Stock Mover of the Day: Raytheon Company Can’t Burn Your Long Portfolio. Just Reaches 52-Week High

Stock Mover of the Day: Raytheon Company Can't Burn Your Long Portfolio. Just Reaches 52 Week High

The stock of Raytheon Company (NYSE:RTN) hit a new 52-week high and has $196.46 target or 34.00% above today’s $146.61 share price. The 7 months bullish chart indicates low risk for the $43.24 billion company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $196.46 price target is reached, the company will be worth $14.70 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 3.83 million shares traded hands or 121.39% up from the average. Raytheon Company (NYSE:RTN) has risen 7.85% since April 7, 2016 and is uptrending. It has outperformed by 3.07% the S&P500.

Raytheon Company (NYSE:RTN) Ratings Coverage

Out of 14 analysts covering Raytheon Company (NYSE:RTN), 10 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 71% are positive. Raytheon Company has been the topic of 30 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The firm has “Sell” rating by Zacks given on Thursday, September 3. The stock of Raytheon Company (NYSE:RTN) earned “Buy” rating by Argus Research on Thursday, November 12. The stock has “Sell” rating given by Zacks on Monday, August 24. Deutsche Bank maintained the shares of RTN in a report on Friday, October 28 with “Hold” rating. The firm has “Peer Perform” rating by Wolfe Research given on Friday, October 23. On Friday, July 29 the stock rating was maintained by Stifel Nicolaus with “Buy”. Stifel Nicolaus maintained the shares of RTN in a report on Friday, October 23 with “Buy” rating. The company was maintained on Wednesday, September 2 by RBC Capital Markets. The rating was maintained by Barclays Capital with “Equal Weight” on Monday, May 2. UBS upgraded the stock to “Buy” rating in Tuesday, September 29 report.

According to Zacks Investment Research, “Raytheon Company is a global technology company. The company provides products and services in the areas of defense and commercial electronics, engineering and construction, and business and special mission aircraft. Raytheon has operations throughout the United States and serves customers in numerous countries around the world.”

Insitutional Activity: The institutional sentiment is 1.22 in 2016 Q2. Its the same as in 2016Q1. The ratio is the same, as 59 funds sold all Raytheon Company shares owned while 295 reduced positions. only 92 funds bought stakes while 341 increased positions. They now own 226.41 million shares or 4.12% less from 236.13 million shares in 2016Q1.
Moreover, Pinnacle Assocs Limited has 0.02% invested in Raytheon Company (NYSE:RTN) for 6,802 shares. Psagot House Limited reported 72 shares or 0% of all its holdings. Deutsche Bank Ag holds 0.44% or 4.54 million shares in its portfolio. Citadel Advisors accumulated 0.01% or 62,008 shares. The Georgia-based Ridgeworth Capital Mngmt Ltd Liability Corporation has invested 0.04% in Raytheon Company (NYSE:RTN). Oakbrook Investments Limited Liability Company, a Illinois-based fund reported 38,050 shares. Moreover, Royal State Bank Of Canada has 0.1% invested in Raytheon Company (NYSE:RTN) for 1.21 million shares. Covington Investment Advsrs holds 1.3% of its portfolio in Raytheon Company (NYSE:RTN) for 21,622 shares. Hsbc Pcl holds 562,214 shares or 0.21% of its portfolio. Moreover, Price T Rowe Assoc Inc Md has 0.05% invested in Raytheon Company (NYSE:RTN) for 1.76 million shares. Moreover, Srb has 0.02% invested in Raytheon Company (NYSE:RTN) for 1,092 shares. Boulegeris Inc reported 2,755 shares or 0.26% of all its holdings. The New York-based Springbok Ltd Liability has invested 0.3% in Raytheon Company (NYSE:RTN). Ontario Teachers Pension Plan Board has invested 0.19% of its portfolio in Raytheon Company (NYSE:RTN). State Of Tennessee Treasury Department holds 426,988 shares or 0.29% of its portfolio.

Insider Transactions: Since June 6, 2016, the stock had 0 insider purchases, and 7 insider sales for $4.41 million net activity. 2,582 Raytheon Company (NYSE:RTN) shares with value of $344,310 were sold by Wood Michael J. 1,238 shares were sold by O’Brien Anthony F, worth $165,087. $358,160 worth of shares were sold by Clark Vernon E on Tuesday, August 2. 4,336 shares were sold by Lawrence Taylor W, worth $580,167 on Monday, June 6. $639,696 worth of Raytheon Company (NYSE:RTN) was sold by RHOADS REBECCA R. Another trade for 13,858 shares valued at $1.85M was made by Kennedy Thomas A on Monday, June 6.

More recent Raytheon Company (NYSE:RTN) news were published by: Prnewswire.com which released: “Raytheon Company to release third quarter 2016 results on October 27, 2016” on October 18, 2016. Also Prnewswire.com published the news titled: “Raytheon chooses US site to manufacture Air Force jet trainer” on October 24, 2016. Prnewswire.com‘s news article titled: “Air traffic controllers recognize Raytheon for modernizing systems that manage …” with publication date: October 17, 2016 was also an interesting one.

RTN Company Profile

Raytheon Company (Raytheon), incorporated on December 17, 1953, together with its subsidiaries, is a technology company, which specializes in defense and other government markets. The Firm develops technologically integrated products, services and solutions in various markets, such as sensing; effects; command, control, communications, computers, cyber and intelligence (C5I); mission support, and cybersecurity. The Firm operates in five divisions: Integrated Defense Systems (IDS); Intelligence, Information and Services (IIS); Missile Systems (MS); Space and Airborne Systems (SAS), and Forcepoint. The Company’s subsidiaries include Raytheon Systems Limited (RSL) and Raytheon Australia (RA).

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