Public Employees Retirement Association of Colorado lessened its position in Raytheon Company (NYSE:RTN) by 0.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 475,103 shares of the aerospace company’s stock after selling 1,843 shares during the period. Public Employees Retirement Association of Colorado owned about 0.16% of Raytheon worth $88,645,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in RTN. St. Johns Investment Management Company LLC bought a new position in shares of Raytheon in the 2nd quarter valued at about $113,000. Jacobi Capital Management LLC grew its position in shares of Raytheon by 271.1% in the 1st quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock valued at $114,000 after acquiring an additional 553 shares during the period. Tarbox Family Office Inc. grew its position in shares of Raytheon by 1,666.7% in the 2nd quarter. Tarbox Family Office Inc. now owns 795 shares of the aerospace company’s stock valued at $128,000 after acquiring an additional 750 shares during the period. Shine Investment Advisory Services Inc. bought a new position in shares of Raytheon in the 2nd quarter valued at about $139,000. Finally, CWM LLC grew its position in shares of Raytheon by 7.4% in the 2nd quarter. CWM LLC now owns 916 shares of the aerospace company’s stock valued at $148,000 after acquiring an additional 63 shares during the period. 74.24% of the stock is owned by institutional investors.
Raytheon Company (NYSE RTN) opened at $184.46 on Tuesday. The company has a market cap of $53,426.17, a P/E ratio of 24.45, a PEG ratio of 2.51 and a beta of 0.57. The company has a quick ratio of 1.55, a current ratio of 1.66 and a debt-to-equity ratio of 0.44. Raytheon Company has a 12-month low of $137.70 and a 12-month high of $190.25.
Raytheon (NYSE:RTN) last issued its earnings results on Thursday, October 26th. The aerospace company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.90 by $0.07. The company had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.33 billion. Raytheon had a net margin of 8.77% and a return on equity of 20.98%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.79 EPS. sell-side analysts predict that Raytheon Company will post 7.61 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Thursday, October 12th were given a $0.7975 dividend. This represents a $3.19 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Wednesday, October 11th. Raytheon’s payout ratio is presently 42.88%.
In other news, VP Taylor W. Lawrence sold 3,791 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $182.09, for a total value of $690,303.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Frank R. Jimenez sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $181.94, for a total transaction of $90,970.00. Following the completion of the transaction, the vice president now owns 29,292 shares of the company’s stock, valued at $5,329,386.48. The disclosure for this sale can be found here. Insiders sold a total of 4,941 shares of company stock valued at $902,999 over the last 90 days. Corporate insiders own 0.19% of the company’s stock.
A number of research firms have recently issued reports on RTN. Vetr cut shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 target price for the company. in a research note on Tuesday, August 15th. Stifel Nicolaus restated a “buy” rating and set a $185.00 target price (up previously from $175.00) on shares of Raytheon in a research note on Sunday, July 30th. Sanford C. Bernstein restated an “outperform” rating and set a $183.00 target price (up previously from $180.00) on shares of Raytheon in a research note on Sunday, July 30th. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a research note on Wednesday, September 20th. Finally, Cowen and Company restated an “outperform” rating and set a $189.00 target price (up previously from $182.00) on shares of Raytheon in a research note on Thursday, August 10th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $199.24.
Raytheon Company Profile
Raytheon Company is a technology company, which specializes in defense and other government markets. The Company develops integrated products, services and solutions in various markets, including sensing; effects; command, control, communications, computers, cyber and intelligence; mission support, and cybersecurity.
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