TD Asset Management Inc. trimmed its position in shares of Raytheon (NYSE:RTN) by 41.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 154,654 shares of the aerospace company’s stock after selling 111,430 shares during the period. TD Asset Management Inc. owned 0.05% of Raytheon worth $31,961,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Investment Partners LTD. bought a new stake in shares of Raytheon during the 3rd quarter valued at $207,000. WESPAC Advisors SoCal LLC purchased a new position in Raytheon during the third quarter valued at $103,000. Squar Milner Financial Services LLC purchased a new position in Raytheon during the second quarter valued at $100,000. Fort L.P. purchased a new position in Raytheon during the second quarter valued at $117,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in Raytheon during the third quarter valued at $134,000. Hedge funds and other institutional investors own 73.24% of the company’s stock.
In other Raytheon news, VP Taylor W. Lawrence sold 3,299 shares of Raytheon stock in a transaction on 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 transaction, the vice president now directly owns 44,220 shares of the company’s stock, valued at approximately $8,817,910.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.19% of the company’s stock.
Several equities analysts recently weighed in on RTN shares. 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. UBS Group started 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. Stifel Nicolaus cut 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. Bank of America cut 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. Finally, Wells Fargo & Co cut 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. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $231.08.
RTN opened at $188.02 on Friday. The firm has a market cap of $53.31 billion, a P/E ratio of 24.67, a P/E/G ratio of 1.40 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 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.28. Raytheon had a net margin of 9.33% and a return on equity of 24.43%. The business had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same period last year, the company posted $1.97 EPS. As a group, research analysts predict that Raytheon will post 10.1 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 8th. Shareholders of record on Wednesday, October 10th were paid a $0.8675 dividend. The ex-dividend date of this dividend was Tuesday, October 9th. This represents a $3.47 dividend on an annualized basis and a dividend yield of 1.85%. Raytheon’s payout ratio is currently 45.54%.
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Raytheon Company 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.
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