BlueCrest Capital Management Ltd trimmed its position in shares of Raytheon (NYSE:RTN) by 33.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,189 shares of the aerospace company’s stock after selling 595 shares during the quarter. BlueCrest Capital Management Ltd’s holdings in Raytheon were worth $223,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of RTN. Sandy Spring Bank grew its holdings in Raytheon by 2.9% during the third quarter. Sandy Spring Bank now owns 19,764 shares of the aerospace company’s stock worth $3,687,000 after buying an additional 555 shares in the last quarter. Smithfield Trust Co. grew its holdings in Raytheon by 8.4% during the third quarter. Smithfield Trust Co. now owns 4,770 shares of the aerospace company’s stock worth $890,000 after buying an additional 370 shares in the last quarter. Bessemer Group Inc. grew its holdings in Raytheon by 0.4% during the third quarter. Bessemer Group Inc. now owns 1,789,970 shares of the aerospace company’s stock worth $333,974,000 after buying an additional 7,442 shares in the last quarter. Candriam Luxembourg S.C.A. grew its holdings in Raytheon by 11.8% during the third quarter. Candriam Luxembourg S.C.A. now owns 27,965 shares of the aerospace company’s stock worth $5,218,000 after buying an additional 2,961 shares in the last quarter. Finally, Alps Advisors Inc. bought a new stake in Raytheon during the third quarter worth $236,000. 73.40% of the stock is currently owned by institutional investors.
RTN stock opened at $213.05 on Wednesday. The stock has a market capitalization of $60,609.34, a price-to-earnings ratio of 30.65, a price-to-earnings-growth ratio of 1.99 and a beta of 0.71. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.54 and a quick ratio of 1.46. Raytheon has a 12 month low of $148.65 and a 12 month high of $222.82.
Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, January 25th. The aerospace company reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.01. The firm had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.81 billion. Raytheon had a return on equity of 21.36% and a net margin of 7.98%. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.84 EPS. equities research analysts expect that Raytheon will post 9.66 earnings per share for the current fiscal year.
RTN has been the subject of several recent research reports. JPMorgan Chase & Co. downgraded Raytheon from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $190.00 to $210.00 in a report on Tuesday, December 12th. Wells Fargo reiterated an “outperform” rating and set a $215.00 price target (up previously from $202.00) on shares of Raytheon in a report on Tuesday, January 16th. Morgan Stanley upped their price target on Raytheon from $224.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Robert W. Baird reiterated a “buy” rating and set a $237.00 price target on shares of Raytheon in a report on Friday, January 26th. Finally, Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $217.00 price target for the company in a report on Friday, January 12th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Raytheon has an average rating of “Buy” and an average price target of $214.12.
In other news, CAO Michael J. Wood sold 3,989 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $215.88, for a total transaction of $861,145.32. Following the completion of the transaction, the chief accounting officer now owns 22,260 shares in the company, valued at approximately $4,805,488.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Anthony F. O’brien sold 10,503 shares of the stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $214.17, for a total value of $2,249,427.51. Following the transaction, the chief financial officer now owns 35,328 shares of the company’s stock, valued at approximately $7,566,197.76. The disclosure for this sale can be found here. Insiders sold a total of 79,400 shares of company stock valued at $17,052,714 in the last 90 days. Corporate insiders own 0.19% of the company’s stock.
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Raytheon Company Profile
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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