Webster Bank N. A. cut its stake in shares of Raytheon Company (NYSE:RTN) by 6.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,493 shares of the aerospace company’s stock after selling 110 shares during the period. Webster Bank N. A.’s holdings in Raytheon were worth $241,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sit Investment Associates Inc. boosted its position in Raytheon by 4.9% in the first quarter. Sit Investment Associates Inc. now owns 234,799 shares of the aerospace company’s stock valued at $35,807,000 after buying an additional 11,000 shares during the period. Meritage Portfolio Management boosted its position in Raytheon by 1.4% in the first quarter. Meritage Portfolio Management now owns 37,599 shares of the aerospace company’s stock valued at $5,734,000 after buying an additional 521 shares during the period. Founders Capital Management LLC boosted its position in Raytheon by 0.5% in the first quarter. Founders Capital Management LLC now owns 2,327 shares of the aerospace company’s stock valued at $355,000 after buying an additional 12 shares during the period. BTR Capital Management Inc. boosted its position in Raytheon by 40.3% in the first quarter. BTR Capital Management Inc. now owns 38,746 shares of the aerospace company’s stock valued at $5,909,000 after buying an additional 11,128 shares during the period. Finally, IFC Holdings Incorporated FL boosted its position in Raytheon by 14.4% in the first quarter. IFC Holdings Incorporated FL now owns 2,108 shares of the aerospace company’s stock valued at $322,000 after buying an additional 265 shares during the period. Institutional investors and hedge funds own 73.83% of the company’s stock.

Shares of Raytheon Company (NYSE RTN) traded down 0.06% during midday trading on Thursday, hitting $182.04. 536,744 shares of the company traded hands. Raytheon Company has a 12-month low of $132.89 and a 12-month high of $182.87. The stock has a market capitalization of $52.84 billion, a P/E ratio of 25.14 and a beta of 0.59. The stock’s 50-day moving average is $172.80 and its 200 day moving average is $160.80.

Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.15. The company had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.24 billion. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.38 earnings per share. On average, analysts expect that Raytheon Company will post $7.59 earnings per share for the current year.

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Several research analysts have recently issued reports on the stock. Vetr cut shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price objective for the company. in a report on Wednesday. BidaskClub upgraded shares of Raytheon from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 12th. Robert W. Baird reiterated an “outperform” rating and issued a $212.00 price objective (up from $170.00) on shares of Raytheon in a report on Thursday, August 10th. Cowen and Company reiterated an “outperform” rating and issued a $189.00 price objective (up from $182.00) on shares of Raytheon in a report on Thursday, August 10th. Finally, Royal Bank Of Canada set a $193.00 target price on shares of Raytheon and gave the stock a “buy” rating in a report on Monday. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $183.76.

In other news, Director Vernon E. Clark sold 829 shares of the 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 transaction, the director now directly owns 7,588 shares of the company’s stock, valued at $1,367,281.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Michael J. Wood sold 1,442 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $162.98, for a total transaction of $235,017.16. Following the completion of the transaction, the chief accounting officer now directly owns 18,470 shares in the company, valued at $3,010,240.60. The disclosure for this sale can be found here. Insiders sold 15,730 shares of company stock worth $2,565,398 over the last three months. Insiders own 0.19% of the company’s stock.

Raytheon Company Profile

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.

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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