Cleararc Capital Inc. cut its position in Raytheon (NYSE:RTN) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,344 shares of the aerospace company’s stock after selling 287 shares during the period. Cleararc Capital Inc.’s holdings in Raytheon were worth $2,138,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. WESPAC Advisors SoCal LLC acquired a new stake in shares of Raytheon during the third quarter worth $103,000. Fort L.P. acquired a new stake in shares of Raytheon during the second quarter worth $117,000. Mainstay Capital Management LLC ADV raised its holdings in shares of Raytheon by 19,218.3% during the second quarter. Mainstay Capital Management LLC ADV now owns 25,307 shares of the aerospace company’s stock worth $131,000 after acquiring an additional 25,176 shares during the period. Salem Investment Counselors Inc. raised its holdings in shares of Raytheon by 140.8% during the second quarter. Salem Investment Counselors Inc. now owns 684 shares of the aerospace company’s stock worth $132,000 after acquiring an additional 400 shares during the period. Finally, Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in shares of Raytheon during the third quarter worth $134,000. Institutional investors own 73.25% of the company’s stock.
A number of equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $233.00 price objective on the stock in a report on Wednesday, October 3rd. UBS Group assumed coverage on shares of Raytheon in a report on Wednesday, August 15th. They set a “buy” rating and a $250.00 price objective on the stock. Morgan Stanley dropped their price objective on shares of Raytheon from $228.00 to $221.00 and set an “overweight” rating on the stock in a report on Wednesday, November 14th. Wells Fargo & Co dropped their price objective on shares of Raytheon from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday, October 26th. Finally, Bank of America dropped their price objective 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 equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $227.15.
Raytheon stock opened at $168.18 on Friday. The firm has a market capitalization of $47.15 billion, a P/E ratio of 22.07, a price-to-earnings-growth ratio of 1.18 and a beta of 0.81. Raytheon has a 1-year low of $162.31 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.
Raytheon (NYSE:RTN) last released its earnings results on Thursday, October 25th. The aerospace company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.28. The business had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. Raytheon had a net margin of 9.33% and a return on equity of 24.43%. During the same quarter last year, the firm earned $1.97 earnings per share. On average, research analysts anticipate that Raytheon will post 10.1 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 31st. Investors of record on Wednesday, January 2nd will be given a $0.8675 dividend. This represents a $3.47 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Monday, December 31st. Raytheon’s dividend payout ratio (DPR) is currently 45.54%.
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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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