Court Place Advisors LLC Has $1,947,000 Position in Raytheon Co. (RTN)
Court Place Advisors LLC held its stake in Raytheon Co. (NYSE:RTN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,325 shares of the company’s stock at the end of the second quarter. Raytheon comprises 1.1% of Court Place Advisors LLC’s investment portfolio, making the stock its 26th largest position. Court Place Advisors LLC’s holdings in Raytheon were worth $1,947,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. CHURCHILL MANAGEMENT Corp purchased a new position in Raytheon during the first quarter worth about $2,163,000. Skylands Capital LLC purchased a new position in Raytheon during the first quarter worth about $576,000. Campbell Newman Asset Management Inc. increased its position in Raytheon by 4.7% in the first quarter. Campbell Newman Asset Management Inc. now owns 126,132 shares of the company’s stock worth $15,468,000 after buying an additional 5,613 shares during the last quarter. TNB Financial increased its position in Raytheon by 177.4% in the first quarter. TNB Financial now owns 5,950 shares of the company’s stock worth $730,000 after buying an additional 3,805 shares during the last quarter. Finally, Koshinski Asset Management Inc. increased its position in Raytheon by 41.7% in the first quarter. Koshinski Asset Management Inc. now owns 3,227 shares of the company’s stock worth $396,000 after buying an additional 950 shares during the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.
Shares of Raytheon Co. (NYSE:RTN) traded up 0.11% on Tuesday, reaching $137.66. The company had a trading volume of 1,256,923 shares. The firm has a market capitalization of $40.62 billion, a P/E ratio of 19.24 and a beta of 0.66. The company’s 50-day moving average price is $140.18 and its 200 day moving average price is $132.92. Raytheon Co. has a 52 week low of $103.64 and a 52 week high of $143.39.
Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, July 28th. The company reported $2.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.74 by $0.64. Raytheon had a return on equity of 19.26% and a net margin of 9.02%. The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.83 billion. During the same quarter in the prior year, the business earned $1.65 EPS. Raytheon’s revenue was up 3.2% on a year-over-year basis. On average, analysts expect that Raytheon Co. will post $7.41 EPS for the current year.
A number of equities analysts have recently issued reports on RTN shares. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Raytheon in a research report on Tuesday, June 7th. Wells Fargo & Co. reissued a “buy” rating on shares of Raytheon in a research report on Thursday, June 9th. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $151.00 price target on the stock in a research report on Monday, July 4th. Jefferies Group reissued a “buy” rating on shares of Raytheon in a research report on Wednesday, July 6th. Finally, Stifel Nicolaus increased their price target on Raytheon from $140.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Raytheon currently has a consensus rating of “Buy” and an average target price of $174.93.
In other Raytheon news, Director Vernon E. Clark sold 2,540 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $141.01, for a total transaction of $358,165.40. Following the sale, the director now owns 7,246 shares in the company, valued at approximately $1,021,758.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.21% of the company’s stock.
Raytheon Company Profile
Raytheon Company (Raytheon), together with its subsidiaries, is a technology company. The Company develops technologically integrated products, services and solutions in various markets, such as sensing; effects; command, control, communications, computers, cyber and intelligence (C5I); mission support, and cybersecurity.
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