HRT Financial LLC bought a new stake in Raytheon (NYSE:RTN) in the second quarter, HoldingsChannel reports. The institutional investor bought 2,192 shares of the aerospace company’s stock, valued at approximately $423,000.
Several other large investors have also made changes to their positions in RTN. Charles Schwab Investment Advisory Inc. purchased a new stake in shares of Raytheon in the second quarter valued at about $230,415,000. Wells Fargo & Company MN increased its stake in shares of Raytheon by 45.2% during the second quarter. Wells Fargo & Company MN now owns 2,698,919 shares of the aerospace company’s stock worth $521,378,000 after acquiring an additional 840,321 shares during the period. Putnam Investments LLC increased its stake in shares of Raytheon by 49.8% during the second quarter. Putnam Investments LLC now owns 2,154,197 shares of the aerospace company’s stock worth $416,148,000 after acquiring an additional 716,446 shares during the period. Morgan Stanley increased its stake in shares of Raytheon by 16.4% during the second quarter. Morgan Stanley now owns 3,268,371 shares of the aerospace company’s stock worth $631,383,000 after acquiring an additional 461,461 shares during the period. Finally, American Century Companies Inc. acquired a new position in shares of Raytheon during the second quarter worth about $85,666,000. 72.78% of the stock is owned by institutional investors and hedge funds.
Shares of RTN opened at $203.46 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.51 and a debt-to-equity ratio of 0.45. Raytheon has a twelve month low of $179.29 and a twelve month high of $229.75. The stock has a market cap of $58.53 billion, a price-to-earnings ratio of 26.71, a P/E/G ratio of 1.57 and a beta of 0.68.
Raytheon (NYSE:RTN) last issued its earnings results on Thursday, July 26th. The aerospace company reported $2.78 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $6.51 billion. During the same period in the prior year, the business posted $1.98 earnings per share. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. equities analysts anticipate that Raytheon will post 9.93 EPS for the current year.
In other Raytheon news, VP Taylor W. Lawrence sold 3,299 shares of the company’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $199.41, for a total transaction of $657,853.59. Following the transaction, the vice president now directly owns 44,220 shares in the company, valued at $8,817,910.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.19% of the company’s stock.
RTN has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $224.00 price target on the stock in a research note on Wednesday, July 18th. UBS Group initiated coverage on shares of Raytheon in a research note on Wednesday, August 15th. They set a “buy” rating and a $250.00 price target on the stock. Stifel Nicolaus dropped their price target on shares of Raytheon from $235.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, July 27th. Morgan Stanley dropped their price target on shares of Raytheon from $239.00 to $228.00 and set an “overweight” rating on the stock in a research note on Thursday, July 12th. Finally, ValuEngine lowered shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Friday, June 15th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price 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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