BB&T Securities LLC boosted its stake in Raytheon (NYSE:RTN) by 5.1% in the fourth quarter, Holdings Channel reports. The firm owned 75,313 shares of the aerospace company’s stock after acquiring an additional 3,648 shares during the period. BB&T Securities LLC’s holdings in Raytheon were worth $11,549,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc boosted its position in shares of Raytheon by 0.9% during the third quarter. Vanguard Group Inc now owns 23,074,017 shares of the aerospace company’s stock worth $4,768,477,000 after buying an additional 212,408 shares during the period. BlackRock Inc. boosted its position in shares of Raytheon by 2.9% during the third quarter. BlackRock Inc. now owns 22,549,718 shares of the aerospace company’s stock worth $4,660,126,000 after buying an additional 638,922 shares during the period. FMR LLC boosted its position in shares of Raytheon by 3.6% during the second quarter. FMR LLC now owns 8,242,330 shares of the aerospace company’s stock worth $1,592,253,000 after buying an additional 283,720 shares during the period. Alliancebernstein L.P. boosted its position in shares of Raytheon by 33.3% during the third quarter. Alliancebernstein L.P. now owns 4,054,014 shares of the aerospace company’s stock worth $837,803,000 after buying an additional 1,013,436 shares during the period. Finally, Macquarie Group Ltd. boosted its position in shares of Raytheon by 3.3% during the third quarter. Macquarie Group Ltd. now owns 3,572,420 shares of the aerospace company’s stock worth $738,275,000 after buying an additional 113,209 shares during the period. Institutional investors and hedge funds own 73.63% of the company’s stock.
Shares of NYSE RTN opened at $175.92 on Friday. Raytheon has a 52 week low of $144.27 and a 52 week high of $229.75. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.41. The company has a market cap of $50.11 billion, a P/E ratio of 16.58, a P/E/G ratio of 1.34 and a beta of 0.95.
Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, January 31st. The aerospace company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.89 by $0.04. Raytheon had a return on equity of 25.81% and a net margin of 10.75%. The firm had revenue of $7.36 billion during the quarter, compared to analysts’ expectations of $7.50 billion. During the same period in the prior year, the firm posted $2.03 earnings per share. As a group, equities research analysts anticipate that Raytheon will post 11.59 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, January 31st. Investors of record on Wednesday, January 2nd were given a dividend of $0.8675 per share. The ex-dividend date of this dividend was Monday, December 31st. This represents a $3.47 annualized dividend and a yield of 1.97%. Raytheon’s dividend payout ratio (DPR) is presently 32.70%.
Several research analysts have recently weighed in on the company. Zacks Investment Research cut Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, December 31st. ValuEngine cut Raytheon from a “hold” rating to a “sell” rating in a research report on Thursday, January 31st. Argus reaffirmed a “buy” rating and set a $200.00 price objective on shares of Raytheon in a research report on Friday, February 1st. Wells Fargo & Co reduced their price objective on Raytheon from $225.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, October 26th. Finally, Alembic Global Advisors raised Raytheon from a “neutral” rating to an “overweight” rating and set a $214.00 price objective for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $217.31.
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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