King Luther Capital Management Corp decreased its holdings in Raytheon (NYSE:RTN) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,214 shares of the aerospace company’s stock after selling 281 shares during the quarter. King Luther Capital Management Corp’s holdings in Raytheon were worth $6,037,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Howe & Rusling Inc. raised its holdings in Raytheon by 21.8% in the third quarter. Howe & Rusling Inc. now owns 81,233 shares of the aerospace company’s stock valued at $16,788,000 after acquiring an additional 14,532 shares in the last quarter. Investment Partners LTD. acquired a new stake in Raytheon in the third quarter valued at approximately $207,000. Legacy Capital Partners Inc. raised its holdings in Raytheon by 11.5% in the third quarter. Legacy Capital Partners Inc. now owns 8,369 shares of the aerospace company’s stock valued at $1,729,000 after acquiring an additional 860 shares in the last quarter. Rice Partnership LLC raised its holdings in Raytheon by 13.4% in the second quarter. Rice Partnership LLC now owns 15,749 shares of the aerospace company’s stock valued at $3,042,000 after acquiring an additional 1,857 shares in the last quarter. Finally, Bridgewater Associates LP acquired a new stake in Raytheon in the second quarter valued at approximately $9,051,000. 73.25% of the stock is owned by institutional investors and hedge funds.
RTN stock opened at $165.11 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.37 and a current ratio of 1.49. Raytheon has a twelve month low of $162.31 and a twelve month high of $229.75. The company has a market cap of $47.86 billion, a price-to-earnings ratio of 18.83, a P/E/G ratio of 1.20 and a beta of 0.81.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Wednesday, January 2nd will be issued a dividend of $0.8675 per share. The ex-dividend date is Monday, December 31st. This represents a $3.47 dividend on an annualized basis and a yield of 2.10%. Raytheon’s payout ratio is currently 45.54%.
Several analysts recently weighed in on the stock. Barclays reduced their target price on shares of Raytheon from $239.00 to $195.00 and set an “equal weight” rating on the stock in a report on Tuesday. Morgan Stanley reduced their target price on shares of Raytheon from $228.00 to $221.00 and set an “overweight” rating on the stock in a report on Wednesday, November 14th. Wells Fargo & Co reduced their target price on shares of Raytheon from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday, October 26th. Bank of America reduced their target price on shares of Raytheon from $245.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, October 26th. Finally, Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $221.00 target price on the stock in a report on Thursday, October 11th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $227.15.
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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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