Envestnet Asset Management Inc. increased its holdings in shares of Raytheon (NYSE:RTN) by 1.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 34,008 shares of the aerospace company’s stock after purchasing an additional 353 shares during the period. Envestnet Asset Management Inc.’s holdings in Raytheon were worth $6,570,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of RTN. Rainier Group Investment Advisory LLC bought a new stake in shares of Raytheon during the first quarter worth approximately $103,000. Lipe & Dalton bought a new stake in shares of Raytheon during the first quarter worth approximately $108,000. Squar Milner Financial Services LLC bought a new stake in shares of Raytheon during the second quarter worth approximately $100,000. Clarus Wealth Advisors bought a new stake in shares of Raytheon during the second quarter worth approximately $113,000. Finally, Stelac Advisory Services LLC bought a new stake in shares of Raytheon during the first quarter worth approximately $136,000. Institutional investors and hedge funds own 73.36% of the company’s stock.
NYSE RTN opened at $200.38 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.61 and a quick ratio of 1.51. Raytheon has a 1-year low of $179.29 and a 1-year high of $229.75. The company has a market capitalization of $57.68 billion, a PE ratio of 23.38, a price-to-earnings-growth ratio of 1.55 and a beta of 0.68.
Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, July 26th. The aerospace company reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.46. Raytheon had a net margin of 9.24% and a return on equity of 24.01%. The company had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $6.51 billion. During the same period in the previous year, the business earned $1.98 earnings per share. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. sell-side analysts anticipate that Raytheon will post 9.93 earnings per share for the current year.
In other news, VP Taylor W. Lawrence sold 3,299 shares of Raytheon stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $199.41, for a total value of $657,853.59. Following the completion of the sale, the vice president now directly owns 44,220 shares in the company, valued at $8,817,910.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.19% of the stock is currently owned by insiders.
A number of equities research analysts have recently issued reports on the company. Zacks Investment Research cut Raytheon from a “buy” rating to a “hold” rating in a report on Wednesday, June 27th. ValuEngine cut Raytheon from a “buy” rating to a “hold” rating in a report on Friday, June 15th. Morgan Stanley reduced their price objective on Raytheon from $239.00 to $228.00 and set an “overweight” rating for the company in a report on Thursday, July 12th. Credit Suisse Group restated a “neutral” rating and set a $219.00 price objective (down previously from $250.00) on shares of Raytheon in a report on Tuesday, May 22nd. Finally, UBS Group assumed coverage on Raytheon in a report on Wednesday, August 15th. They set a “buy” rating and a $250.00 price objective for the company. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Raytheon has an average rating of “Buy” and a consensus price target of $224.29.
Raytheon Company develops integrated products, services, and solutions for defense and other government markets worldwide. It operates through five segments: Integrated Defense Systems (IDS); Intelligence, Information and Services (IIS); Missile Systems (MS); Space and Airborne Systems (SAS); and Forcepoint.
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