems (IDS); Intelligence, Information and Services (IIS); Missile Systems (MS); Space and Airborne Systems (SAS); and Forcepoint.
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