Tdam USA Inc. decreased its holdings in shares of Raytheon (NYSE:RTN) by 5.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,228 shares of the aerospace company’s stock after selling 1,835 shares during the quarter. Tdam USA Inc.’s holdings in Raytheon were worth $6,672,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Raytheon by 1.3% in the 2nd quarter. BlackRock Inc. now owns 21,910,796 shares of the aerospace company’s stock worth $4,232,729,000 after acquiring an additional 279,001 shares during the period. FMR LLC lifted its position in shares of Raytheon by 3.6% in the 2nd quarter. FMR LLC now owns 8,242,330 shares of the aerospace company’s stock worth $1,592,253,000 after acquiring an additional 283,720 shares during the period. Macquarie Group Ltd. lifted its position in shares of Raytheon by 2.8% in the 2nd quarter. Macquarie Group Ltd. now owns 3,459,211 shares of the aerospace company’s stock worth $668,250,000 after acquiring an additional 94,161 shares during the period. Northern Trust Corp lifted its position in shares of Raytheon by 1.2% in the 2nd quarter. Northern Trust Corp now owns 3,279,555 shares of the aerospace company’s stock worth $633,543,000 after acquiring an additional 39,666 shares during the period. Finally, Morgan Stanley lifted its position in shares of Raytheon by 16.4% in the 2nd quarter. Morgan Stanley now owns 3,268,371 shares of the aerospace company’s stock worth $631,383,000 after acquiring an additional 461,461 shares during the period. Hedge funds and other institutional investors own 73.24% of the company’s stock.
In other 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 completion of the transaction, the vice president now directly owns 44,220 shares of the company’s stock, valued at approximately $8,817,910.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.19% of the company’s stock.
Shares of RTN opened at $182.71 on Monday. Raytheon has a 1 year low of $165.00 and a 1 year high of $229.75. The company has a quick ratio of 1.37, a current ratio of 1.49 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $51.66 billion, a PE ratio of 23.98, a P/E/G ratio of 1.36 and a beta of 0.84.
Raytheon (NYSE:RTN) last issued its earnings results on Thursday, October 25th. The aerospace company reported $2.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.97 by $0.28. Raytheon had a return on equity of 24.43% and a net margin of 9.33%. The business had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same period in the prior year, the firm posted $1.97 EPS. As a group, equities research analysts expect that Raytheon will post 10.1 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 8th. Stockholders of record on Wednesday, October 10th will be issued a $0.8675 dividend. The ex-dividend date of this dividend is Tuesday, October 9th. This represents a $3.47 dividend on an annualized basis and a dividend yield of 1.90%. Raytheon’s payout ratio is presently 45.54%.
A number of analysts have commented on RTN shares. Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $233.00 price objective for the company in a research report on Wednesday, October 3rd. UBS Group started coverage on Raytheon in a research report on Wednesday, August 15th. They issued a “buy” rating and a $250.00 price objective for the company. Stifel Nicolaus reduced their price objective on Raytheon from $235.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, July 27th. Morgan Stanley reduced their price objective on Raytheon from $239.00 to $228.00 and set an “overweight” rating for the company in a research report on Thursday, July 12th. Finally, Bank of America reduced their price objective on Raytheon from $245.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, October 26th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $231.08.
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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