Louisiana State Employees Retirement System lowered its position in shares of Raytheon Co. (NYSE:RTN) by 2.5% during the second quarter, Holdings Channel reports. The firm owned 19,500 shares of the company’s stock after selling 500 shares during the period. Louisiana State Employees Retirement System’s holdings in Raytheon were worth $2,651,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RTN. Monetary Management Group Inc. increased its position in Raytheon by 840.0% in the first quarter. Monetary Management Group Inc. now owns 940 shares of the company’s stock worth $115,000 after buying an additional 840 shares during the period. Integrated Investment Consultants LLC increased 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 worth $154,000 after buying an additional 117 shares during the period. Foundry Partners LLC bought a new position in Raytheon during the second quarter worth approximately $201,000. Dowling & Yahnke LLC bought a new position in Raytheon during the second quarter worth approximately $203,000. Finally, Barry Investment Advisors LLC bought a new position in Raytheon during the second quarter worth approximately $206,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Shares of Raytheon Co. (NYSE:RTN) traded up 0.55% during trading on Monday, hitting $137.51. 803,475 shares of the stock traded hands. Raytheon Co. has a 1-year low of $102.78 and a 1-year high of $143.39. The company has a 50 day moving average of $140.25 and a 200-day moving average of $132.83. The company has a market cap of $40.58 billion, a PE ratio of 19.22 and a beta of 0.66.

Raytheon (NYSE:RTN) last announced its quarterly earnings results on Thursday, July 28th. The company reported $2.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.64. The firm had revenue of $6 billion for the quarter, compared to analyst estimates of $5.83 billion. Raytheon had a net margin of 9.02% and a return on equity of 19.26%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.65 EPS. On average, equities analysts anticipate that Raytheon Co. will post $7.41 EPS for the current fiscal year.

A number of research firms have recently issued reports on RTN. Jefferies Group restated a “buy” rating on shares of Raytheon in a research report on Wednesday, July 6th. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $151.00 price target on the stock in a research report on Monday, July 4th. Wells Fargo & Co. restated a “buy” rating on shares of Raytheon in a research report on Thursday, June 9th. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Raytheon in a research report on Tuesday, June 7th. Finally, Citigroup Inc. raised their price target on shares of Raytheon from $145.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, September 6th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $174.93.

In other news, Director Vernon E. Clark sold 2,540 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $141.01, for a total value of $358,165.40. Following the sale, the director now owns 7,246 shares in the company, valued at approximately $1,021,758.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is currently owned by insiders.

About Raytheon

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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