Appleton Partners Inc. MA Has $1.35 Million Position in Raytheon Company (RTN)
Appleton Partners Inc. MA raised its position in shares of Raytheon Company (NYSE:RTN) by 13.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 8,345 shares of the aerospace company’s stock after buying an additional 1,005 shares during the period. Appleton Partners Inc. MA’s holdings in Raytheon were worth $1,348,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of RTN. Lockheed Martin Investment Management Co. acquired a new stake in Raytheon during the first quarter worth $1,830,000. James Investment Research Inc. boosted its stake in Raytheon by 0.6% in the first quarter. James Investment Research Inc. now owns 68,346 shares of the aerospace company’s stock worth $10,422,000 after buying an additional 381 shares during the last quarter. GHP Investment Advisors Inc. acquired a new stake in Raytheon during the first quarter worth $204,000. Homrich & Berg boosted its stake in Raytheon by 20.4% in the first quarter. Homrich & Berg now owns 2,664 shares of the aerospace company’s stock worth $406,000 after buying an additional 451 shares during the last quarter. Finally, United Bank Inc. boosted its stake in Raytheon by 6.8% in the first quarter. United Bank Inc. now owns 28,264 shares of the aerospace company’s stock worth $4,310,000 after buying an additional 1,791 shares during the last quarter. 73.83% of the stock is currently owned by institutional investors and hedge funds.
Shares of Raytheon Company (NYSE RTN) traded up 1.81% during trading on Tuesday, hitting $181.46. 1,000,401 shares of the stock were exchanged. The firm has a market capitalization of $52.67 billion, a P/E ratio of 25.06 and a beta of 0.59. Raytheon Company has a 52 week low of $132.89 and a 52 week high of $182.05. The firm has a 50 day moving average price of $172.80 and a 200 day moving average price of $160.80.
Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.15. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The business had revenue of $6.28 billion for the quarter, compared to analysts’ expectations of $6.24 billion. During the same period last year, the business earned $2.38 earnings per share. The business’s quarterly revenue was up 4.2% on a year-over-year basis. Analysts forecast that Raytheon Company will post $7.59 EPS for the current fiscal year.
A number of equities analysts have commented on RTN shares. BidaskClub upgraded shares of 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 shares of Raytheon from $190.00 to $199.00 and gave the company a “buy” rating in a research report on Friday, August 11th. Vetr lowered shares of Raytheon from a “buy” rating to a “hold” rating and set a $166.27 price target on the stock. in a research report on Tuesday, May 9th. Jefferies Group LLC restated a “buy” rating and issued a $172.00 price target on shares of Raytheon in a research report on Monday, June 26th. Finally, Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $175.00 price target on the stock in a research report on Monday, May 1st. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $183.76.
In other Raytheon news, VP Wesley D. Kremer sold 1,010 shares of the stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $163.10, for a total transaction of $164,731.00. Following the transaction, the vice president now directly owns 23,136 shares in the company, valued at $3,773,481.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Vernon E. Clark sold 829 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $180.19, for a total transaction of $149,377.51. Following the transaction, the director now owns 7,588 shares in the company, valued at $1,367,281.72. The disclosure for this sale can be found here. Insiders have sold 16,740 shares of company stock worth $2,730,129 over the last quarter. Company insiders own 0.19% of the company’s stock.
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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