Janney Montgomery Scott LLC raised its holdings in Raytheon (NYSE:RTN) by 8.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 143,499 shares of the aerospace company’s stock after buying an additional 10,926 shares during the quarter. Janney Montgomery Scott LLC owned about 0.05% of Raytheon worth $29,656,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Charles Schwab Investment Advisory Inc. bought a new stake in shares of Raytheon during the second quarter valued at approximately $230,415,000. Wells Fargo & Company MN boosted its position in shares of Raytheon by 45.2% during the second quarter. Wells Fargo & Company MN now owns 2,698,919 shares of the aerospace company’s stock valued at $521,378,000 after purchasing an additional 840,321 shares in the last quarter. Putnam Investments LLC boosted its position in shares of Raytheon by 49.8% during the second quarter. Putnam Investments LLC now owns 2,154,197 shares of the aerospace company’s stock valued at $416,148,000 after purchasing an additional 716,446 shares in the last quarter. Morgan Stanley boosted its position in shares of Raytheon by 16.4% during the second quarter. Morgan Stanley now owns 3,268,371 shares of the aerospace company’s stock valued at $631,383,000 after purchasing an additional 461,461 shares in the last quarter. Finally, American Century Companies Inc. bought a new stake in shares of Raytheon during the second quarter valued at approximately $85,666,000. 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 business’s stock in a transaction 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 owns 44,220 shares in the company, valued at $8,817,910.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by insiders.
Raytheon stock opened at $184.80 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.37 and a current ratio of 1.49. Raytheon has a 12 month low of $165.00 and a 12 month high of $229.75. The firm has a market capitalization of $51.66 billion, a price-to-earnings ratio of 24.25, a P/E/G ratio of 1.36 and a beta of 0.84.
Raytheon (NYSE:RTN) last released its earnings results on Thursday, October 25th. The aerospace company reported $2.25 EPS for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $6.67 billion. During the same period in the previous year, the company posted $1.97 earnings per share. On average, research analysts predict that Raytheon will post 10.1 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 8th. Stockholders of record on Wednesday, October 10th will be paid a $0.8675 dividend. This represents a $3.47 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Tuesday, October 9th. Raytheon’s dividend payout ratio is currently 45.54%.
Several research firms recently weighed in on RTN. Wells Fargo & Co dropped their price target on Raytheon from $225.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, October 26th. Bank of America dropped their price target on Raytheon from $245.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, October 26th. Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $221.00 price target on the stock in a research report on Thursday, October 11th. UBS Group began coverage on Raytheon in a report on Wednesday, August 15th. They issued a “buy” rating and a $250.00 target price on the stock. Finally, Stifel Nicolaus dropped their target price on Raytheon from $235.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, July 27th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Raytheon currently has a consensus rating of “Buy” and an average target price of $231.08.
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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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