Montgomery Investment Management Inc. maintained its position in shares of Raytheon Company (NYSE:RTN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,000 shares of the aerospace company’s stock at the end of the 2nd quarter. Montgomery Investment Management Inc.’s holdings in Raytheon were worth $1,615,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Summit Financial Group Inc. purchased a new stake in Raytheon in the 2nd quarter valued at about $1,066,000. Shine Investment Advisory Services Inc. purchased a new stake in Raytheon in the 2nd quarter valued at about $139,000. Legacy Capital Partners Inc. boosted its position in Raytheon by 15.7% in the 2nd quarter. Legacy Capital Partners Inc. now owns 6,193 shares of the aerospace company’s stock valued at $1,000,000 after buying an additional 839 shares during the period. Global X Management Co. LLC boosted its position in Raytheon by 29.2% in the 2nd quarter. Global X Management Co. LLC now owns 1,555 shares of the aerospace company’s stock valued at $251,000 after buying an additional 351 shares during the period. Finally, Seaward Management Limited Partnership boosted its position in Raytheon by 0.9% in the 2nd quarter. Seaward Management Limited Partnership now owns 31,389 shares of the aerospace company’s stock valued at $5,068,000 after buying an additional 295 shares during the period. 73.82% of the stock is owned by institutional investors.
Several equities research analysts have issued reports on RTN shares. Zacks Investment Research cut shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Friday, May 19th. Vetr raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $167.16 price objective for the company in a research report on Monday, May 22nd. Jefferies Group LLC reissued a “buy” rating and issued a $172.00 price objective on shares of Raytheon in a research report on Tuesday, May 23rd. Royal Bank Of Canada reissued a “buy” rating and issued a $181.00 price objective on shares of Raytheon in a research report on Friday, June 2nd. Finally, BidaskClub raised shares of Raytheon from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $184.67.
Raytheon Company (RTN) opened at 182.50 on Wednesday. The company’s 50 day moving average is $177.00 and its 200 day moving average is $163.12. The company has a market cap of $52.97 billion, a price-to-earnings ratio of 25.21 and a beta of 0.58. Raytheon Company has a 1-year low of $132.89 and a 1-year high of $184.17.
Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.15. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The business had revenue of $6.28 billion during the quarter, compared to analyst estimates of $6.24 billion. During the same quarter last year, the firm posted $2.38 earnings per share. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. Equities research analysts forecast that Raytheon Company will post $7.59 EPS for the current year.
In related news, VP Taylor W. Lawrence sold 3,791 shares of Raytheon 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert E. Beauchamp purchased 1,162 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was purchased at an average price of $171.99 per share, with a total value of $199,852.38. Following the purchase, the director now directly owns 4,303 shares of the company’s stock, valued at $740,072.97. The disclosure for this purchase can be found here. In the last three months, insiders sold 5,120 shares of company stock valued at $930,651. Insiders own 0.19% of the company’s stock.
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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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