Ballentine Partners LLC reduced its holdings in shares of Raytheon Company (NYSE:RTN) by 4.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,825 shares of the aerospace company’s stock after selling 88 shares during the period. Ballentine Partners LLC’s holdings in Raytheon were worth $308,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Guardian Life Insurance Co. of America lifted its position in Raytheon by 0.6% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,132 shares of the aerospace company’s stock valued at $173,000 after acquiring an additional 7 shares during the period. HM Capital Management LLC lifted its position in Raytheon by 0.5% during the 2nd quarter. HM Capital Management LLC now owns 2,025 shares of the aerospace company’s stock valued at $327,000 after acquiring an additional 10 shares during the period. Ironwood Investment Management LLC lifted its position in Raytheon by 0.7% during the 2nd quarter. Ironwood Investment Management LLC now owns 2,475 shares of the aerospace company’s stock valued at $400,000 after acquiring an additional 16 shares during the period. Pineno Levin & Ford Asset Management Inc. lifted its position in Raytheon by 0.8% during the 2nd quarter. Pineno Levin & Ford Asset Management Inc. now owns 1,903 shares of the aerospace company’s stock valued at $307,000 after acquiring an additional 16 shares during the period. Finally, Park National Corp OH lifted its position in Raytheon by 1.0% during the 2nd quarter. Park National Corp OH now owns 1,769 shares of the aerospace company’s stock valued at $286,000 after acquiring an additional 18 shares during the period. 73.75% of the stock is owned by institutional investors.

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In related news, Director Vernon E. Clark sold 829 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $180.19, for a total value of $149,377.51. Following the completion of the transaction, the director now directly owns 7,588 shares of the company’s stock, valued at approximately $1,367,281.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Taylor W. Lawrence sold 3,791 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $182.09, for a total transaction of $690,303.19. The disclosure for this sale can be found here. Insiders sold a total of 5,120 shares of company stock worth $930,651 over the last 90 days. Company insiders own 0.19% of the company’s stock.

Raytheon Company (NYSE RTN) opened at 183.25 on Wednesday. The firm has a 50-day moving average of $179.06 and a 200 day moving average of $164.34. Raytheon Company has a one year low of $132.89 and a one year high of $184.38. The stock has a market capitalization of $53.19 billion, a PE ratio of 25.31 and a beta of 0.58.

Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.15. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The business had revenue of $6.28 billion for the quarter, compared to analysts’ expectations of $6.24 billion. During the same period last year, the business earned $2.38 EPS. The company’s revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts anticipate that Raytheon Company will post $7.59 earnings per share for the current fiscal year.

A number of research analysts recently issued reports on RTN shares. Royal Bank Of Canada set a $193.00 price target on shares of Raytheon and gave the company a “buy” rating in a research report on Monday, August 28th. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $183.00 price target for the company in a research report on Tuesday, May 30th. Vetr cut shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price target for the company. in a research report on Wednesday, August 30th. ValuEngine raised shares of Raytheon from a “hold” rating to a “buy” rating in a research report on Monday, September 11th. Finally, BidaskClub raised shares of Raytheon from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $186.07.

Raytheon Company Profile

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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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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