Prospera Financial Services Inc Sells 1,728 Shares of Raytheon (NYSE:RTN)

Share on StockTwits

Prospera Financial Services Inc decreased its position in Raytheon (NYSE:RTN) by 48.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,840 shares of the aerospace company’s stock after selling 1,728 shares during the quarter. Prospera Financial Services Inc’s holdings in Raytheon were worth $283,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RTN. LSV Asset Management raised its holdings in Raytheon by 829.0% in the first quarter. LSV Asset Management now owns 2,129,350 shares of the aerospace company’s stock worth $387,712,000 after purchasing an additional 1,900,150 shares in the last quarter. Thoroughbred Financial Services LLC raised its holdings in Raytheon by 17,408.1% in the second quarter. Thoroughbred Financial Services LLC now owns 1,107,038 shares of the aerospace company’s stock worth $110,704,000 after purchasing an additional 1,100,715 shares in the last quarter. BlackRock Inc. raised its holdings in Raytheon by 2.3% in the first quarter. BlackRock Inc. now owns 23,365,818 shares of the aerospace company’s stock worth $4,254,449,000 after purchasing an additional 527,708 shares in the last quarter. Artisan Partners Limited Partnership bought a new position in Raytheon in the first quarter worth $62,635,000. Finally, Lazard Asset Management LLC raised its holdings in Raytheon by 25.3% in the first quarter. Lazard Asset Management LLC now owns 1,700,821 shares of the aerospace company’s stock worth $309,684,000 after purchasing an additional 342,977 shares in the last quarter. Institutional investors and hedge funds own 72.96% of the company’s stock.

In related news, VP Randa G. Newsome sold 10,000 shares of Raytheon stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $185.01, for a total value of $1,850,100.00. Following the completion of the sale, the vice president now directly owns 20,396 shares in the company, valued at approximately $3,773,463.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Frank R. Jimenez sold 1,054 shares of Raytheon stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $180.00, for a total value of $189,720.00. Following the completion of the sale, the vice president now owns 25,863 shares of the company’s stock, valued at $4,655,340. The disclosure for this sale can be found here. Insiders sold a total of 13,969 shares of company stock valued at $2,622,820 over the last quarter. 0.18% of the stock is owned by corporate insiders.

A number of equities analysts have issued reports on RTN shares. ValuEngine downgraded Raytheon from a “hold” rating to a “sell” rating in a report on Friday, June 28th. Buckingham Research downgraded Raytheon from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $265.00 to $195.00 in a report on Monday, June 24th. Sanford C. Bernstein downgraded Raytheon from an “outperform” rating to a “market perform” rating and set a $212.00 price objective for the company. in a report on Tuesday. Vertical Research downgraded Raytheon from a “buy” rating to a “hold” rating and reduced their price target for the company from $216.00 to $203.00 in a report on Tuesday, June 11th. Finally, Stifel Nicolaus raised their price target on Raytheon from $205.00 to $218.00 and gave the company a “buy” rating in a report on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $212.00.

Shares of NYSE:RTN traded up $0.26 on Thursday, hitting $200.57. 628,831 shares of the company traded hands, compared to its average volume of 1,493,601. Raytheon has a 52 week low of $144.27 and a 52 week high of $210.89. The stock has a 50 day simple moving average of $185.72 and a 200-day simple moving average of $181.34. The company has a market cap of $55.78 billion, a PE ratio of 18.90, a PEG ratio of 1.63 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 EPS for the quarter, topping the consensus estimate of $2.61 by $0.31. Raytheon had a return on equity of 26.34% and a net margin of 10.96%. The company had revenue of $7.16 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same period last year, the company earned $2.45 EPS. Raytheon’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Raytheon will post 11.73 earnings per share for the current year.

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.

See Also: How can you know how many shares are floating?

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

Receive News & Ratings for Raytheon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon and related companies with MarketBeat.com's FREE daily email newsletter.