Private Capital Advisors Inc. increased its stake in Raytheon (NYSE:RTN) by 19.0% during the third quarter, HoldingsChannel.com reports. The firm owned 46,933 shares of the aerospace company’s stock after acquiring an additional 7,500 shares during the period. Raytheon makes up approximately 3.0% of Private Capital Advisors Inc.’s investment portfolio, making the stock its 6th biggest position. Private Capital Advisors Inc.’s holdings in Raytheon were worth $8,757,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Rainier Group Investment Advisory LLC bought a new position in Raytheon in the first quarter valued at about $103,000. Squar Milner Financial Services LLC bought a new position in Raytheon in the second quarter valued at about $100,000. Clarus Wealth Advisors bought a new position in Raytheon in the second quarter valued at about $113,000. Fort L.P. bought a new position in Raytheon in the second quarter valued at about $117,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in Raytheon in the third quarter valued at about $134,000. Institutional investors own 72.85% of the company’s stock.
A number of research analysts have issued reports on RTN shares. Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $233.00 target price on the stock in a research report on Wednesday, October 3rd. Morgan Stanley decreased their target price on Raytheon from $239.00 to $228.00 and set an “overweight” rating on the stock in a research report on Thursday, July 12th. ValuEngine cut Raytheon from a “buy” rating to a “hold” rating in a research report on Friday, June 15th. Stifel Nicolaus decreased their target price on Raytheon from $235.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, July 27th. Finally, UBS Group started coverage on Raytheon in a research report on Wednesday, August 15th. They issued a “buy” rating and a $250.00 target price on the stock. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Raytheon has a consensus rating of “Buy” and a consensus target price of $228.43.
NYSE:RTN opened at $191.69 on Friday. The stock has a market cap of $58.95 billion, a PE ratio of 25.16, a PEG ratio of 1.58 and a beta of 0.68. The company has a current ratio of 1.61, a quick ratio of 1.51 and a debt-to-equity ratio of 0.45. Raytheon has a 1-year low of $179.29 and a 1-year high of $229.75.
Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, July 26th. The aerospace company reported $2.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.32 by $0.46. The company had revenue of $6.63 billion for the quarter, compared to analysts’ expectations of $6.51 billion. Raytheon had a return on equity of 24.01% and a net margin of 9.24%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.98 earnings per share. As a group, sell-side analysts anticipate that Raytheon will post 9.93 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 8th. Stockholders of record on Wednesday, October 10th will be issued a dividend of $0.8675 per share. This represents a $3.47 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Tuesday, October 9th. Raytheon’s dividend payout ratio (DPR) is currently 45.54%.
In other news, VP Taylor W. Lawrence sold 3,299 shares of the business’s stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $199.41, for a total transaction of $657,853.59. Following the sale, the vice president now directly owns 44,220 shares in the company, valued at $8,817,910.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.
Raytheon Company Profile
Raytheon Company develops integrated products, services, and solutions for 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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