Edgestream Partners L.P. boosted its position in shares of Raytheon Company (NYSE:RTN) by 59.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,587 shares of the aerospace company’s stock after acquiring an additional 6,167 shares during the period. Raytheon accounts for 1.6% of Edgestream Partners L.P.’s investment portfolio, making the stock its 11th biggest holding. Edgestream Partners L.P.’s holdings in Raytheon were worth $3,095,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Raytheon by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 22,278,418 shares of the aerospace company’s stock worth $3,597,519,000 after acquiring an additional 367,898 shares during the last quarter. BlackRock Inc. lifted its position in Raytheon by 2.7% during the 2nd quarter. BlackRock Inc. now owns 19,934,958 shares of the aerospace company’s stock worth $3,219,097,000 after acquiring an additional 527,139 shares during the last quarter. State Street Corp lifted its position in Raytheon by 2.6% during the 1st quarter. State Street Corp now owns 12,585,731 shares of the aerospace company’s stock worth $1,919,348,000 after acquiring an additional 313,435 shares during the last quarter. Morgan Stanley lifted its position in Raytheon by 7.2% during the 1st quarter. Morgan Stanley now owns 4,491,454 shares of the aerospace company’s stock worth $684,945,000 after acquiring an additional 302,274 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its position in Raytheon by 0.7% during the 1st quarter. Clearbridge Investments LLC now owns 3,527,842 shares of the aerospace company’s stock worth $537,996,000 after acquiring an additional 23,172 shares during the last quarter. 74.24% of the stock is owned by hedge funds and other institutional investors.
In other Raytheon news, VP Frank R. Jimenez sold 650 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $187.27, for a total transaction of $121,725.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Frank R. Jimenez sold 500 shares of the company’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $181.94, for a total transaction of $90,970.00. Following the sale, the vice president now directly owns 29,292 shares in the company, valued at $5,329,386.48. The disclosure for this sale can be found here. Insiders have sold 4,941 shares of company stock worth $902,999 over the last ninety days. Insiders own 0.19% of the company’s stock.
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RTN has been the subject of a number of research analyst reports. Robert W. Baird reaffirmed an “outperform” rating and set a $212.00 price objective (up previously from $170.00) on shares of Raytheon in a research report on Thursday, August 10th. Vetr lowered shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price objective for the company. in a research report on Wednesday, August 30th. Zacks Investment Research lowered shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. BidaskClub lowered shares of Raytheon from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Buckingham Research upped their price objective on shares of Raytheon from $190.00 to $199.00 and gave the company a “buy” rating in a research report on Friday, August 11th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Raytheon presently has a consensus rating of “Buy” and an average price target of $199.24.
Shares of Raytheon Company (RTN) opened at $184.46 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.55 and a current ratio of 1.66. The firm has a market cap of $53,426.17, a PE ratio of 24.45, a price-to-earnings-growth ratio of 2.51 and a beta of 0.57. Raytheon Company has a 52 week low of $137.70 and a 52 week high of $190.25.
Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, October 26th. The aerospace company reported $1.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.07. The firm had revenue of $6.28 billion for the quarter, compared to analysts’ expectations of $6.33 billion. Raytheon had a net margin of 8.77% and a return on equity of 20.98%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.79 earnings per share. sell-side analysts predict that Raytheon Company will post 7.61 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Thursday, October 12th were paid a dividend of $0.7975 per share. The ex-dividend date of this dividend was Wednesday, October 11th. This represents a $3.19 annualized dividend and a yield of 1.73%. Raytheon’s dividend payout ratio is 42.88%.
Raytheon Company is a technology company, which specializes in defense and other government markets. The Company develops integrated products, services and solutions in various markets, including sensing; effects; command, control, communications, computers, cyber and intelligence; mission support, and cybersecurity.
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