Private Advisor Group LLC trimmed its stake in shares of Raytheon (NYSE:RTN) by 12.3% during the second quarter, Holdings Channel.com reports. The firm owned 22,232 shares of the aerospace company’s stock after selling 3,120 shares during the period. Private Advisor Group LLC’s holdings in Raytheon were worth $3,866,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in RTN. Farmers National Bank acquired a new position in Raytheon in the first quarter valued at approximately $27,000. Semmax Financial Advisors Inc. lifted its holdings in Raytheon by 148.6% in the first quarter. Semmax Financial Advisors Inc. now owns 174 shares of the aerospace company’s stock valued at $32,000 after buying an additional 104 shares during the period. Weaver Consulting Group acquired a new position in Raytheon in the first quarter valued at approximately $36,000. Berman Capital Advisors LLC lifted its holdings in Raytheon by 74.6% in the second quarter. Berman Capital Advisors LLC now owns 220 shares of the aerospace company’s stock valued at $38,000 after buying an additional 94 shares during the period. Finally, Bremer Bank National Association acquired a new position in Raytheon in the first quarter valued at approximately $39,000. Institutional investors own 72.96% of the company’s stock.

Shares of RTN stock traded up $0.40 during trading hours on Thursday, hitting $200.71. 28,455 shares of the company were exchanged, compared to its average volume of 1,493,601. The business has a 50 day moving average of $185.72 and a two-hundred day moving average of $181.34. The company has a current ratio of 1.46, a quick ratio of 1.35 and a debt-to-equity ratio of 0.41. Raytheon has a 52 week low of $144.27 and a 52 week high of $210.89. The company has a market capitalization of $55.78 billion, a PE ratio of 18.91, a PEG ratio of 1.63 and a beta of 0.85.

Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, July 25th. The aerospace company reported $2.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $7.16 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter in the prior year, the firm earned $2.45 earnings per share. The firm’s revenue was up 8.1% compared to the same quarter last year. On average, research analysts forecast that Raytheon will post 11.73 EPS for the current year.

In other 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 transaction of $1,850,100.00. Following the completion of the sale, the vice president now owns 20,396 shares of the company’s stock, valued at $3,773,463.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Frank R. Jimenez sold 1,054 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $180.00, for a total transaction of $189,720.00. Following the sale, the vice president now directly owns 25,863 shares of the company’s stock, valued at approximately $4,655,340. The disclosure for this sale can be found here. Insiders have sold 13,969 shares of company stock valued at $2,622,820 in the last three months. 0.18% of the stock is owned by insiders.

Several brokerages have commented on RTN. Buckingham Research downgraded shares of Raytheon from a “buy” rating to a “neutral” rating and lowered their target price for the company from $265.00 to $195.00 in a research note on Monday, June 24th. JPMorgan Chase & Co. raised shares of Raytheon from a “neutral” rating to an “overweight” rating and upped their target price for the company from $225.00 to $230.00 in a research note on Monday. ValuEngine downgraded shares of Raytheon from a “hold” rating to a “sell” rating in a research note on Friday, June 28th. UBS Group upped their target price on shares of Raytheon from $205.00 to $215.00 and gave the company a “neutral” rating in a research note on Friday, September 13th. Finally, Vertical Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating and lowered their target price for the company from $216.00 to $203.00 in a research note on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $212.00.

About Raytheon

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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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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