AMP Capital Investors Ltd decreased its stake in Raytheon (NYSE:RTN) by 0.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 183,949 shares of the aerospace company’s stock after selling 585 shares during the quarter. AMP Capital Investors Ltd owned approximately 0.06% of Raytheon worth $37,883,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Charles Schwab Investment Advisory Inc. purchased a new position in Raytheon during the second quarter worth approximately $230,415,000. Alliancebernstein L.P. boosted its position in Raytheon by 33.3% during the third quarter. Alliancebernstein L.P. now owns 4,054,014 shares of the aerospace company’s stock worth $837,803,000 after purchasing an additional 1,013,436 shares in the last quarter. Wells Fargo & Company MN boosted its position in Raytheon by 45.2% during the second quarter. Wells Fargo & Company MN now owns 2,698,919 shares of the aerospace company’s stock worth $521,378,000 after purchasing an additional 840,321 shares in the last quarter. Putnam Investments LLC boosted its position in Raytheon by 49.8% during the second quarter. Putnam Investments LLC now owns 2,154,197 shares of the aerospace company’s stock worth $416,148,000 after purchasing an additional 716,446 shares in the last quarter. Finally, BlackRock Inc. boosted its position in Raytheon by 2.9% during the third quarter. BlackRock Inc. now owns 22,549,718 shares of the aerospace company’s stock worth $4,660,126,000 after purchasing an additional 638,922 shares in the last quarter. Hedge funds and other institutional investors own 73.49% of the company’s stock.
A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $233.00 price target on the stock in a research report on Wednesday, October 3rd. UBS Group assumed coverage on Raytheon in a research report on Wednesday, August 15th. They set a “buy” rating and a $250.00 price target on the stock. Morgan Stanley lowered their price target on Raytheon from $228.00 to $221.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 14th. Wells Fargo & Co lowered their price target on Raytheon from $225.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, October 26th. Finally, Bank of America lowered their price target on Raytheon from $245.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, October 26th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $230.54.
Shares of Raytheon stock opened at $173.58 on Friday. Raytheon has a 12 month low of $165.00 and a 12 month high of $229.75. The company has a market cap of $48.85 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 1.23 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 announced its earnings results on Thursday, October 25th. The aerospace company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.28. Raytheon had a return on equity of 24.43% and a net margin of 9.33%. The business had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter in the prior year, the firm earned $1.97 earnings per share. As a group, equities research analysts anticipate that Raytheon will post 10.1 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Wednesday, January 2nd will be issued a dividend of $0.8675 per share. The ex-dividend date is Monday, December 31st. This represents a $3.47 dividend on an annualized basis and a dividend yield of 2.00%. Raytheon’s payout ratio is currently 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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