Howard Capital Management Acquires 972 Shares of Raytheon (RTN)

Howard Capital Management raised its holdings in shares of Raytheon (NYSE:RTN) by 1.1% during the third quarter, HoldingsChannel.com reports. The fund owned 90,046 shares of the aerospace company’s stock after purchasing an additional 972 shares during the quarter. Raytheon comprises about 2.5% of Howard Capital Management’s investment portfolio, making the stock its 10th biggest holding. Howard Capital Management’s holdings in Raytheon were worth $18,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the business. Legacy Capital Partners Inc. grew its position in shares of Raytheon by 11.5% during the 3rd quarter. Legacy Capital Partners Inc. now owns 8,369 shares of the aerospace company’s stock valued at $1,729,000 after purchasing an additional 860 shares in the last quarter. Bridgewater Associates LP purchased a new position in Raytheon in the second quarter worth $9,051,000. Rice Partnership LLC grew its position in Raytheon by 13.4% in the second quarter. Rice Partnership LLC now owns 15,749 shares of the aerospace company’s stock worth $3,042,000 after acquiring an additional 1,857 shares in the last quarter. FMR LLC grew its position in Raytheon by 3.6% in the second quarter. FMR LLC now owns 8,242,330 shares of the aerospace company’s stock worth $1,592,253,000 after acquiring an additional 283,720 shares in the last quarter. Finally, Korea Investment CORP grew its position in Raytheon by 1.7% in the second quarter. Korea Investment CORP now owns 419,438 shares of the aerospace company’s stock worth $81,027,000 after acquiring an additional 7,000 shares in the last quarter. 72.85% of the stock is currently owned by institutional investors and hedge funds.

NYSE RTN traded down $2.80 during trading on Wednesday, hitting $193.12. 65,538 shares of the company’s stock traded hands, compared to its average volume of 1,730,464. The company has a quick ratio of 1.51, a current ratio of 1.61 and a debt-to-equity ratio of 0.45. Raytheon has a 12-month low of $179.29 and a 12-month high of $229.75. The firm has a market cap of $58.95 billion, a price-to-earnings ratio of 25.55, a PEG ratio of 1.58 and a beta of 0.68.

Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, July 26th. The aerospace company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.46. Raytheon had a net margin of 9.24% and a return on equity of 24.01%. The business had revenue of $6.63 billion during the quarter, compared to analyst estimates of $6.51 billion. During the same period in the prior year, the business posted $1.98 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. Equities analysts expect that Raytheon will post 9.93 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 8th. Shareholders of record on Wednesday, October 10th will be given a dividend of $0.8675 per share. The ex-dividend date is Tuesday, October 9th. This represents a $3.47 annualized dividend and a yield of 1.80%. Raytheon’s payout ratio is 45.54%.

In other Raytheon news, VP Taylor W. Lawrence sold 3,299 shares of the company’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $199.41, for a total transaction of $657,853.59. Following the completion of the sale, the vice president now directly owns 44,220 shares in the company, valued at $8,817,910.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Several research analysts recently issued reports on RTN shares. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $233.00 target price for the company in a research report on Wednesday, October 3rd. Morgan Stanley cut their target price on shares of Raytheon from $239.00 to $228.00 and set an “overweight” rating for the company in a research report on Thursday, July 12th. Stifel Nicolaus cut their target price on shares of Raytheon from $235.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, July 27th. Finally, UBS Group started coverage on shares of Raytheon in a research report on Wednesday, August 15th. They issued a “buy” rating and a $250.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $228.43.

Raytheon Company Profile

Raytheon Company develops integrated products, services, and solutions for 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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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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