Canada Pension Plan Investment Board boosted its position in shares of Raytheon Company (NYSE:RTN) by 32.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 206,500 shares of the aerospace company’s stock after acquiring an additional 50,300 shares during the period. Canada Pension Plan Investment Board owned 0.07% of Raytheon worth $38,529,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in shares of Raytheon by 2,166.0% during the first quarter. BlackRock Inc. now owns 19,407,819 shares of the aerospace company’s stock valued at $2,959,694,000 after buying an additional 18,551,353 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Raytheon by 13,784.9% during the second quarter. Janus Henderson Group PLC now owns 1,494,150 shares of the aerospace company’s stock valued at $241,276,000 after buying an additional 1,483,389 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Raytheon by 4.7% during the first quarter. Vanguard Group Inc. now owns 21,910,520 shares of the aerospace company’s stock valued at $3,341,355,000 after buying an additional 989,986 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Raytheon by 55.2% during the second quarter. Alliancebernstein L.P. now owns 2,328,691 shares of the aerospace company’s stock valued at $376,037,000 after buying an additional 827,931 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its position in shares of Raytheon by 42.7% during the second quarter. UBS Asset Management Americas Inc. now owns 1,826,164 shares of the aerospace company’s stock valued at $294,889,000 after buying an additional 546,398 shares during the last quarter. 74.24% of the stock is owned by hedge funds and other institutional investors.
RTN has been the subject of a number of research analyst reports. BidaskClub lowered shares of Raytheon from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 19th. Argus reaffirmed a “buy” rating and set a $195.00 price objective (up previously from $175.00) on shares of Raytheon in a research report on Friday, August 4th. Bank of America Corporation reaffirmed a “buy” rating and set a $200.00 price objective (up previously from $185.00) on shares of Raytheon in a research report on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $185.00 price objective (up previously from $175.00) on shares of Raytheon in a research report on Sunday, July 30th. Finally, Buckingham Research upped their price objective on shares of Raytheon from $190.00 to $199.00 and gave the company a “buy” rating in a research report on Friday, August 11th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $199.24.
In other news, VP Frank R. Jimenez sold 500 shares of the 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 sale, the vice president now directly owns 29,292 shares of the company’s stock, valued at $5,329,386.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Taylor W. Lawrence sold 3,791 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $182.09, for a total transaction of $690,303.19. The disclosure for this sale can be found here. Insiders have sold 4,941 shares of company stock worth $902,999 over the last three months. 0.19% of the stock is owned by insiders.
Shares of Raytheon Company (NYSE:RTN) opened at $184.46 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.55 and a current ratio of 1.66. The firm has a market cap of $53,426.17, a PE ratio of 24.45, a price-to-earnings-growth ratio of 2.51 and a beta of 0.57. Raytheon Company has a 52 week low of $137.70 and a 52 week high of $190.25.
Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, October 26th. The aerospace company reported $1.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.07. The firm had revenue of $6.28 billion for 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 company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.79 earnings per share. sell-side analysts predict that Raytheon Company will post 7.61 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Thursday, October 12th were paid a dividend of $0.7975 per share. The ex-dividend date of this dividend was Wednesday, October 11th. This represents a $3.19 annualized dividend and a dividend yield of 1.73%. Raytheon’s dividend payout ratio (DPR) is currently 42.88%.
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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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