Amalgamated Bank cut its stake in shares of Raytheon (NYSE:RTN) by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,462 shares of the aerospace company’s stock after selling 1,390 shares during the period. Amalgamated Bank’s holdings in Raytheon were worth $8,982,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Howe & Rusling Inc. grew its stake in Raytheon by 21.8% in the third quarter. Howe & Rusling Inc. now owns 81,233 shares of the aerospace company’s stock worth $16,788,000 after purchasing an additional 14,532 shares in the last quarter. Investment Partners LTD. bought a new position in Raytheon in the third quarter worth approximately $207,000. Legacy Capital Partners Inc. grew its stake in Raytheon by 11.5% in the third quarter. Legacy Capital Partners Inc. now owns 8,369 shares of the aerospace company’s stock worth $1,729,000 after purchasing an additional 860 shares in the last quarter. Rice Partnership LLC grew its stake in Raytheon by 13.4% in the second quarter. Rice Partnership LLC now owns 15,749 shares of the aerospace company’s stock worth $3,042,000 after purchasing an additional 1,857 shares in the last quarter. Finally, Bridgewater Associates LP bought a new position in Raytheon in the second quarter worth approximately $9,051,000. Institutional investors and hedge funds own 73.25% of the company’s stock.
Raytheon stock opened at $165.11 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.49 and a debt-to-equity ratio of 0.42. The firm has a market cap of $47.15 billion, a price-to-earnings ratio of 21.67, a P/E/G ratio of 1.18 and a beta of 0.81. Raytheon has a twelve month low of $162.31 and a twelve month high of $229.75.
Raytheon (NYSE:RTN) last posted its earnings results 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 company had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.67 billion. Raytheon had a return on equity of 24.43% and a net margin of 9.33%. During the same quarter in the prior year, the business earned $1.97 earnings per share. Analysts anticipate that Raytheon will post 10.1 earnings per share for the current fiscal year.
The business 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 of this dividend is Monday, December 31st. This represents a $3.47 dividend on an annualized basis and a yield of 2.10%. Raytheon’s dividend payout ratio is currently 45.54%.
Several research analysts recently issued reports on the company. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $233.00 price objective on the stock in a research note on Wednesday, October 3rd. UBS Group assumed coverage on Raytheon in a research note on Wednesday, August 15th. They issued a “buy” rating and a $250.00 price objective on the stock. Morgan Stanley dropped their price objective on Raytheon from $228.00 to $221.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 14th. Wells Fargo & Co dropped their price objective on Raytheon from $225.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, October 26th. Finally, Bank of America dropped their price objective on Raytheon from $245.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, October 26th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $227.15.
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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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