Highbridge Capital Management LLC purchased a new position in Raytheon (NYSE:RTN) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 11,906 shares of the aerospace company’s stock, valued at approximately $2,460,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Investment Partners LTD. purchased a new stake in Raytheon in the 3rd quarter valued at approximately $207,000. WESPAC Advisors SoCal LLC purchased a new stake in Raytheon in the 3rd quarter valued at approximately $103,000. Fort L.P. purchased a new stake in Raytheon in the 2nd quarter valued at approximately $117,000. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in Raytheon in the 3rd quarter valued at approximately $134,000. Finally, Psagot Investment House Ltd. lifted its stake in Raytheon by 4,900.0% in the 3rd quarter. Psagot Investment House Ltd. now owns 650 shares of the aerospace company’s stock valued at $134,000 after buying an additional 637 shares in the last quarter. Institutional investors and hedge funds own 73.25% of the company’s stock.
RTN has been the topic of a number of recent research reports. UBS Group initiated coverage on Raytheon in a research note on Wednesday, August 15th. They issued a “buy” rating and a $250.00 target price on the stock. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $233.00 target price on the stock in a research note on Wednesday, October 3rd. Bank of America reduced their target price on Raytheon from $245.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, October 26th. Wells Fargo & Co reduced their target price on Raytheon from $225.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, October 26th. Finally, Morgan Stanley reduced their target price on Raytheon from $228.00 to $221.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 14th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $227.15.
Shares of Raytheon stock opened at $168.18 on Friday. Raytheon has a fifty-two week low of $162.31 and a fifty-two week high of $229.75. The firm has a market cap of $47.15 billion, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 1.18 and a beta of 0.81. 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 (NYSE:RTN) last issued its quarterly earnings results on Thursday, October 25th. The aerospace company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.28. Raytheon had a return on equity of 24.43% and a net margin of 9.33%. The company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. During the same quarter in the prior year, the company posted $1.97 EPS. Analysts expect that Raytheon will post 10.1 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Wednesday, January 2nd will be paid a dividend of $0.8675 per share. This represents a $3.47 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Monday, December 31st. Raytheon’s dividend payout ratio is presently 45.54%.
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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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