Public Employees Retirement Association of Colorado grew its position in Raytheon (NYSE:RTN) by 17.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 545,898 shares of the aerospace company’s stock after buying an additional 81,195 shares during the quarter. Public Employees Retirement Association of Colorado owned approximately 0.20% of Raytheon worth $107,100,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in RTN. Liberty Wealth Management LLC boosted its holdings in shares of Raytheon by 312.5% in the third quarter. Liberty Wealth Management LLC now owns 132 shares of the aerospace company’s stock worth $26,000 after buying an additional 100 shares during the period. Bridger Capital Management LLC acquired a new stake in shares of Raytheon during the third quarter worth approximately $26,000. Garrett Wealth Advisory Group LLC acquired a new stake in shares of Raytheon during the third quarter worth approximately $32,000. Sound Income Strategies LLC boosted its holdings in shares of Raytheon by 95.3% during the third quarter. Sound Income Strategies LLC now owns 166 shares of the aerospace company’s stock worth $33,000 after purchasing an additional 81 shares during the period. Finally, First Financial Corp IN acquired a new stake in shares of Raytheon during the third quarter worth approximately $33,000. Institutional investors own 72.63% of the company’s stock.
In related news, VP Wesley D. Kremer sold 2,915 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $200.00, for a total transaction of $583,000.00. Following the transaction, the vice president now owns 26,260 shares of the company’s stock, valued at $5,252,000. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Frank R. Jimenez sold 2,500 shares of Raytheon stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $196.76, for a total transaction of $491,900.00. Following the completion of the transaction, 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. In the last ninety days, insiders have sold 10,769 shares of company stock worth $2,120,750. Insiders own 0.18% of the company’s stock.
Several analysts recently commented on RTN shares. UBS Group set a $230.00 price target on shares of Raytheon and gave the stock a “hold” rating in a report on Friday, October 25th. JPMorgan Chase & Co. set a $240.00 price target on shares of Raytheon and gave the stock a “buy” rating in a report on Friday, October 25th. Credit Suisse Group raised their price target on shares of Raytheon from $230.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Cowen restated a “buy” rating and set a $225.00 price target on shares of Raytheon in a report on Thursday, October 24th. Finally, Wolfe Research set a $221.00 price target on shares of Raytheon and gave the stock a “buy” rating in a report on Friday, October 25th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Raytheon currently has an average rating of “Buy” and an average price target of $217.94.
RTN traded up $0.84 during midday trading on Friday, hitting $215.84. 1,149,100 shares of the company’s stock traded hands, compared to its average volume of 1,897,773. The company has a market cap of $59.34 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 1.69 and a beta of 0.89. The stock’s fifty day simple moving average is $202.76 and its 200-day simple moving average is $186.79. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.54 and a quick ratio of 1.44. Raytheon has a one year low of $144.27 and a one year high of $218.00.
Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, October 24th. The aerospace company reported $3.08 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.22. The firm had revenue of $7.45 billion for the quarter, compared to analyst estimates of $7.29 billion. Raytheon had a net margin of 11.47% and a return on equity of 27.23%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.25 earnings per share. On average, research analysts expect that Raytheon will post 11.84 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 7th. Investors of record on Wednesday, October 9th were given 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 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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