Raytheon Company (RTN) Shareholder Centre Asset Management Lowered Its Holding by $2.08 Million; Edgepoint Investment Group Has Lowered Stake in Wabtec (WAB) by $30.43 Million

June 21, 2018 - By Clifton Ray

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Centre Asset Management Llc decreased its stake in Raytheon Company (RTN) by 24.75% based on its latest 2018Q1 regulatory filing with the SEC. Centre Asset Management Llc sold 9,690 shares as the company’s stock declined 3.91% with the market. The institutional investor held 29,460 shares of the industrial machinery and components company at the end of 2018Q1, valued at $6.36 million, down from 39,150 at the end of the previous reported quarter. Centre Asset Management Llc who had been investing in Raytheon Company for a number of months, seems to be less bullish one the $55.85B market cap company. The stock decreased 1.02% or $2 during the last trading session, reaching $194.42. About 1.31 million shares traded. Raytheon Company (NYSE:RTN) has risen 29.53% since June 21, 2017 and is uptrending. It has outperformed by 16.96% the S&P500. Some Historical RTN News: 17/04/2018 – F-35 gets precision target engagement with Raytheon JSOW missile; 17/05/2018 – Persistent welcomes Raytheon as a Wave Relay® Ecosystem Partner; 28/03/2018 – Poland, United States sign $4.75 bln deal on Patriot missiles; 28/05/2018 – Raytheon and Australia’s Defence Science and Technology ink electronic warfare agreement; 27/03/2018 – European missiles group MBDA wins 400 mln stg UK deal; 26/04/2018 – Raytheon Now Sees 2018 Effective Tax Rate 18%; Had Seen 19%; 06/04/2018 – RAYTHEON CO RTN.N : RBC RAISES TARGET PRICE TO $262 FROM $244; 30/05/2018 – Sweden set to close $1 bln Patriot missile deal; 26/04/2018 – Raytheon Had Seen 2018 EPS Cont Ops $9.55-$9.75; 26/04/2018 – Raytheon quarterly profit rises about 26 pct on lower taxes

Edgepoint Investment Group Inc decreased its stake in Wabtec Corp (WAB) by 7.3% based on its latest 2018Q1 regulatory filing with the SEC. Edgepoint Investment Group Inc sold 375,716 shares as the company’s stock rose 16.10% while stock markets declined. The institutional investor held 4.77 million shares of the railroads company at the end of 2018Q1, valued at $388.10 million, down from 5.14M at the end of the previous reported quarter. Edgepoint Investment Group Inc who had been investing in Wabtec Corp for a number of months, seems to be less bullish one the $9.81 billion market cap company. The stock decreased 0.77% or $0.785 during the last trading session, reaching $101.825. About 235,572 shares traded. Westinghouse Air Brake Technologies Corporation (NYSE:WAB) has risen 18.00% since June 21, 2017 and is uptrending. It has outperformed by 5.43% the S&P500. Some Historical WAB News: 21/05/2018 – WABTEC: TOO EARLY TO SAY IF GE MINING BUSINESS TO BE DIVESTED; 20/05/2018 – GE Nears $20 Billion Deal To Sell Transportation Unit To Wabtec: Report — MarketWatch; 21/04/2018 – Yahoo! Finance: GE exploring merging transport business with Wabtec; 23/04/2018 – Post-Gazette: GE is said in talks to unload rail unit in deal with Wilmerding-based Wabtec; 20/05/2018 – CNBC Now: GE nears deal to merge transportation unit with Wabtec, sources tell Reuters; 24/04/2018 – Wabtec Backs FY18 Rev; 19/04/2018 – Wabtec Declares Regular Quarterly Dividend; 03/04/2018 – DoJ Pub Affairs: Justice Department Requires Knorr and Wabtec to Terminate Unlawful Agreements Not to Compete for Employees; 20/05/2018 – Yahoo! UK: Exclusive – GE nears deal to merge transportation unit with Wabtec; 25/04/2018 – WABTEC AFFIRMED BY MOODY’S; OUTLOOK TO NEGATIVE FROM STABLE

Investors sentiment decreased to 0.98 in Q1 2018. Its down 0.11, from 1.09 in 2017Q4. It worsened, as 55 investors sold RTN shares while 396 reduced holdings. 105 funds opened positions while 336 raised stakes. 201.09 million shares or 0.71% less from 202.53 million shares in 2017Q4 were reported. Cypress Asset Mgmt Inc Tx stated it has 2.07% of its portfolio in Raytheon Company (NYSE:RTN). 64,272 were reported by Loomis Sayles Communications Lp. Private Advisor Grp Llc invested in 0.08% or 9,407 shares. 4,536 were accumulated by Ironwood Fincl Limited Company. Blb&B Advsr Ltd Llc owns 4,883 shares or 0.14% of their US portfolio. 10,009 are held by First City Capital Mngmt. Employees Retirement Sys Of Ohio reported 194,389 shares. Mathes reported 1,400 shares or 0.14% of all its holdings. Mitsubishi Ufj Tru & Bk Corporation holds 681,194 shares. Visionary Asset Inc has invested 0.09% in Raytheon Company (NYSE:RTN). Alabama-based Birmingham Company Al has invested 1.69% in Raytheon Company (NYSE:RTN). Regions Fin Corporation stated it has 0.66% of its portfolio in Raytheon Company (NYSE:RTN). Abner Herrman & Brock Ltd Llc reported 87,974 shares. Reinhart Partners holds 0.04% or 2,010 shares. Weybosset And Management Limited Liability accumulated 0.27% or 2,100 shares.

Since January 2, 2018, it had 1 buying transaction, and 24 insider sales for $32.55 million activity. The insider Newsome Randa G sold 8,540 shares worth $1.84 million. WAJSGRAS DAVID C sold 12,820 shares worth $2.77 million. Shares for $131,734 were sold by Wood Michael J. Long Letitia A had sold 650 shares worth $120,790 on Tuesday, January 2. 1,241 Raytheon Company (NYSE:RTN) shares with value of $263,267 were sold by Lawrence Taylor W. RHOADS REBECCA R also sold $323,961 worth of Raytheon Company (NYSE:RTN) shares.

Centre Asset Management Llc, which manages about $811.26M and $432.81 million US Long portfolio, upped its stake in Applied Materials Inc (NASDAQ:AMAT) by 10,240 shares to 172,060 shares, valued at $9.57 million in 2018Q1, according to the filing. It also increased its holding in Oracle Corp (NYSE:ORCL) by 8,930 shares in the quarter, for a total of 150,080 shares, and has risen its stake in Home Depot Inc (NYSE:HD).

Analysts await Raytheon Company (NYSE:RTN) to report earnings on July, 26. They expect $2.32 EPS, up 17.17% or $0.34 from last year’s $1.98 per share. RTN’s profit will be $666.42 million for 20.95 P/E if the $2.32 EPS becomes a reality. After $2.20 actual EPS reported by Raytheon Company for the previous quarter, Wall Street now forecasts 5.45% EPS growth.

More notable recent Raytheon Company (NYSE:RTN) news were published by: Seekingalpha.com which released: “Allies will keep buying US defense systems, Raytheon CEO says” on June 20, 2018, also Fool.com with their article: “How Lockheed Shaved $3 Billion Off F-35 Costs” published on June 20, 2018, Seekingalpha.com published: “Buy Lockheed Martin On Weakness – Cramer’s Lightning Round (6/14/18)” on June 15, 2018. More interesting news about Raytheon Company (NYSE:RTN) were released by: Investorplace.com and their article: “3 Reasons to Buy Lockheed Martin Stock on Weakness” published on June 21, 2018 as well as Seekingalpha.com‘s news article titled: “Raytheon: Technology-Focused Defense Player” with publication date: June 05, 2018.

Among 21 analysts covering Raytheon Company (NYSE:RTN), 16 have Buy rating, 1 Sell and 4 Hold. Therefore 76% are positive. Raytheon Company had 81 analyst reports since July 28, 2015 according to SRatingsIntel. As per Friday, October 23, the company rating was maintained by RBC Capital Markets. The company was maintained on Wednesday, September 2 by RBC Capital Markets. The stock of Raytheon Company (NYSE:RTN) has “Buy” rating given on Tuesday, August 1 by Bank of America. RBC Capital Markets upgraded the stock to “Top Pick” rating in Thursday, September 17 report. The stock has “Buy” rating by Cowen & Co on Tuesday, April 11. The stock of Raytheon Company (NYSE:RTN) has “Buy” rating given on Thursday, July 27 by RBC Capital Markets. RBC Capital Markets maintained the shares of RTN in report on Monday, August 28 with “Buy” rating. The stock of Raytheon Company (NYSE:RTN) has “Overweight” rating given on Monday, October 12 by JP Morgan. RBC Capital Markets maintained the stock with “Buy” rating in Tuesday, January 23 report. Jefferies maintained Raytheon Company (NYSE:RTN) on Monday, January 8 with “Buy” rating.

Analysts await Westinghouse Air Brake Technologies Corporation (NYSE:WAB) to report earnings on July, 24. They expect $0.94 EPS, up 17.50% or $0.14 from last year’s $0.8 per share. WAB’s profit will be $90.52 million for 27.08 P/E if the $0.94 EPS becomes a reality. After $0.92 actual EPS reported by Westinghouse Air Brake Technologies Corporation for the previous quarter, Wall Street now forecasts 2.17% EPS growth.

Among 17 analysts covering Wabtec (NYSE:WAB), 12 have Buy rating, 0 Sell and 5 Hold. Therefore 71% are positive. Wabtec had 40 analyst reports since December 21, 2015 according to SRatingsIntel. The stock of Westinghouse Air Brake Technologies Corporation (NYSE:WAB) earned “Buy” rating by Stifel Nicolaus on Wednesday, February 22. The stock has “Hold” rating by Edward Jones on Wednesday, July 26. KeyBanc Capital Markets maintained Westinghouse Air Brake Technologies Corporation (NYSE:WAB) on Tuesday, October 24 with “Buy” rating. Stifel Nicolaus upgraded it to “Buy” rating and $9900 target in Monday, April 23 report. The stock of Westinghouse Air Brake Technologies Corporation (NYSE:WAB) has “Neutral” rating given on Wednesday, October 26 by Longbow. Buckingham Research maintained Westinghouse Air Brake Technologies Corporation (NYSE:WAB) on Wednesday, October 25 with “Buy” rating. The rating was maintained by Stifel Nicolaus with “Hold” on Monday, September 11. The company was maintained on Wednesday, October 25 by Stifel Nicolaus. The firm has “Overweight” rating given on Wednesday, April 26 by KeyBanc Capital Markets. The stock of Westinghouse Air Brake Technologies Corporation (NYSE:WAB) has “Buy” rating given on Friday, September 15 by KeyBanc Capital Markets.

Edgepoint Investment Group Inc, which manages about $7.03 billion US Long portfolio, upped its stake in Berkshire Hathaway Inc Del (BRKA) by 187 shares to 1,563 shares, valued at $467.49 million in 2018Q1, according to the filing. It also increased its holding in Affiliated Managers Group (NYSE:AMG) by 344,980 shares in the quarter, for a total of 2.26 million shares, and has risen its stake in Realogy Hldgs Corp (NYSE:RLGY).

Since May 23, 2018, it had 0 insider buys, and 7 insider sales for $14.53 million activity. BROOKS ROBERT J also sold $341,600 worth of Westinghouse Air Brake Technologies Corporation (NYSE:WAB) on Friday, May 25. NEUPAVER ALBERT J also sold $6.29M worth of Westinghouse Air Brake Technologies Corporation (NYSE:WAB) on Tuesday, May 29. WAHLSTROM SCOTT also sold $877,190 worth of Westinghouse Air Brake Technologies Corporation (NYSE:WAB) shares. $284,437 worth of Westinghouse Air Brake Technologies Corporation (NYSE:WAB) was sold by Hehir Brian on Wednesday, May 23. KASSLING WILLIAM E also sold $5.38M worth of Westinghouse Air Brake Technologies Corporation (NYSE:WAB) on Thursday, May 31. FOSTER LEE B II sold $387,600 worth of Westinghouse Air Brake Technologies Corporation (NYSE:WAB) on Wednesday, May 23.

Raytheon Company (NYSE:RTN) Institutional Positions Chart

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