Cambridge Investment Research Advisors Inc. grew its position in shares of Raytheon (NYSE:RTN) by 12.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,882 shares of the aerospace company’s stock after buying an additional 6,258 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Raytheon were worth $11,549,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently bought and sold shares of RTN. Charles Schwab Investment Advisory Inc. bought a new position in Raytheon during the second quarter valued at approximately $230,415,000. Wells Fargo & Company MN lifted its position in Raytheon by 45.2% during the second quarter. Wells Fargo & Company MN now owns 2,698,919 shares of the aerospace company’s stock valued at $521,378,000 after purchasing an additional 840,321 shares during the period. Putnam Investments LLC lifted its position in Raytheon by 49.8% during the second quarter. Putnam Investments LLC now owns 2,154,197 shares of the aerospace company’s stock valued at $416,148,000 after purchasing an additional 716,446 shares during the period. Morgan Stanley lifted its position in Raytheon by 16.4% during the second quarter. Morgan Stanley now owns 3,268,371 shares of the aerospace company’s stock valued at $631,383,000 after purchasing an additional 461,461 shares during the period. Finally, American Century Companies Inc. bought a new position in Raytheon during the second quarter valued at approximately $85,666,000. Hedge funds and other institutional investors own 73.24% of the company’s stock.
RTN opened at $184.80 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.37 and a current ratio of 1.49. Raytheon has a 1-year low of $165.00 and a 1-year high of $229.75. The company has a market capitalization of $51.66 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 1.36 and a beta of 0.84.
Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, October 25th. The aerospace company reported $2.25 earnings per share 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 for the quarter, compared to the consensus estimate of $6.67 billion. During the same period last year, the firm earned $1.97 earnings per share. On average, equities analysts anticipate 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. Shareholders of record on Wednesday, October 10th will be given a $0.8675 dividend. The ex-dividend date is Tuesday, October 9th. This represents a $3.47 annualized dividend and a yield of 1.88%. Raytheon’s payout ratio is presently 45.54%.
In other Raytheon news, VP Taylor W. Lawrence sold 3,299 shares of the stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $199.41, for a total value of $657,853.59. Following the transaction, the vice president now directly owns 44,220 shares in the company, valued at $8,817,910.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by company insiders.
A number of research analysts recently weighed in on the stock. Wells Fargo & Co lowered their price objective on shares of Raytheon from $225.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, October 26th. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $221.00 price objective on the stock in a research report on Thursday, August 2nd. Morgan Stanley lowered their price objective on shares of Raytheon from $239.00 to $228.00 and set an “overweight” rating on the stock in a research report on Thursday, July 12th. Bank of America lowered their price objective on shares of Raytheon from $245.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, October 26th. Finally, Stifel Nicolaus lowered their price objective on shares of Raytheon from $235.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, July 27th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $231.08.
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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