MERIAN GLOBAL INVESTORS UK Ltd lessened its position in Raytheon (NYSE:RTN) by 22.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 486,819 shares of the aerospace company’s stock after selling 137,221 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd owned 0.17% of Raytheon worth $100,606,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of RTN. Squar Milner Financial Services LLC acquired a new stake in shares of Raytheon in the second quarter valued at about $100,000. Rainier Group Investment Advisory LLC acquired a new stake in shares of Raytheon in the first quarter valued at about $103,000. Clarus Wealth Advisors acquired a new stake in shares of Raytheon in the second quarter valued at about $113,000. Fort L.P. acquired a new stake in shares of Raytheon in the second quarter valued at about $117,000. Finally, Mainstay Capital Management LLC ADV increased its stake in shares of Raytheon by 19,218.3% in the second quarter. Mainstay Capital Management LLC ADV now owns 25,307 shares of the aerospace company’s stock valued at $131,000 after buying an additional 25,176 shares during the period. 72.85% of the stock is owned by institutional investors and hedge funds.
RTN has been the subject of several recent research reports. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $233.00 price target for the company in a research note on Wednesday, October 3rd. Morgan Stanley decreased their price target on Raytheon from $239.00 to $228.00 and set an “overweight” rating for the company in a research note on Thursday, July 12th. Stifel Nicolaus decreased their price target on Raytheon from $235.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, July 27th. Finally, UBS Group began coverage on Raytheon in a research report on Wednesday, August 15th. They set a “buy” rating and a $250.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Raytheon has a consensus rating of “Buy” and a consensus price target of $228.43.
Shares of Raytheon stock opened at $193.12 on Thursday. Raytheon has a one year low of $179.29 and a one year high of $229.75. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.51 and a current ratio of 1.61. The stock has a market cap of $58.95 billion, a P/E ratio of 25.34, a price-to-earnings-growth ratio of 1.58 and a beta of 0.68.
Raytheon (NYSE:RTN) last announced its earnings results on Thursday, July 26th. The aerospace company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.32 by $0.46. Raytheon had a return on equity of 24.01% and a net margin of 9.24%. The company had revenue of $6.63 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same quarter in the prior year, the company earned $1.98 EPS. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities research analysts expect that Raytheon will post 9.93 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 8th. Investors of record on Wednesday, October 10th will be given a dividend of $0.8675 per share. The ex-dividend date is Tuesday, October 9th. This represents a $3.47 annualized dividend and a dividend yield of 1.80%. Raytheon’s payout ratio is 45.54%.
In other Raytheon news, VP Taylor W. Lawrence sold 3,299 shares of the stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $199.41, for a total value of $657,853.59. Following the transaction, the vice president now owns 44,220 shares in the company, valued at $8,817,910.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.
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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