Raytheon Co. (RTN) Position Reduced by Seaward Management Limited Partnership
Seaward Management Limited Partnership cut its stake in Raytheon Co. (NYSE:RTN) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,939 shares of the company’s stock after selling 200 shares during the period. Seaward Management Limited Partnership’s holdings in Raytheon were worth $4,749,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the company. Monetary Management Group Inc. increased its stake in 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 increased its stake 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 during the period. Foundry Partners LLC bought a new stake in Raytheon during the second quarter valued at approximately $201,000. Dowling & Yahnke LLC bought a new stake in Raytheon during the second quarter valued at approximately $203,000. Finally, Barry Investment Advisors LLC bought a new stake in Raytheon during the second quarter valued at approximately $206,000. 77.90% of the stock is currently owned by institutional investors and hedge funds.
Raytheon Co. (NYSE:RTN) traded up 1.06% during mid-day trading on Wednesday, hitting $139.12. The company had a trading volume of 1,407,164 shares. Raytheon Co. has a 12 month low of $103.64 and a 12 month high of $143.39. The company has a 50-day moving average price of $140.12 and a 200 day moving average price of $132.96. The firm has a market capitalization of $41.05 billion, a P/E ratio of 19.44 and a beta of 0.66.
Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, July 28th. The company reported $2.38 EPS for the quarter, topping the Zacks’ 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 earned $6 billion during the quarter, compared to analysts’ expectations of $5.83 billion. During the same quarter in the previous year, the firm posted $1.65 EPS. The firm’s revenue was up 3.2% compared to the same quarter last year. Equities analysts forecast that Raytheon Co. will post $7.41 EPS for the current fiscal year.
A number of brokerages have recently issued reports on RTN. Jefferies Group upped their price target on Raytheon from $145.00 to $158.00 and gave the company a “buy” rating in a report on Friday, July 29th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $151.00 price target on shares of Raytheon in a report on Friday, July 29th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of Raytheon in a report on Tuesday, June 7th. 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 report on Monday, July 4th. Finally, JPMorgan Chase & Co. set a $145.00 price target on Raytheon and gave the company a “buy” rating in a report on Friday, July 29th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $174.93.
In other Raytheon news, Director Vernon E. Clark sold 2,540 shares of Raytheon 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 completion of the sale, the director now owns 7,246 shares of the company’s stock, valued at approximately $1,021,758.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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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