Fishman Jay A Ltd. MI Decreases Holdings in Raytheon (NYSE:RTN)

Fishman Jay A Ltd. MI trimmed its position in Raytheon (NYSE:RTN) by 0.7% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 96,600 shares of the aerospace company’s stock after selling 695 shares during the period. Raytheon comprises approximately 3.5% of Fishman Jay A Ltd. MI’s holdings, making the stock its 10th largest holding. Fishman Jay A Ltd. MI’s holdings in Raytheon were worth $18,952,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in RTN. Nuveen Asset Management LLC boosted its position in Raytheon by 11,865.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,593,864 shares of the aerospace company’s stock valued at $277,141,000 after buying an additional 1,580,544 shares during the last quarter. Thoroughbred Financial Services LLC boosted its position in Raytheon by 17,408.1% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,107,038 shares of the aerospace company’s stock valued at $110,704,000 after buying an additional 1,100,715 shares during the last quarter. Point72 Asset Management L.P. boosted its position in Raytheon by 1,380.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 876,706 shares of the aerospace company’s stock valued at $152,442,000 after buying an additional 817,506 shares during the last quarter. Balyasny Asset Management LLC boosted its position in Raytheon by 2,697.2% in the 2nd quarter. Balyasny Asset Management LLC now owns 522,384 shares of the aerospace company’s stock valued at $90,832,000 after buying an additional 503,709 shares during the last quarter. Finally, Viking Global Investors LP bought a new position in Raytheon in the 2nd quarter valued at $78,321,000. Hedge funds and other institutional investors own 72.63% of the company’s stock.

In other Raytheon news, VP Frank R. Jimenez sold 1,054 shares of Raytheon stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $180.00, for a total value of $189,720.00. Following the sale, the vice president now owns 25,863 shares of the company’s stock, valued at approximately $4,655,340. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Frank R. Jimenez sold 2,500 shares of Raytheon stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $196.76, for a total value of $491,900.00. Following the completion of the sale, the vice president now directly owns 25,504 shares in the company, valued at approximately $5,018,167.04. The disclosure for this sale can be found here. Insiders have sold a total of 10,769 shares of company stock worth $2,120,750 in the last ninety days. 0.18% of the stock is currently owned by company insiders.

A number of research analysts have commented on the company. ValuEngine upgraded Raytheon from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. UBS Group set a $230.00 price objective on Raytheon and gave the company a “hold” rating in a research report on Friday, October 25th. Credit Suisse Group increased their price objective on Raytheon from $230.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Cowen restated a “buy” rating and issued a $225.00 price target on shares of Raytheon in a research report on Thursday, October 24th. Finally, Barclays set a $215.00 price target on Raytheon and gave the stock a “hold” rating in a research report on Tuesday, October 8th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $217.94.

Shares of NYSE:RTN traded up $0.84 during midday trading on Friday, hitting $215.84. The company had a trading volume of 1,149,100 shares, compared to its average volume of 1,897,773. Raytheon has a 12 month low of $144.27 and a 12 month high of $218.00. The company has a current ratio of 1.54, a quick ratio of 1.44 and a debt-to-equity ratio of 0.38. The stock has a market cap of $59.34 billion, a price-to-earnings ratio of 20.34, a PEG ratio of 1.69 and a beta of 0.89. The firm has a fifty day simple moving average of $202.76 and a 200 day simple moving average of $186.79.

Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, October 24th. The aerospace company reported $3.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.86 by $0.22. The business had revenue of $7.45 billion for the quarter, compared to analyst estimates of $7.29 billion. Raytheon had a return on equity of 27.23% and a net margin of 11.47%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the company earned $2.25 EPS. Equities analysts forecast that Raytheon will post 11.84 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 7th. Investors of record on Wednesday, October 9th were paid a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a yield of 1.75%. The ex-dividend date was Tuesday, October 8th. Raytheon’s payout ratio is presently 35.53%.

Raytheon Company Profile

Raytheon Company develops integrated products, services, and solutions for the 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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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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