Public Employees Retirement Association of Colorado cut its position in Raytheon (NYSE:RTN) by 0.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 464,703 shares of the aerospace company’s stock after selling 3,528 shares during the period. Public Employees Retirement Association of Colorado owned approximately 0.17% of Raytheon worth $80,803,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in RTN. BlackRock Inc. grew its holdings in Raytheon by 2.3% during the first quarter. BlackRock Inc. now owns 23,365,818 shares of the aerospace company’s stock worth $4,254,449,000 after acquiring an additional 527,708 shares during the period. Amundi Pioneer Asset Management Inc. grew its holdings in Raytheon by 7.3% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 4,165,178 shares of the aerospace company’s stock worth $758,397,000 after acquiring an additional 284,688 shares during the period. Geode Capital Management LLC grew its holdings in Raytheon by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 3,729,683 shares of the aerospace company’s stock worth $570,952,000 after acquiring an additional 186,460 shares during the period. Clearbridge Investments LLC grew its holdings in Raytheon by 1.6% during the first quarter. Clearbridge Investments LLC now owns 3,018,011 shares of the aerospace company’s stock worth $549,519,000 after acquiring an additional 47,460 shares during the period. Finally, LSV Asset Management grew its holdings in Raytheon by 829.0% during the first quarter. LSV Asset Management now owns 2,129,350 shares of the aerospace company’s stock worth $387,712,000 after acquiring an additional 1,900,150 shares during the period. 74.71% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently commented on RTN. Stifel Nicolaus raised their target price on Raytheon from $205.00 to $218.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Wolfe Research set a $205.00 target price on Raytheon and gave the stock a “buy” rating in a report on Friday, April 26th. Buckingham Research lowered Raytheon from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $265.00 to $195.00 in a report on Monday, June 24th. ValuEngine lowered Raytheon from a “hold” rating to a “sell” rating in a report on Friday, June 28th. Finally, Bank of America reaffirmed a “buy” rating and set a $265.00 target price (up from $224.00) on shares of Raytheon in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company’s stock. Raytheon presently has a consensus rating of “Buy” and a consensus target price of $209.80.
RTN traded down $0.63 during trading on Tuesday, hitting $182.91. The company’s stock had a trading volume of 32,020 shares, compared to its average volume of 1,932,236. The company has a quick ratio of 1.35, a current ratio of 1.46 and a debt-to-equity ratio of 0.41. Raytheon has a twelve month low of $144.27 and a twelve month high of $210.89. The business’s fifty day moving average price is $180.01. The company has a market cap of $52.04 billion, a price-to-earnings ratio of 17.25, a price-to-earnings-growth ratio of 1.50 and a beta of 0.86.
Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, July 25th. The aerospace company reported $2.92 EPS for the quarter, beating the consensus estimate of $2.61 by $0.31. Raytheon had a return on equity of 26.34% and a net margin of 10.96%. The company had revenue of $7.16 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same period last year, the company earned $2.45 earnings per share. Raytheon’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities research analysts forecast that Raytheon will post 11.69 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a $0.9425 dividend. This represents a $3.77 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend was Tuesday, July 9th. Raytheon’s payout ratio is currently 35.53%.
Raytheon Company develops integrated products, services, and solutions for the 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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