Centaurus Financial Inc. lifted its holdings in Raytheon (NYSE:RTN) by 398.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 7,958 shares of the aerospace company’s stock after buying an additional 6,362 shares during the quarter. Centaurus Financial Inc.’s holdings in Raytheon were worth $1,537,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of RTN. Charles Schwab Investment Advisory Inc. acquired a new position in shares of Raytheon in the 2nd quarter valued at approximately $230,415,000. Wells Fargo & Company MN grew its position in shares of Raytheon by 45.2% in the 2nd quarter. Wells Fargo & Company MN now owns 2,698,919 shares of the aerospace company’s stock valued at $521,378,000 after purchasing an additional 840,321 shares during the period. Morgan Stanley boosted its position in Raytheon by 16.4% during the 2nd 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 last quarter. American Century Companies Inc. acquired a new position in Raytheon during the 2nd quarter worth approximately $85,666,000. Finally, Janus Henderson Group PLC boosted its position in Raytheon by 26.2% during the 2nd quarter. Janus Henderson Group PLC now owns 2,044,423 shares of the aerospace company’s stock worth $394,945,000 after acquiring an additional 424,244 shares during the last quarter. Institutional investors and hedge funds own 73.28% of the company’s stock.
A number of equities analysts have weighed in on the company. Credit Suisse Group reaffirmed a “neutral” rating and set a $219.00 price target (down previously from $250.00) on shares of Raytheon in a research report on Tuesday, May 22nd. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $240.00 price target for the company in a research report on Tuesday, June 12th. ValuEngine downgraded Raytheon from a “buy” rating to a “hold” rating in a research report on Friday, June 15th. Morgan Stanley reduced their price target on Raytheon from $239.00 to $228.00 and set an “overweight” rating for the company in a research report on Thursday, July 12th. Finally, Stifel Nicolaus reduced their price target on Raytheon from $235.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, July 27th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Raytheon presently has a consensus rating of “Buy” and a consensus target price of $224.29.
Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, July 26th. The aerospace company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.32 by $0.46. The company had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $6.51 billion. Raytheon had a return on equity of 24.01% and a net margin of 9.24%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.98 EPS. sell-side analysts forecast that Raytheon will post 9.93 earnings per share for the current year.
In other news, VP Taylor W. Lawrence sold 3,299 shares of the stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $199.41, for a total value of $657,853.59. Following the completion of the sale, the vice president now owns 44,220 shares of the company’s stock, valued at approximately $8,817,910.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.19% of the company’s stock.
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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