Pinnacle Financial Partners Inc. grew its holdings in shares of Raytheon Company (NYSE:RTN) by 24.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,091 shares of the aerospace company’s stock after purchasing an additional 411 shares during the period. Pinnacle Financial Partners Inc.’s holdings in Raytheon were worth $337,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of RTN. LaFleur & Godfrey LLC purchased a new stake in Raytheon during the first quarter worth about $17,324,000. Verity & Verity LLC increased its stake in shares of Raytheon by 3.7% during the first quarter. Verity & Verity LLC now owns 36,288 shares of the aerospace company’s stock worth $5,534,000 after buying an additional 1,308 shares during the period. Arrow Financial Corp increased its stake in shares of Raytheon by 23.3% during the first quarter. Arrow Financial Corp now owns 900 shares of the aerospace company’s stock worth $137,000 after buying an additional 170 shares during the period. Linscomb & Williams Inc. increased its stake in shares of Raytheon by 6.0% during the first quarter. Linscomb & Williams Inc. now owns 1,704 shares of the aerospace company’s stock worth $260,000 after buying an additional 96 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Raytheon by 2.1% during the first quarter. Wells Fargo & Company MN now owns 2,716,704 shares of the aerospace company’s stock worth $414,298,000 after buying an additional 56,466 shares during the period. Institutional investors own 73.82% of the company’s stock.
Raytheon Company (NYSE RTN) opened at 182.50 on Friday. The company has a 50-day moving average price of $178.41 and a 200-day moving average price of $163.78. Raytheon Company has a one year low of $132.89 and a one year high of $184.17. The firm has a market capitalization of $52.97 billion, a P/E ratio of 25.21 and a beta of 0.58.
Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, topping the 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 for the quarter, compared to the consensus estimate of $6.24 billion. During the same period in the previous year, the business earned $2.38 EPS. Raytheon’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities research analysts anticipate that Raytheon Company will post $7.59 EPS for the current year.
In other Raytheon news, VP Taylor W. Lawrence sold 3,791 shares of Raytheon stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $182.09, for a total transaction of $690,303.19. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert E. Beauchamp acquired 1,162 shares of the company’s stock in a transaction on Monday, July 31st. The shares were acquired at an average price of $171.99 per share, for a total transaction of $199,852.38. Following the completion of the acquisition, the director now directly owns 4,303 shares in the company, valued at $740,072.97. The disclosure for this purchase can be found here. Insiders have sold a total of 5,120 shares of company stock worth $930,651 over the last 90 days. 0.19% of the stock is owned by company insiders.
A number of analysts recently weighed in on the stock. ValuEngine upgraded shares of Raytheon from a “hold” rating to a “buy” rating in a research note on Monday, September 11th. Vetr lowered shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 target price on the stock. in a research note on Wednesday, August 30th. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $204.00 target price on the stock in a research note on Thursday. BidaskClub upgraded shares of Raytheon from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 12th. Finally, Robert W. Baird restated an “outperform” rating and set a $212.00 target price (up from $170.00) on shares of Raytheon in a research note on Thursday, August 10th. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Raytheon presently has a consensus rating of “Buy” and an average price target of $186.07.
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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