Tyers Asset Management LLC reduced its stake in shares of Raytheon (NYSE:RTN) by 71.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,392 shares of the aerospace company’s stock after selling 8,672 shares during the period. Tyers Asset Management LLC’s holdings in Raytheon were worth $590,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Wright Investors Service Inc. raised its position in shares of Raytheon by 0.7% in the second quarter. Wright Investors Service Inc. now owns 8,826 shares of the aerospace company’s stock worth $1,534,000 after acquiring an additional 57 shares during the period. Altfest L J & Co. Inc. raised its position in shares of Raytheon by 0.8% in the second quarter. Altfest L J & Co. Inc. now owns 7,933 shares of the aerospace company’s stock worth $1,379,000 after acquiring an additional 64 shares during the period. Sequoia Financial Advisors LLC raised its position in shares of Raytheon by 3.3% in the second quarter. Sequoia Financial Advisors LLC now owns 1,991 shares of the aerospace company’s stock worth $346,000 after acquiring an additional 64 shares during the period. Brookmont Capital Management raised its position in shares of Raytheon by 0.3% in the second quarter. Brookmont Capital Management now owns 18,997 shares of the aerospace company’s stock worth $3,303,000 after acquiring an additional 66 shares during the period. Finally, Cornerstone Advisors Inc. raised its position in shares of Raytheon by 13.8% in the first quarter. Cornerstone Advisors Inc. now owns 595 shares of the aerospace company’s stock worth $108,000 after acquiring an additional 72 shares during the period. Institutional investors and hedge funds own 73.08% of the company’s stock.

In related news, VP Randa G. Newsome sold 10,000 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $185.01, for a total value of $1,850,100.00. Following the transaction, the vice president now directly owns 20,396 shares of the company’s stock, valued at approximately $3,773,463.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Frank R. Jimenez sold 1,054 shares of the stock in a transaction 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 transaction, the vice president now directly owns 25,863 shares in the company, valued at $4,655,340. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Shares of NYSE:RTN traded up $4.85 during trading hours on Friday, reaching $202.30. The stock had a trading volume of 74,104 shares, compared to its average volume of 1,436,589. Raytheon has a 1 year low of $144.27 and a 1 year high of $210.89. The firm’s 50 day moving average is $184.36 and its 200-day moving average is $180.91. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.35 and a current ratio of 1.46. The stock has a market capitalization of $55.53 billion, a price-to-earnings ratio of 19.06, a P/E/G ratio of 1.54 and a beta of 0.85.

Raytheon (NYSE:RTN) last posted its earnings results on Thursday, July 25th. The aerospace company reported $2.92 EPS for the quarter, beating the Zacks’ consensus estimate of $2.61 by $0.31. The firm had revenue of $7.16 billion for the quarter, compared to the consensus estimate of $7.02 billion. Raytheon had a net margin of 10.96% and a return on equity of 26.34%. The company’s revenue was up 8.1% on a year-over-year basis. During the same period last year, the firm posted $2.45 EPS. Analysts forecast that Raytheon will post 11.73 EPS for the current year.

RTN has been the subject of several research reports. ValuEngine cut shares of Raytheon from a “hold” rating to a “sell” rating in a research note on Friday, June 28th. UBS Group boosted their target price on shares of Raytheon from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Friday. Stifel Nicolaus upped their price objective on shares of Raytheon from $205.00 to $218.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Buckingham Research lowered shares of Raytheon from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $265.00 to $195.00 in a report on Monday, June 24th. Finally, Vertical Research lowered shares of Raytheon from a “buy” rating to a “hold” rating and reduced their target price for the stock from $216.00 to $203.00 in a report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $210.80.

Raytheon Profile

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.

Read More: Catch-Up Contributions

Want to see what other hedge funds are holding RTN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raytheon (NYSE:RTN).

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

Receive News & Ratings for Raytheon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon and related companies with MarketBeat.com's FREE daily email newsletter.