Court Place Advisors LLC Has $1,947,000 Position in Raytheon Co. (RTN)
Court Place Advisors LLC held its stake in shares of Raytheon Co. (NYSE:RTN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,325 shares of the company’s stock at the end of the second quarter. Raytheon comprises approximately 1.1% of Court Place Advisors LLC’s holdings, 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.
A number of other large investors also recently modified their holdings of the company. Monetary Management Group Inc. increased its stake in shares of Raytheon by 840.0% in the first quarter. Monetary Management Group Inc. now owns 940 shares of the company’s stock valued at $115,000 after buying an additional 840 shares during the period. Integrated Investment Consultants LLC boosted its position in Raytheon by 11.5% in the second quarter. Integrated Investment Consultants LLC now owns 1,135 shares of the company’s stock valued at $154,000 after buying an additional 117 shares in the last quarter. Foundry Partners LLC acquired a new position in Raytheon during the second quarter valued at about $201,000. Dowling & Yahnke LLC acquired a new position in Raytheon during the second quarter valued at about $203,000. Finally, Barry Investment Advisors LLC acquired a new position in Raytheon during the second quarter valued at about $206,000. Institutional investors own 77.98% of the company’s stock.
Raytheon Co. (NYSE:RTN) traded up 0.11% during trading on Tuesday, reaching $137.66. The company had a trading volume of 1,256,923 shares. The company has a 50-day moving average of $140.18 and a 200-day moving average of $132.92. Raytheon Co. has a 52-week low of $103.64 and a 52-week high of $143.39. The firm has a market capitalization of $40.62 billion, a P/E ratio of 19.24 and a beta of 0.66.
Raytheon (NYSE:RTN) last announced its earnings results on Thursday, July 28th. The company reported $2.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.64. The business had revenue of $6 billion for the quarter, compared to analyst estimates of $5.83 billion. Raytheon had a return on equity of 19.26% and a net margin of 9.02%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.65 earnings per share. Analysts expect that Raytheon Co. will post $7.41 EPS for the current fiscal year.
Several research analysts have recently issued reports on RTN shares. Citigroup Inc. upped their price objective on Raytheon from $145.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, September 6th. Jefferies Group reaffirmed a “buy” rating on shares of Raytheon in a research report on Wednesday, July 6th. Deutsche Bank AG upped their price objective on Raytheon from $135.00 to $140.00 and gave the stock a “hold” rating in a research report on Friday, July 29th. Stifel Nicolaus upped their price objective on Raytheon from $140.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Finally, Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $151.00 price objective for the company in a research report on Monday, July 4th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $174.93.
In related news, Director Vernon E. Clark sold 2,540 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $141.01, for a total value of $358,165.40. Following the completion of the sale, the director now directly owns 7,246 shares of the company’s stock, valued at $1,021,758.46. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.21% of the stock is owned by corporate insiders.
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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