Marshall Wace LLP Buys Shares of 384,853 Raytheon (RTN)

Marshall Wace LLP bought a new position in Raytheon (NYSE:RTN) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 384,853 shares of the aerospace company’s stock, valued at approximately $79,534,000. Raytheon comprises approximately 0.7% of Marshall Wace LLP’s portfolio, making the stock its 20th biggest holding.

Other large investors have also recently made changes to their positions in the company. Cornerstone Wealth Management LLC increased its position in Raytheon by 4,885.3% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 47,859 shares of the aerospace company’s stock valued at $246,000 after buying an additional 46,899 shares in the last quarter. Bainco International Investors increased its position in Raytheon by 3.4% during the 2nd quarter. Bainco International Investors now owns 24,375 shares of the aerospace company’s stock valued at $4,709,000 after buying an additional 795 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Raytheon during the 2nd quarter valued at approximately $3,076,000. First Trust Advisors LP increased its position in Raytheon by 45.3% during the 2nd quarter. First Trust Advisors LP now owns 266,918 shares of the aerospace company’s stock valued at $51,563,000 after buying an additional 83,198 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Raytheon by 10.3% during the 2nd quarter. Victory Capital Management Inc. now owns 26,207 shares of the aerospace company’s stock valued at $5,063,000 after buying an additional 2,455 shares in the last quarter. 73.25% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts recently weighed in on RTN shares. Bank of America reduced their price objective on Raytheon from $245.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, October 26th. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $233.00 price objective for the company in a research report on Wednesday, October 3rd. Wells Fargo & Co reduced their price objective on Raytheon from $225.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, October 26th. UBS Group started coverage on Raytheon in a research report on Wednesday, August 15th. They set a “buy” rating and a $250.00 price objective for the company. Finally, Morgan Stanley reduced their price objective on Raytheon from $228.00 to $221.00 and set an “overweight” rating for the company in a research report on Wednesday, November 14th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Raytheon currently has a consensus rating of “Buy” and a consensus target price of $227.15.

Shares of Raytheon stock traded up $2.50 on Thursday, reaching $168.18. The company’s stock had a trading volume of 3,528,984 shares, compared to its average volume of 1,808,101. The firm has a market cap of $47.15 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 1.18 and a beta of 0.81. Raytheon has a 52 week low of $162.31 and a 52 week high of $229.75. The company has a current ratio of 1.49, a quick ratio of 1.37 and a debt-to-equity ratio of 0.42.

Raytheon (NYSE:RTN) last posted its earnings results on Thursday, October 25th. The aerospace company reported $2.25 EPS for the quarter, topping the Zacks’ consensus estimate of $1.97 by $0.28. The business had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.67 billion. Raytheon had a return on equity of 24.43% and a net margin of 9.33%. During the same quarter last year, the company earned $1.97 EPS. On average, equities research analysts forecast that Raytheon will post 10.1 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Wednesday, January 2nd will be issued a $0.8675 dividend. This represents a $3.47 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Monday, December 31st. Raytheon’s payout ratio is 45.54%.

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About Raytheon

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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