Evercore Wealth Management LLC trimmed its position in Raytheon (NYSE:RTN) by 44.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,408 shares of the aerospace company’s stock after selling 4,287 shares during the period. Evercore Wealth Management LLC’s holdings in Raytheon were worth $1,118,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in RTN. Cornerstone Wealth Management LLC boosted its stake in Raytheon by 4,885.3% in the second quarter. Cornerstone Wealth Management LLC now owns 47,859 shares of the aerospace company’s stock valued at $246,000 after acquiring an additional 46,899 shares in the last quarter. Bainco International Investors boosted its stake in Raytheon by 3.4% in the second quarter. Bainco International Investors now owns 24,375 shares of the aerospace company’s stock valued at $4,709,000 after acquiring an additional 795 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Raytheon in the second quarter valued at approximately $3,076,000. Victory Capital Management Inc. boosted its stake in Raytheon by 10.3% in the second quarter. Victory Capital Management Inc. now owns 26,207 shares of the aerospace company’s stock valued at $5,063,000 after acquiring an additional 2,455 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its stake in Raytheon by 5.4% in the second quarter. Kornitzer Capital Management Inc. KS now owns 7,560 shares of the aerospace company’s stock valued at $1,460,000 after acquiring an additional 390 shares in the last quarter. Institutional investors own 73.25% of the company’s stock.
NYSE:RTN opened at $165.11 on Friday. Raytheon has a 12 month low of $162.31 and a 12 month 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. The firm has a market cap of $47.15 billion, a PE ratio of 21.67, a P/E/G ratio of 1.18 and a beta of 0.81.
Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, October 25th. The aerospace company reported $2.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 the consensus estimate of $6.67 billion. During the same period in the previous year, the firm posted $1.97 earnings per share. On average, equities analysts predict that Raytheon will post 10.1 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 31st. Stockholders of record on Wednesday, January 2nd will be paid a dividend of $0.8675 per share. The ex-dividend date is Monday, December 31st. This represents a $3.47 annualized dividend and a dividend yield of 2.10%. Raytheon’s payout ratio is currently 45.54%.
Several equities research analysts have weighed in on RTN shares. Zacks Investment Research upgraded 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 issued a “buy” rating and a $250.00 target price for the company. Barclays lowered their target price on shares of Raytheon from $239.00 to $195.00 and set an “equal weight” rating for the company in a research note on Tuesday. Bank of America lowered 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 lowered 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 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 a consensus target price of $227.15.
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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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