Assenagon Asset Management S.A. Acquires Shares of 7,696 Raytheon (RTN)

Assenagon Asset Management S.A. acquired a new position in shares of Raytheon (NYSE:RTN) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 7,696 shares of the aerospace company’s stock, valued at approximately $1,590,000.

Other large investors also recently bought and sold shares of the company. Addison Capital Co lifted its position in Raytheon by 16.1% during the third quarter. Addison Capital Co now owns 1,799 shares of the aerospace company’s stock valued at $372,000 after purchasing an additional 250 shares during the period. Strategic Advisors LLC lifted its position in Raytheon by 21.8% during the second quarter. Strategic Advisors LLC now owns 1,532 shares of the aerospace company’s stock valued at $296,000 after purchasing an additional 274 shares during the period. ST Germain D J Co. Inc. lifted its position in Raytheon by 16.5% during the second quarter. ST Germain D J Co. Inc. now owns 1,941 shares of the aerospace company’s stock valued at $375,000 after purchasing an additional 275 shares during the period. Daiwa Securities Group Inc. lifted its position in Raytheon by 2.9% during the second quarter. Daiwa Securities Group Inc. now owns 10,102 shares of the aerospace company’s stock valued at $1,952,000 after purchasing an additional 283 shares during the period. Finally, Argus Investors Counsel Inc. lifted its position in Raytheon by 18.3% during the third quarter. Argus Investors Counsel Inc. now owns 1,827 shares of the aerospace company’s stock valued at $378,000 after purchasing an additional 283 shares during the period. Institutional investors and hedge funds own 73.24% of the company’s stock.

RTN has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $224.00 target price for the company in a research report on Wednesday, July 18th. UBS Group initiated coverage on shares of Raytheon in a research report on Wednesday, August 15th. They issued a “buy” rating and a $250.00 price objective for the company. Stifel Nicolaus decreased their price objective on shares of Raytheon from $235.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, July 27th. Bank of America decreased their price objective on shares of Raytheon from $245.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, October 26th. Finally, Wells Fargo & Co decreased their price objective on shares of Raytheon from $225.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, October 26th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $231.08.

Shares of Raytheon stock opened at $188.02 on Friday. The stock has a market capitalization of $52.59 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 1.38 and a beta of 0.84. Raytheon has a fifty-two week low of $165.00 and a fifty-two week high of $229.75. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.49 and a quick ratio of 1.37.

Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, October 25th. The aerospace company reported $2.25 earnings per share for the quarter, topping 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 in the prior year, the firm posted $1.97 earnings per share. On average, sell-side analysts predict that Raytheon will post 10.1 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 8th. Shareholders of record on Wednesday, October 10th were given a $0.8675 dividend. The ex-dividend date was Tuesday, October 9th. This represents a $3.47 dividend on an annualized basis and a dividend yield of 1.85%. Raytheon’s dividend payout ratio (DPR) is currently 45.54%.

In other news, VP Taylor W. Lawrence sold 3,299 shares of the business’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $199.41, for a total transaction of $657,853.59. Following the completion of the sale, the vice president now owns 44,220 shares of the company’s stock, valued at $8,817,910.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company’s stock.

WARNING: This news story was originally published by American Banking News and is owned by of American Banking News. If you are viewing this news story on another publication, it was illegally copied and republished in violation of U.S. & international copyright and trademark law. The original version of this news story can be read at https://www.americanbankingnews.com/2018/11/10/assenagon-asset-management-s-a-acquires-shares-of-7696-raytheon-rtn.html.

Raytheon 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.

Featured Article: Buyback For Investors Defined

Want to see what other hedge funds are holding RTN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raytheon (NYSE:RTN).

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

Receive News & Ratings for Raytheon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply