Raytheon (RTN) Shares Sold by Virtu Financial LLC

Virtu Financial LLC trimmed its holdings in shares of Raytheon (NYSE:RTN) by 74.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,362 shares of the aerospace company’s stock after selling 9,668 shares during the period. Virtu Financial LLC’s holdings in Raytheon were worth $695,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Cornerstone Wealth Management LLC boosted its position in shares of Raytheon by 4,885.3% during the second quarter. Cornerstone Wealth Management LLC now owns 47,859 shares of the aerospace company’s stock worth $246,000 after purchasing an additional 46,899 shares in the last quarter. Bainco International Investors lifted its position in Raytheon by 3.4% in the 2nd quarter. Bainco International Investors now owns 24,375 shares of the aerospace company’s stock valued at $4,709,000 after acquiring an additional 795 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Raytheon in the 2nd quarter valued at $3,076,000. First Trust Advisors LP lifted its position in Raytheon by 45.3% in the 2nd quarter. First Trust Advisors LP now owns 266,918 shares of the aerospace company’s stock valued at $51,563,000 after acquiring an additional 83,198 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in Raytheon by 10.3% in the 2nd quarter. Victory Capital Management Inc. now owns 26,207 shares of the aerospace company’s stock valued at $5,063,000 after acquiring an additional 2,455 shares in the last quarter. 73.25% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:RTN opened at $165.68 on Thursday. The company has a current ratio of 1.49, a quick ratio of 1.37 and a debt-to-equity ratio of 0.42. Raytheon has a one year low of $165.00 and a one year high of $229.75. The stock has a market cap of $47.15 billion, a price-to-earnings ratio of 21.74, a price-to-earnings-growth ratio of 1.18 and a beta of 0.81.

Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, October 25th. The aerospace company reported $2.25 EPS for the quarter, topping the consensus estimate of $1.97 by $0.28. Raytheon had a net margin of 9.33% and a return on equity of 24.43%. The firm had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. During the same period in the previous year, the firm posted $1.97 EPS. As a group, equities analysts forecast that Raytheon will post 10.1 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Wednesday, January 2nd will be given a dividend of $0.8675 per share. The ex-dividend date of this dividend is Monday, December 31st. This represents a $3.47 annualized dividend and a yield of 2.09%. Raytheon’s dividend payout ratio (DPR) is presently 45.54%.

Several equities research analysts recently commented on RTN shares. Bank of America cut their price objective on shares of 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 raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $233.00 price objective on the stock in a research report on Wednesday, October 3rd. Wells Fargo & Co cut their price objective on shares of Raytheon from $225.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, October 26th. UBS Group started coverage on shares of Raytheon in a research report on Wednesday, August 15th. They issued a “buy” rating and a $250.00 price objective on the stock. Finally, Morgan Stanley cut their price objective on shares of Raytheon from $228.00 to $221.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 14th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Raytheon presently has a consensus rating of “Buy” and an average target price of $227.15.

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About Raytheon

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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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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