Raytheon (RTN) Stake Lessened by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group lessened its stake in Raytheon (NYSE:RTN) by 10.8% during the third quarter, HoldingsChannel reports. The firm owned 4,470 shares of the aerospace company’s stock after selling 544 shares during the period. Rehmann Capital Advisory Group’s holdings in Raytheon were worth $924,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of RTN. Addison Capital Co grew its position in shares of Raytheon by 16.1% during the 3rd quarter. Addison Capital Co now owns 1,799 shares of the aerospace company’s stock valued at $372,000 after buying an additional 250 shares during the last quarter. ST Germain D J Co. Inc. grew its position in shares of Raytheon by 16.5% during the 2nd quarter. ST Germain D J Co. Inc. now owns 1,941 shares of the aerospace company’s stock valued at $375,000 after buying an additional 275 shares during the last quarter. Patten Group Inc. grew its position in shares of Raytheon by 2.3% during the 3rd quarter. Patten Group Inc. now owns 12,492 shares of the aerospace company’s stock valued at $2,582,000 after buying an additional 282 shares during the last quarter. Argus Investors Counsel Inc. grew its position in shares of Raytheon by 18.3% during the 3rd quarter. Argus Investors Counsel Inc. now owns 1,827 shares of the aerospace company’s stock valued at $378,000 after buying an additional 283 shares during the last quarter. Finally, Commerce Bank grew its position in shares of Raytheon by 1.1% during the 3rd quarter. Commerce Bank now owns 26,590 shares of the aerospace company’s stock valued at $5,495,000 after buying an additional 293 shares during the last quarter. Institutional investors and hedge funds own 73.25% of the company’s stock.

A number of brokerages recently weighed in on RTN. Zacks Investment Research raised shares of 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. UBS Group began 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. Morgan Stanley decreased their target price on shares of Raytheon from $228.00 to $221.00 and set an “overweight” rating for the company in a research report on Wednesday, November 14th. Wells Fargo & Co decreased their target price on shares of Raytheon from $225.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, October 26th. Finally, Bank of America decreased their target price on shares of Raytheon from $245.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, October 26th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $227.15.

Shares of NYSE:RTN opened at $165.11 on Friday. The company has a market capitalization of $47.86 billion, a PE ratio of 21.67, a P/E/G ratio of 1.20 and a beta of 0.81. Raytheon has a twelve month low of $162.31 and a twelve month high of $229.75. The company has a quick ratio of 1.37, a current ratio of 1.49 and a debt-to-equity ratio of 0.42.

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

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 31st. Stockholders of record on Wednesday, January 2nd will be paid a $0.8675 dividend. This represents a $3.47 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Monday, December 31st. Raytheon’s dividend payout ratio is currently 45.54%.

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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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