TD Asset Management Inc. boosted its position in shares of Raytheon (NYSE:RTN) by 4.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 136,480 shares of the aerospace company’s stock after buying an additional 5,282 shares during the quarter. TD Asset Management Inc.’s holdings in Raytheon were worth $23,732,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Raytheon by 2.3% in the 1st quarter. BlackRock Inc. now owns 23,365,818 shares of the aerospace company’s stock valued at $4,254,449,000 after purchasing an additional 527,708 shares during the period. Amundi Pioneer Asset Management Inc. lifted its stake in shares of Raytheon by 7.3% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 4,165,178 shares of the aerospace company’s stock valued at $758,397,000 after purchasing an additional 284,688 shares during the period. Geode Capital Management LLC lifted its stake in shares of Raytheon by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 3,729,683 shares of the aerospace company’s stock valued at $570,952,000 after purchasing an additional 186,460 shares during the period. Clearbridge Investments LLC lifted its stake in shares of Raytheon by 1.6% in the 1st quarter. Clearbridge Investments LLC now owns 3,018,011 shares of the aerospace company’s stock valued at $549,519,000 after purchasing an additional 47,460 shares during the period. Finally, LSV Asset Management lifted its stake in shares of Raytheon by 829.0% in the 1st quarter. LSV Asset Management now owns 2,129,350 shares of the aerospace company’s stock valued at $387,712,000 after purchasing an additional 1,900,150 shares during the period. 74.71% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently weighed in on RTN shares. Buckingham Research downgraded Raytheon from a “buy” rating to a “neutral” rating and cut their price target for the company from $265.00 to $195.00 in a research note on Monday, June 24th. Zacks Investment Research downgraded Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, April 29th. Jefferies Financial Group increased their price target on Raytheon from $202.00 to $216.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Vertical Research downgraded Raytheon from a “buy” rating to a “hold” rating and cut their price target for the company from $216.00 to $203.00 in a research note on Tuesday, June 11th. Finally, Bank of America reissued a “buy” rating and issued a $265.00 price target (up previously from $224.00) on shares of Raytheon in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $209.80.
Shares of Raytheon stock opened at $178.19 on Friday. The company has a market capitalization of $49.71 billion, a PE ratio of 16.79, a PEG ratio of 1.43 and a beta of 0.86. Raytheon has a 12 month low of $144.27 and a 12 month high of $210.89. The company has a current ratio of 1.46, a quick ratio of 1.35 and a debt-to-equity ratio of 0.41. The stock’s fifty day simple moving average is $179.96 and its 200 day simple moving average is $180.11.
Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, July 25th. The aerospace company reported $2.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.61 by $0.31. The business had revenue of $7.16 billion for the quarter, compared to the consensus estimate of $7.02 billion. Raytheon had a return on equity of 26.34% and a net margin of 10.96%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.45 EPS. Analysts predict that Raytheon will post 11.73 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Tuesday, July 9th. Raytheon’s payout ratio is presently 35.53%.
In other Raytheon news, VP Randa G. Newsome sold 10,000 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $185.01, for a total transaction of $1,850,100.00. Following the completion of the transaction, the vice president now owns 20,396 shares in the company, valued at approximately $3,773,463.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Wesley D. Kremer sold 8,186 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $185.00, for a total value of $1,514,410.00. Following the transaction, the vice president now owns 29,175 shares of the company’s stock, valued at approximately $5,397,375. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.
Raytheon Company develops integrated products, services, and solutions for the 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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