Lyell Wealth Management LP lessened its holdings in shares of Raytheon (NYSE:RTN) by 2.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 18,726 shares of the aerospace company’s stock after selling 500 shares during the quarter. Lyell Wealth Management LP’s holdings in Raytheon were worth $3,870,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in RTN. BlackRock Inc. lifted its holdings in shares of Raytheon by 1.3% in the second quarter. BlackRock Inc. now owns 21,910,796 shares of the aerospace company’s stock valued at $4,232,729,000 after buying an additional 279,001 shares during the period. FMR LLC lifted its holdings in shares of Raytheon by 3.6% in the second quarter. FMR LLC now owns 8,242,330 shares of the aerospace company’s stock valued at $1,592,253,000 after buying an additional 283,720 shares during the period. Macquarie Group Ltd. raised its position in shares of Raytheon by 2.8% during the second quarter. Macquarie Group Ltd. now owns 3,459,211 shares of the aerospace company’s stock worth $668,250,000 after purchasing an additional 94,161 shares during the period. Northern Trust Corp raised its position in shares of Raytheon by 1.2% during the second quarter. Northern Trust Corp now owns 3,279,555 shares of the aerospace company’s stock worth $633,543,000 after purchasing an additional 39,666 shares during the period. Finally, Morgan Stanley raised its position in shares of Raytheon by 16.4% during the second quarter. Morgan Stanley now owns 3,268,371 shares of the aerospace company’s stock worth $631,383,000 after purchasing an additional 461,461 shares during the period. Institutional investors own 72.96% of the company’s stock.
RTN has been the topic of a number of recent analyst reports. Morgan Stanley cut their target price on Raytheon from $239.00 to $228.00 and set an “overweight” rating on the stock in a research report on Thursday, July 12th. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $224.00 target price on the stock in a research report on Wednesday, July 18th. Stifel Nicolaus cut their target price on Raytheon from $235.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, July 27th. UBS Group initiated coverage on Raytheon in a research report on Wednesday, August 15th. They set a “buy” rating and a $250.00 target price on the stock. Finally, Bank of America cut their target price on Raytheon from $245.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, October 26th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $229.14.
NYSE:RTN opened at $177.38 on Wednesday. The firm has a market cap of $50.34 billion, a P/E ratio of 23.28, a price-to-earnings-growth ratio of 1.26 and a beta of 0.68. Raytheon has a 1-year low of $165.00 and a 1-year high of $229.75. The company has a current ratio of 1.49, a quick ratio of 1.37 and a debt-to-equity ratio of 0.42.
Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, October 25th. The aerospace company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.28. The firm had revenue of $6.81 billion for 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 period in the previous year, the firm earned $1.97 earnings per share. Equities research analysts predict that Raytheon will post 10.1 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 8th. Investors of record on Wednesday, October 10th will be given a dividend of $0.8675 per share. This represents a $3.47 annualized dividend and a yield of 1.96%. The ex-dividend date is Tuesday, October 9th. Raytheon’s payout ratio is 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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