Raytheon (RTN) Shares Bought by ETF Managers Group LLC

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ETF Managers Group LLC raised its position in Raytheon (NYSE:RTN) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,989 shares of the aerospace company’s stock after purchasing an additional 135 shares during the quarter. ETF Managers Group LLC’s holdings in Raytheon were worth $612,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RTN. Alliancebernstein L.P. raised its position in Raytheon by 33.3% in the third quarter. Alliancebernstein L.P. now owns 4,054,014 shares of the aerospace company’s stock valued at $837,803,000 after purchasing an additional 1,013,436 shares during the period. Standard Life Aberdeen plc raised its position in Raytheon by 64.9% in the third quarter. Standard Life Aberdeen plc now owns 1,950,068 shares of the aerospace company’s stock valued at $403,010,000 after purchasing an additional 767,198 shares during the period. Pendal Group Ltd raised its position in Raytheon by 1,423.0% in the fourth quarter. Pendal Group Ltd now owns 736,834 shares of the aerospace company’s stock valued at $100,947,000 after purchasing an additional 688,455 shares during the period. BlackRock Inc. raised its position in Raytheon by 2.9% in the third quarter. BlackRock Inc. now owns 22,549,718 shares of the aerospace company’s stock valued at $4,660,126,000 after purchasing an additional 638,922 shares during the period. Finally, Mackenzie Financial Corp raised its position in Raytheon by 242.0% in the third quarter. Mackenzie Financial Corp now owns 565,776 shares of the aerospace company’s stock valued at $116,923,000 after purchasing an additional 400,353 shares during the period. 73.63% of the stock is currently owned by institutional investors.

Raytheon stock opened at $175.92 on Friday. Raytheon has a twelve month low of $144.27 and a twelve month high of $229.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.37 and a current ratio of 1.46. The firm has a market cap of $50.11 billion, a PE ratio of 16.58, a P/E/G ratio of 1.34 and a beta of 0.95.

Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, January 31st. The aerospace company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.04. Raytheon had a return on equity of 25.81% and a net margin of 10.75%. The business had revenue of $7.36 billion for the quarter, compared to analyst estimates of $7.50 billion. During the same quarter in the prior year, the company earned $2.03 earnings per share. Analysts predict that Raytheon will post 11.59 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 31st. Stockholders of record on Wednesday, January 2nd were given a dividend of $0.8675 per share. This represents a $3.47 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date was Monday, December 31st. Raytheon’s dividend payout ratio is currently 32.70%.

A number of analysts have issued reports on RTN shares. 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. Wells Fargo & Co cut their target price on Raytheon from $225.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, October 26th. Morgan Stanley cut their target price on Raytheon from $228.00 to $221.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 14th. Barclays cut their target price on Raytheon from $239.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 4th. Finally, Zacks Investment Research lowered Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, December 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $217.31.

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About Raytheon

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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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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