Raytheon Company (RTN) Shares Bought by Twin Capital Management Inc.
Twin Capital Management Inc. grew its stake in shares of Raytheon Company (NYSE:RTN) by 0.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,459 shares of the aerospace company’s stock after acquiring an additional 247 shares during the quarter. Twin Capital Management Inc.’s holdings in Raytheon were worth $5,403,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. St. Johns Investment Management Company LLC acquired a new position in shares of Raytheon during the 2nd quarter valued at about $113,000. Signature Estate & Investment Advisors LLC acquired a new position in shares of Raytheon during the 1st quarter valued at about $111,000. Jacobi Capital Management LLC increased its stake in shares of Raytheon by 271.1% during the 1st quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock valued at $114,000 after acquiring an additional 553 shares during the last quarter. Tarbox Family Office Inc. increased its stake in shares of Raytheon by 1,666.7% during the 2nd quarter. Tarbox Family Office Inc. now owns 795 shares of the aerospace company’s stock valued at $128,000 after acquiring an additional 750 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. acquired a new position in shares of Raytheon during the 2nd quarter valued at about $139,000. 73.75% of the stock is owned by institutional investors.
Raytheon Company (RTN) opened at 184.69 on Monday. Raytheon Company has a 12-month low of $132.89 and a 12-month high of $186.41. The firm has a 50-day moving average price of $179.06 and a 200-day moving average price of $164.34. The stock has a market cap of $53.61 billion, a PE ratio of 25.51 and a beta of 0.58.
Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.15. Raytheon had a return on equity of 20.74% and a net margin of 8.68%. The company had revenue of $6.28 billion during the quarter, compared to the consensus estimate of $6.24 billion. During the same period last year, the business earned $2.38 EPS. 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.
In related news, Director Vernon E. Clark sold 829 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was 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 approximately $1,367,281.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Taylor W. Lawrence sold 3,791 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $182.09, for a total value of $690,303.19. The disclosure for this sale can be found here. Insiders sold a total of 5,120 shares of company stock worth $930,651 over the last three months. 0.19% of the stock is owned by company insiders.
RTN has been the subject of a number of research analyst reports. Robert W. Baird reaffirmed an “outperform” rating and set a $212.00 price objective (up previously from $170.00) on shares of Raytheon in a research note on Thursday, August 10th. Vetr downgraded shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price objective for the company. in a research note on Wednesday, August 30th. Zacks Investment Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. BidaskClub downgraded shares of Raytheon from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Buckingham Research upped their price objective on shares of Raytheon from $190.00 to $199.00 and gave the company a “buy” rating in a research note on Friday, August 11th. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $186.14.
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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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