Geneva Advisors LLC Decreases Stake in Raytheon Company (RTN)
Geneva Advisors LLC lowered its position in shares of Raytheon Company (NYSE:RTN) by 0.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 256,115 shares of the aerospace company’s stock after selling 1,092 shares during the quarter. Geneva Advisors LLC owned about 0.09% of Raytheon worth $41,358,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the company. Guardian Life Insurance Co. of America grew its holdings in shares of 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 worth $173,000 after purchasing an additional 7 shares during the period. HM Capital Management LLC grew its holdings in shares of Raytheon by 0.5% during the 2nd quarter. HM Capital Management LLC now owns 2,025 shares of the aerospace company’s stock worth $327,000 after purchasing an additional 10 shares during the period. Ironwood Investment Management LLC grew its holdings in shares of Raytheon by 0.7% during the 2nd quarter. Ironwood Investment Management LLC now owns 2,475 shares of the aerospace company’s stock worth $400,000 after purchasing an additional 16 shares during the period. Pineno Levin & Ford Asset Management Inc. grew its holdings in shares of 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 worth $307,000 after purchasing an additional 16 shares during the period. Finally, Park National Corp OH grew its holdings in shares of Raytheon by 1.0% during the 2nd quarter. Park National Corp OH now owns 1,769 shares of the aerospace company’s stock worth $286,000 after purchasing an additional 18 shares during the period. Institutional investors and hedge funds own 73.75% of the company’s stock.
In related news, VP Taylor W. Lawrence sold 3,791 shares of Raytheon stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $182.09, for a total transaction of $690,303.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Frank R. Jimenez sold 500 shares of Raytheon stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $181.94, for a total value of $90,970.00. Following the sale, the vice president now directly owns 29,292 shares of the company’s stock, valued at $5,329,386.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,120 shares of company stock valued at $930,651. 0.19% of the stock is owned by insiders.
Several equities analysts recently commented on the company. BidaskClub raised Raytheon from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 12th. Buckingham Research boosted their price target on Raytheon from $190.00 to $199.00 and gave the stock a “buy” rating in a research report on Friday, August 11th. Argus reissued a “buy” rating and set a $195.00 price target (up from $175.00) on shares of Raytheon in a research report on Friday, August 4th. Morgan Stanley assumed coverage on Raytheon in a research report on Tuesday, August 8th. They set an “equal weight” rating and a $188.00 price target on the stock. Finally, Cowen and Company reissued an “outperform” rating and set a $189.00 price target (up from $182.00) on shares of Raytheon in a research report on Thursday, August 10th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Raytheon currently has a consensus rating of “Buy” and a consensus price target of $186.14.
Raytheon Company (NYSE RTN) opened at 183.76 on Tuesday. Raytheon Company has a 52 week low of $132.89 and a 52 week high of $186.41. The company’s 50-day moving average price is $179.06 and its 200-day moving average price is $164.34. The company has a market capitalization of $53.34 billion, a P/E ratio of 25.38 and a beta of 0.58.
Raytheon (NYSE:RTN) last released its earnings results on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.15. The company had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.24 billion. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the firm earned $2.38 EPS. On average, equities analysts forecast that Raytheon Company will post $7.59 EPS for the current fiscal year.
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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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