Bank of Nova Scotia Increases Stake in Raytheon (NYSE:RTN)

Bank of Nova Scotia increased its position in Raytheon (NYSE:RTN) by 4.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 326,216 shares of the aerospace company’s stock after acquiring an additional 13,398 shares during the quarter. Bank of Nova Scotia owned about 0.12% of Raytheon worth $56,723,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in RTN. Farmers National Bank purchased a new stake in Raytheon in the 1st quarter worth about $27,000. Semmax Financial Advisors Inc. increased its holdings in Raytheon by 148.6% in the 1st quarter. Semmax Financial Advisors Inc. now owns 174 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 104 shares during the last quarter. Weaver Consulting Group purchased a new stake in Raytheon in the 1st quarter worth about $36,000. Berman Capital Advisors LLC increased its holdings in Raytheon by 74.6% in the 2nd quarter. Berman Capital Advisors LLC now owns 220 shares of the aerospace company’s stock worth $38,000 after acquiring an additional 94 shares during the last quarter. Finally, Bremer Bank National Association purchased a new stake in Raytheon in the 1st quarter worth about $39,000. 73.08% of the stock is owned by institutional investors.

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

RTN stock opened at $193.12 on Thursday. The company has a quick ratio of 1.35, a current ratio of 1.46 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $53.85 billion, a PE ratio of 18.20, a PEG ratio of 1.51 and a beta of 0.85. Raytheon has a twelve month low of $144.27 and a twelve month high of $210.89. The stock has a 50-day simple moving average of $184.36 and a two-hundred day simple moving average of $180.91.

Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, July 25th. The aerospace company reported $2.92 EPS for the quarter, topping the Thomson Reuters’ 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 analyst estimates of $7.02 billion. During the same quarter in the previous year, the firm earned $2.45 earnings per share. Raytheon’s revenue was up 8.1% on a year-over-year basis. On average, equities research analysts anticipate that Raytheon will post 11.73 EPS for the current fiscal year.

A number of research analysts have weighed in on RTN shares. Stifel Nicolaus lifted their target price on Raytheon from $205.00 to $218.00 and gave the company a “buy” rating in a report on Monday, June 10th. Vertical Research lowered Raytheon from a “buy” rating to a “hold” rating and reduced their target price for the company from $216.00 to $203.00 in a report on Tuesday, June 11th. Bank of America reaffirmed a “buy” rating and set a $265.00 target price (up previously from $224.00) on shares of Raytheon in a report on Friday, July 26th. Buckingham Research lowered Raytheon from a “buy” rating to a “neutral” rating and reduced their target price for the company from $265.00 to $195.00 in a report on Monday, June 24th. Finally, ValuEngine lowered Raytheon from a “hold” rating to a “sell” rating in a report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $209.80.

Raytheon Profile

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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