Public Employees Retirement Association of Colorado lifted its holdings in shares of Raytheon (NYSE:RTN) by 17.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 545,898 shares of the aerospace company’s stock after acquiring an additional 81,195 shares during the quarter. Public Employees Retirement Association of Colorado owned 0.20% of Raytheon worth $107,100,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Nuveen Asset Management LLC boosted its stake in Raytheon by 11,865.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,593,864 shares of the aerospace company’s stock valued at $277,141,000 after acquiring an additional 1,580,544 shares during the last quarter. Thoroughbred Financial Services LLC raised its stake in shares of Raytheon by 17,408.1% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,107,038 shares of the aerospace company’s stock valued at $110,704,000 after purchasing an additional 1,100,715 shares in the last quarter. Point72 Asset Management L.P. raised its stake in shares of Raytheon by 1,380.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 876,706 shares of the aerospace company’s stock valued at $152,442,000 after purchasing an additional 817,506 shares in the last quarter. Balyasny Asset Management LLC raised its stake in shares of Raytheon by 2,697.2% in the 2nd quarter. Balyasny Asset Management LLC now owns 522,384 shares of the aerospace company’s stock valued at $90,832,000 after purchasing an additional 503,709 shares in the last quarter. Finally, Viking Global Investors LP bought a new position in shares of Raytheon during the second quarter worth about $78,321,000. 74.30% of the stock is currently owned by institutional investors and hedge funds.
NYSE:RTN opened at $214.06 on Tuesday. Raytheon has a 12-month low of $144.27 and a 12-month high of $220.03. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.54 and a quick ratio of 1.44. The business has a 50 day simple moving average of $212.64 and a 200 day simple moving average of $191.15. The firm has a market capitalization of $60.65 billion, a P/E ratio of 20.18, a P/E/G ratio of 1.72 and a beta of 0.88.
Raytheon (NYSE:RTN) last announced its quarterly earnings results on Thursday, October 24th. The aerospace company reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.22. Raytheon had a net margin of 11.47% and a return on equity of 27.23%. The company had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter in the previous year, the company posted $2.25 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Research analysts anticipate that Raytheon will post 11.86 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Wednesday, January 8th will be paid a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Tuesday, January 7th. Raytheon’s payout ratio is 35.53%.
In other news, Director Tracy A. Atkinson sold 500 shares of Raytheon stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $215.48, for a total transaction of $107,740.00. Following the sale, the director now owns 4,376 shares of the company’s stock, valued at $942,940.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Randa G. Newsome sold 4,300 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $199.10, for a total value of $856,130.00. Following the transaction, the vice president now owns 18,281 shares of the company’s stock, valued at $3,639,747.10. The disclosure for this sale can be found here. Insiders have sold a total of 10,215 shares of company stock valued at $2,038,770 over the last three months. 0.18% of the stock is currently owned by company insiders.
RTN has been the subject of a number of research reports. Credit Suisse Group lifted their price target on Raytheon from $230.00 to $235.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Sanford C. Bernstein upped their price objective on Raytheon from $212.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, October 25th. UBS Group set a $230.00 target price on Raytheon and gave the stock a “hold” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. set a $240.00 price target on Raytheon and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Barclays set a $215.00 price objective on Raytheon and gave the stock a “hold” rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $217.76.
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.
Further Reading: What is a Reverse Stock Split?
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.