American Century Companies Inc. raised its position in shares of Raytheon (NYSE:RTN) by 35.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 601,409 shares of the aerospace company’s stock after acquiring an additional 157,959 shares during the period. American Century Companies Inc. owned approximately 0.21% of Raytheon worth $124,287,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of the business. Investment Partners LTD. purchased a new stake in shares of Raytheon during the third quarter valued at $207,000. WESPAC Advisors SoCal LLC purchased a new stake in shares of Raytheon during the third quarter valued at $103,000. Squar Milner Financial Services LLC purchased a new stake in shares of Raytheon during the second quarter valued at $100,000. Fort L.P. purchased a new stake in shares of Raytheon during the second quarter valued at $117,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in shares of Raytheon during the third quarter valued at $134,000. Institutional investors and hedge funds own 73.24% of the company’s stock.
In related news, VP Taylor W. Lawrence sold 3,299 shares of the company’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $199.41, for a total value of $657,853.59. Following the completion of the sale, the vice president now directly owns 44,220 shares of the company’s stock, valued at $8,817,910.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is owned by corporate insiders.
A number of brokerages have recently issued reports on RTN. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $233.00 target price for the company in a research note on Wednesday, October 3rd. Stifel Nicolaus lowered their target price on shares of Raytheon from $235.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, July 27th. UBS Group began coverage on shares of Raytheon in a research note on Wednesday, August 15th. They set a “buy” rating and a $250.00 target price for the company. Wells Fargo & Co lowered their target price on shares of Raytheon from $225.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, October 26th. Finally, Bank of America lowered their target price on shares of Raytheon from $245.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, October 26th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Raytheon currently has a consensus rating of “Buy” and an average target price of $231.08.
NYSE:RTN opened at $188.02 on Friday. Raytheon has a 1-year low of $165.00 and a 1-year high of $229.75. The stock has a market capitalization of $52.59 billion, a P/E ratio of 24.67, a price-to-earnings-growth ratio of 1.38 and a beta of 0.84. 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 quarterly earnings data on Thursday, October 25th. The aerospace company reported $2.25 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.67 billion. During the same period in the prior year, the firm earned $1.97 earnings per share. Analysts predict that Raytheon will post 10.1 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 8th. Investors of record on Wednesday, October 10th were paid a $0.8675 dividend. This represents a $3.47 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Tuesday, October 9th. Raytheon’s dividend payout ratio (DPR) is presently 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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