Bank of Nova Scotia lifted its holdings in Raytheon (NYSE:RTN) by 37.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 181,413 shares of the aerospace company’s stock after acquiring an additional 49,205 shares during the period. Bank of Nova Scotia’s holdings in Raytheon were worth $35,046,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the stock. Tiedemann Advisors LLC lifted its holdings in shares of Raytheon by 45.0% in the 2nd quarter. Tiedemann Advisors LLC now owns 7,061 shares of the aerospace company’s stock valued at $1,363,000 after acquiring an additional 2,191 shares during the last quarter. Verition Fund Management LLC bought a new position in shares of Raytheon in the 2nd quarter valued at about $4,101,000. Signature Financial Management Inc. bought a new position in shares of Raytheon in the 2nd quarter valued at about $211,000. California Public Employees Retirement System lifted its holdings in shares of Raytheon by 24.3% in the 2nd quarter. California Public Employees Retirement System now owns 878,744 shares of the aerospace company’s stock valued at $169,756,000 after acquiring an additional 171,733 shares during the last quarter. Finally, Argent Trust Co lifted its holdings in shares of Raytheon by 72.5% in the 2nd quarter. Argent Trust Co now owns 6,679 shares of the aerospace company’s stock valued at $1,290,000 after acquiring an additional 2,807 shares during the last quarter. 73.28% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently commented on RTN. UBS Group began coverage on shares of Raytheon in a report on Wednesday, August 15th. They issued a “buy” rating and a $250.00 price target for the company. Credit Suisse Group reaffirmed a “neutral” rating and issued a $219.00 price target (down previously from $250.00) on shares of Raytheon in a report on Tuesday, May 22nd. Zacks Investment Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a report on Wednesday, June 27th. Stifel Nicolaus lowered their price target on shares of Raytheon from $235.00 to $230.00 and set a “buy” rating for the company in a report on Friday, July 27th. Finally, ValuEngine downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Friday, June 15th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $224.29.

In other news, VP Taylor W. Lawrence sold 3,299 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $199.41, for a total transaction of $657,853.59. Following the transaction, the vice president now directly owns 44,220 shares of the company’s stock, valued at $8,817,910.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.

Shares of NYSE RTN opened at $205.01 on Tuesday. The company has a quick ratio of 1.51, a current ratio of 1.61 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $56.58 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 1.52 and a beta of 0.68. Raytheon has a 1 year low of $179.29 and a 1 year high of $229.75.

Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, July 26th. The aerospace company reported $2.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.32 by $0.46. The business had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $6.51 billion. Raytheon had a net margin of 9.24% and a return on equity of 24.01%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.98 earnings per share. sell-side analysts predict that Raytheon will post 9.93 earnings per share for the current fiscal year.

Raytheon Company Profile

Raytheon Company develops integrated products, services, and solutions for 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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