Epoch Investment Partners Inc. reduced its holdings in Raytheon (NYSE:RTN) by 60.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,126 shares of the aerospace company’s stock after selling 146,139 shares during the period. Epoch Investment Partners Inc.’s holdings in Raytheon were worth $19,659,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. WESPAC Advisors SoCal LLC purchased a new position in Raytheon during the third quarter worth about $103,000. Fort L.P. purchased a new position in Raytheon during the second quarter worth about $117,000. Mainstay Capital Management LLC ADV raised its stake in Raytheon by 19,218.3% during the second quarter. Mainstay Capital Management LLC ADV now owns 25,307 shares of the aerospace company’s stock worth $131,000 after purchasing an additional 25,176 shares during the period. Salem Investment Counselors Inc. raised its stake in Raytheon by 140.8% during the second quarter. Salem Investment Counselors Inc. now owns 684 shares of the aerospace company’s stock worth $132,000 after purchasing an additional 400 shares during the period. Finally, Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in Raytheon during the third quarter worth about $134,000. 73.25% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have commented on RTN. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $233.00 target price on the stock in a research note on Wednesday, October 3rd. UBS Group began coverage on shares of Raytheon in a research note on Wednesday, August 15th. They set a “buy” rating and a $250.00 target price on the stock. Morgan Stanley reduced their target price on shares of 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 reduced their target price on shares of 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 reduced their target price on shares of Raytheon from $245.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, October 26th. Four equities 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 a consensus price target of $227.15.
Shares of RTN opened at $165.11 on Friday. Raytheon has a 1-year low of $162.31 and a 1-year high of $229.75. The stock 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. 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 quarterly earnings results on Thursday, October 25th. The aerospace company reported $2.25 earnings per share for the quarter, beating 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 business earned $1.97 earnings per share. As a group, equities research analysts predict that Raytheon will post 10.1 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Wednesday, January 2nd will be given a dividend of $0.8675 per share. This represents a $3.47 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Monday, December 31st. Raytheon’s dividend payout ratio is presently 45.54%.
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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