Tower Research Capital LLC TRC increased its stake in shares of Raytheon (NYSE:RTN) by 258.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,361 shares of the aerospace company’s stock after acquiring an additional 13,236 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Raytheon were worth $3,193,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. BlackRock Inc. increased its stake in Raytheon by 2.3% in the first quarter. BlackRock Inc. now owns 23,365,818 shares of the aerospace company’s stock valued at $4,254,449,000 after purchasing an additional 527,708 shares during the period. Amundi Pioneer Asset Management Inc. increased its stake in Raytheon by 7.3% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 4,165,178 shares of the aerospace company’s stock valued at $758,397,000 after purchasing an additional 284,688 shares during the period. Geode Capital Management LLC increased its stake in Raytheon by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 3,729,683 shares of the aerospace company’s stock valued at $570,952,000 after purchasing an additional 186,460 shares during the period. Clearbridge Investments LLC increased its stake in Raytheon by 1.6% in the first quarter. Clearbridge Investments LLC now owns 3,018,011 shares of the aerospace company’s stock valued at $549,519,000 after purchasing an additional 47,460 shares during the period. Finally, LSV Asset Management increased its stake in Raytheon by 829.0% in the first quarter. LSV Asset Management now owns 2,129,350 shares of the aerospace company’s stock valued at $387,712,000 after purchasing an additional 1,900,150 shares during the period. Hedge funds and other institutional investors own 73.08% of the company’s stock.
A number of research firms have commented on RTN. ValuEngine lowered shares of Raytheon from a “hold” rating to a “sell” rating in a research note on Friday, June 28th. UBS Group lifted their target price on shares of Raytheon from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Friday. Vertical Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating and lowered their target price for the company from $216.00 to $203.00 in a report on Tuesday, June 11th. Bank of America reaffirmed a “buy” rating and issued a $265.00 target price (up previously from $224.00) on shares of Raytheon in a report on Friday, July 26th. Finally, Stifel Nicolaus lifted their target price on shares of Raytheon from $205.00 to $218.00 and gave the company a “buy” rating in a report on Monday, June 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $210.80.
Shares of NYSE:RTN traded up $1.70 during midday trading on Friday, hitting $199.15. The stock had a trading volume of 114,860 shares, compared to its average volume of 1,436,589. The company has a market capitalization of $55.53 billion, a PE ratio of 18.76, a P/E/G ratio of 1.54 and a beta of 0.85. The stock has a 50 day moving average price of $184.36 and a two-hundred day moving average price of $180.91. The company has a current ratio of 1.46, a quick ratio of 1.35 and a debt-to-equity ratio of 0.41. Raytheon has a 1 year low of $144.27 and a 1 year high of $210.89.
Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, July 25th. The aerospace company reported $2.92 EPS for the quarter, topping analysts’ consensus estimates of $2.61 by $0.31. The firm had revenue of $7.16 billion for the quarter, compared to the consensus estimate of $7.02 billion. Raytheon had a net margin of 10.96% and a return on equity of 26.34%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.45 earnings per share. As a group, equities analysts expect that Raytheon will post 11.73 EPS for the current year.
Raytheon Company Profile
Raytheon Company develops integrated products, services, and solutions for the 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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