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.
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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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