Strategy Asset Managers LLC lessened its stake in shares of Raytheon (NYSE:RTN) by 64.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,486 shares of the aerospace company’s stock after selling 2,725 shares during the quarter. Strategy Asset Managers LLC’s holdings in Raytheon were worth $307,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of RTN. Addison Capital Co increased its holdings in shares of Raytheon by 16.1% in the 3rd quarter. Addison Capital Co now owns 1,799 shares of the aerospace company’s stock valued at $372,000 after acquiring an additional 250 shares during the period. Strategic Advisors LLC increased its holdings in shares of Raytheon by 21.8% in the 2nd quarter. Strategic Advisors LLC now owns 1,532 shares of the aerospace company’s stock valued at $296,000 after acquiring an additional 274 shares during the period. ST Germain D J Co. Inc. increased its holdings in shares of Raytheon by 16.5% in the 2nd quarter. ST Germain D J Co. Inc. now owns 1,941 shares of the aerospace company’s stock valued at $375,000 after acquiring an additional 275 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of Raytheon by 2.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 10,102 shares of the aerospace company’s stock valued at $1,952,000 after acquiring an additional 283 shares during the period. Finally, Argus Investors Counsel Inc. increased its holdings in shares of Raytheon by 18.3% in the 3rd quarter. Argus Investors Counsel Inc. now owns 1,827 shares of the aerospace company’s stock valued at $378,000 after acquiring an additional 283 shares during the period. Institutional investors and hedge funds own 73.24% of the company’s stock.
Shares of RTN opened at $182.71 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.37 and a current ratio of 1.49. The firm has a market capitalization of $51.66 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 1.36 and a beta of 0.84. Raytheon has a 1 year low of $165.00 and a 1 year high of $229.75.
Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, October 25th. The aerospace company reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.28. The company had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. Raytheon had a net margin of 9.33% and a return on equity of 24.43%. During the same period in the previous year, the company posted $1.97 EPS. As a group, equities research analysts expect that Raytheon will post 10.1 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 8th. Shareholders of record on Wednesday, October 10th will be paid a $0.8675 dividend. The ex-dividend date of this dividend is Tuesday, October 9th. This represents a $3.47 annualized dividend and a yield of 1.90%. Raytheon’s dividend payout ratio is currently 45.54%.
RTN has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $233.00 target price on the stock in a report on Wednesday, October 3rd. UBS Group initiated coverage on shares of Raytheon in a report on Wednesday, August 15th. They issued a “buy” rating and a $250.00 target price on the stock. Stifel Nicolaus cut their target price on shares of Raytheon from $235.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, July 27th. Morgan Stanley cut their target price on shares of Raytheon from $239.00 to $228.00 and set an “overweight” rating on the stock in a report on Thursday, July 12th. Finally, Bank of America cut their target price on shares of Raytheon from $245.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, October 26th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $231.08.
In other Raytheon news, VP Taylor W. Lawrence sold 3,299 shares of the business’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $199.41, for a total value of $657,853.59. Following 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 filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.19% of the company’s stock.
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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