Public Employees Retirement Association of Colorado grew its position in Raytheon (NYSE:RTN) by 17.5% during the 3rd quarter, Holdings Channel reports. The firm owned 545,898 shares of the aerospace company’s stock after purchasing an additional 81,195 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Raytheon were worth $107,100,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of RTN. Liberty Wealth Management LLC boosted its stake in shares of Raytheon by 312.5% in the 3rd quarter. Liberty Wealth Management LLC now owns 132 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 100 shares in the last quarter. Bridger Capital Management LLC acquired a new stake in shares of Raytheon in the 3rd quarter valued at $26,000. Garrett Wealth Advisory Group LLC acquired a new stake in shares of Raytheon in the 3rd quarter valued at $32,000. Sound Income Strategies LLC boosted its stake in shares of Raytheon by 95.3% in the 3rd quarter. Sound Income Strategies LLC now owns 166 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 81 shares in the last quarter. Finally, First Financial Corp IN acquired a new stake in shares of Raytheon in the 3rd quarter valued at $33,000. Institutional investors own 72.63% of the company’s stock.
A number of research analysts recently issued reports on the company. Sanford C. Bernstein lifted their price target on Raytheon from $212.00 to $225.00 and gave the company a “positive” rating in a report on Friday, October 25th. Bank of America reaffirmed a “buy” rating and issued a $265.00 price target (up from $224.00) on shares of Raytheon in a report on Friday, July 26th. Wolfe Research set a $221.00 price target on Raytheon and gave the company a “buy” rating in a report on Friday, October 25th. UBS Group set a $230.00 price target on Raytheon and gave the company a “hold” rating in a report on Friday, October 25th. Finally, ValuEngine raised Raytheon from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Raytheon currently has an average rating of “Buy” and an average price target of $217.94.
Shares of Raytheon stock traded up $0.84 during trading on Friday, reaching $215.84. The company’s stock had a trading volume of 1,149,100 shares, compared to its average volume of 1,897,773. The stock has a 50-day moving average price of $202.76 and a two-hundred day moving average price of $186.79. The company has a current ratio of 1.54, a quick ratio of 1.44 and a debt-to-equity ratio of 0.38. Raytheon has a one year low of $144.27 and a one year high of $218.00. The stock has a market capitalization of $59.34 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 1.69 and a beta of 0.89.
Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, October 24th. The aerospace company reported $3.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.86 by $0.22. The firm had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.29 billion. Raytheon had a return on equity of 27.23% and a net margin of 11.47%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.25 EPS. As a group, sell-side analysts anticipate that Raytheon will post 11.84 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 7th. Shareholders of record on Wednesday, October 9th were issued a dividend of $0.9425 per share. The ex-dividend date was Tuesday, October 8th. This represents a $3.77 annualized dividend and a yield of 1.75%. Raytheon’s dividend 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.
Recommended Story: Why does the United States have a lingering trade deficit?
Want to see what other hedge funds are holding RTN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raytheon (NYSE:RTN).
Receive News & Ratings for Raytheon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon and related companies with MarketBeat.com's FREE daily email newsletter.