Riverhead Capital Management LLC Trims Holdings in Raytheon (RTN)

Riverhead Capital Management LLC cut its holdings in shares of Raytheon (NYSE:RTN) by 19.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,471 shares of the aerospace company’s stock after selling 4,050 shares during the quarter. Riverhead Capital Management LLC’s holdings in Raytheon were worth $3,404,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RTN. Charles Schwab Investment Advisory Inc. acquired a new stake in Raytheon during the 2nd quarter worth approximately $230,415,000. Alliancebernstein L.P. lifted its holdings in Raytheon by 33.3% during the 3rd quarter. Alliancebernstein L.P. now owns 4,054,014 shares of the aerospace company’s stock worth $837,803,000 after buying an additional 1,013,436 shares in the last quarter. Standard Life Aberdeen plc lifted its holdings in Raytheon by 64.9% during the 3rd quarter. Standard Life Aberdeen plc now owns 1,950,068 shares of the aerospace company’s stock worth $403,010,000 after buying an additional 767,198 shares in the last quarter. Putnam Investments LLC lifted its holdings in Raytheon by 49.8% during the 2nd quarter. Putnam Investments LLC now owns 2,154,197 shares of the aerospace company’s stock worth $416,148,000 after buying an additional 716,446 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in Raytheon by 2.9% during the 3rd quarter. BlackRock Inc. now owns 22,549,718 shares of the aerospace company’s stock worth $4,660,126,000 after buying an additional 638,922 shares in the last quarter. Institutional investors own 73.25% of the company’s stock.

Shares of NYSE:RTN opened at $165.11 on Friday. 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. The company has a market capitalization of $47.86 billion, a price-to-earnings ratio of 21.67, a PEG ratio of 1.20 and a beta of 0.81.

Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, October 25th. The aerospace company reported $2.25 EPS for the quarter, beating the Zacks’ consensus estimate of $1.97 by $0.28. Raytheon had a net margin of 9.33% and a return on equity of 24.43%. The company had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same period in the prior year, the firm posted $1.97 EPS. On average, research analysts forecast that Raytheon will post 10.1 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Wednesday, January 2nd will be given 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 presently 45.54%.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Raytheon from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. UBS Group assumed coverage on shares of Raytheon in a report on Wednesday, August 15th. They set a “buy” rating and a $250.00 target price 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. Finally, 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. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Raytheon has a consensus rating of “Buy” and a consensus price target of $227.15.

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Raytheon 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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