Pictet Asset Management Ltd. trimmed its position in shares of Raytheon (NYSE:RTN) by 29.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 127,031 shares of the aerospace company’s stock after selling 52,325 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Raytheon were worth $22,088,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RTN. Cibc World Markets Corp boosted its stake in shares of Raytheon by 54.1% during the second quarter. Cibc World Markets Corp now owns 72,943 shares of the aerospace company’s stock valued at $12,683,000 after purchasing an additional 25,621 shares during the period. Commonwealth Bank of Australia boosted its stake in shares of Raytheon by 77.0% during the second quarter. Commonwealth Bank of Australia now owns 432 shares of the aerospace company’s stock valued at $73,000 after purchasing an additional 188 shares during the period. Nicholas Company Inc. boosted its stake in shares of Raytheon by 0.5% during the second quarter. Nicholas Company Inc. now owns 20,670 shares of the aerospace company’s stock valued at $3,594,000 after purchasing an additional 100 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Raytheon by 14.5% during the second quarter. Canada Pension Plan Investment Board now owns 156,026 shares of the aerospace company’s stock valued at $27,130,000 after purchasing an additional 19,734 shares during the period. Finally, Natixis Advisors L.P. boosted its stake in shares of Raytheon by 33.2% during the second quarter. Natixis Advisors L.P. now owns 181,814 shares of the aerospace company’s stock valued at $31,614,000 after purchasing an additional 45,345 shares during the period. 73.08% of the stock is owned by institutional investors.

A number of analysts have recently issued reports on RTN shares. Vertical Research lowered 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 research note on Tuesday, June 11th. ValuEngine lowered shares of Raytheon from a “hold” rating to a “sell” rating in a research note on Friday, June 28th. Buckingham Research lowered shares of Raytheon from a “buy” rating to a “neutral” rating and lowered their target price for the company from $265.00 to $195.00 in a research note on Monday, June 24th. Stifel Nicolaus boosted their target price on shares of Raytheon from $205.00 to $218.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Finally, Bank of America reissued a “buy” rating and set a $265.00 target price (up from $224.00) on shares of Raytheon in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $210.80.

NYSE:RTN traded up $4.99 during mid-day trading on Friday, reaching $202.44. The company’s stock had a trading volume of 76,538 shares, compared to its average volume of 1,436,589. Raytheon has a 1 year low of $144.27 and a 1 year high of $210.89. The stock has a fifty day moving average of $184.36 and a 200-day moving average of $180.91. The firm has a market capitalization of $55.53 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 1.54 and a beta of 0.85. The company has a quick ratio of 1.35, a current ratio of 1.46 and a debt-to-equity ratio of 0.41.

Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, July 25th. The aerospace company reported $2.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.61 by $0.31. Raytheon had a net margin of 10.96% and a return on equity of 26.34%. The company had revenue of $7.16 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same period in the prior year, the firm earned $2.45 earnings per share. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, analysts expect that Raytheon will post 11.73 earnings per share for the current year.

In other Raytheon news, VP Frank R. Jimenez sold 1,054 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $180.00, for a total value of $189,720.00. Following the completion of the transaction, the vice president now directly owns 25,863 shares in the company, valued at $4,655,340. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Randa G. Newsome sold 10,000 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $185.01, for a total transaction of $1,850,100.00. Following the completion of the transaction, the vice president now owns 20,396 shares of the company’s stock, valued at $3,773,463.96. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

About Raytheon

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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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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