Private Capital Advisors Inc. Has $7.61 Million Position in Raytheon Company (RTN)
Private Capital Advisors Inc. reduced its position in shares of Raytheon Company (NYSE:RTN) by 4.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 47,153 shares of the aerospace company’s stock after selling 2,385 shares during the period. Raytheon comprises about 2.5% of Private Capital Advisors Inc.’s investment portfolio, making the stock its 7th largest position. Private Capital Advisors Inc.’s holdings in Raytheon were worth $7,614,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in RTN. Crestwood Advisors Group LLC acquired a new stake in shares of Raytheon during the first quarter worth about $110,000. Oakworth Capital Inc. boosted its stake in shares of Raytheon by 156.1% in the first quarter. Oakworth Capital Inc. now owns 730 shares of the aerospace company’s stock worth $111,000 after buying an additional 445 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Raytheon during the first quarter worth about $111,000. Jacobi Capital Management LLC boosted its stake in shares of Raytheon by 271.1% in the first quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock worth $114,000 after buying an additional 553 shares during the last quarter. Finally, Arrow Financial Corp boosted its stake in shares of Raytheon by 23.3% in the first quarter. Arrow Financial Corp now owns 900 shares of the aerospace company’s stock worth $137,000 after buying an additional 170 shares during the last quarter. 73.83% of the stock is owned by institutional investors.
Shares of Raytheon Company (RTN) traded up 0.06% on Friday, reaching $182.12. The company’s stock had a trading volume of 437,205 shares. The firm’s 50-day moving average price is $174.44 and its 200-day moving average price is $161.73. Raytheon Company has a 12 month low of $132.89 and a 12 month high of $182.31. The stock has a market cap of $52.86 billion, a P/E ratio of 25.15 and a beta of 0.59.
Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.15. The firm had revenue of $6.28 billion during the quarter, compared to the consensus estimate of $6.24 billion. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the company posted $2.38 EPS. On average, analysts forecast that Raytheon Company will post $7.59 earnings per share for the current fiscal year.
RTN has been the subject of a number of recent research reports. Vetr raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $167.16 target price for the company in a research report on Monday, May 22nd. BidaskClub raised shares of Raytheon from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Royal Bank Of Canada reissued a “buy” rating and issued a $181.00 target price on shares of Raytheon in a research report on Friday, June 2nd. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $183.00 target price for the company in a research report on Tuesday, May 30th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $172.00 target price on shares of Raytheon in a research report on Tuesday, May 23rd. 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 a consensus rating of “Buy” and an average target price of $183.76.
In other news, CAO Michael J. Wood sold 1,442 shares of Raytheon stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $162.98, for a total transaction of $235,017.16. Following the completion of the sale, the chief accounting officer now owns 18,470 shares in the company, valued at approximately $3,010,240.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Vernon E. Clark sold 829 shares of Raytheon stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $180.19, for a total value of $149,377.51. Following the sale, the director now owns 7,588 shares of the company’s stock, valued at approximately $1,367,281.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,730 shares of company stock valued at $2,565,398. Corporate 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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