Great West Life Assurance Co. Can increased its stake in shares of Raytheon Company (NYSE:RTN) by 3.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 266,878 shares of the company’s stock after buying an additional 8,318 shares during the period. Great West Life Assurance Co. Can owned approximately 0.09% of Raytheon Company worth $36,313,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. CWM LLC raised its stake in Raytheon Company by 14.0% in the third quarter. CWM LLC now owns 814 shares of the company’s stock valued at $111,000 after buying an additional 100 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Raytheon Company by 5.6% in the second quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock valued at $131,000 after buying an additional 54 shares in the last quarter. Pinkerton Retirement Specialists LLC acquired a new stake in Raytheon Company during the second quarter valued at about $135,000. Reilly Financial Advisors LLC raised its stake in Raytheon Company by 22.1% in the third quarter. Reilly Financial Advisors LLC now owns 1,105 shares of the company’s stock valued at $150,000 after buying an additional 200 shares in the last quarter. Finally, Orinda Asset Management LLC acquired a new stake in Raytheon Company during the third quarter valued at about $160,000. 75.80% of the stock is owned by hedge funds and other institutional investors.
Shares of Raytheon Company (NYSE:RTN) opened at 148.22 on Friday. The company’s 50 day moving average price is $145.82 and its 200 day moving average price is $140.43. The firm has a market cap of $43.52 billion, a P/E ratio of 19.79 and a beta of 0.64. Raytheon Company has a 12-month low of $115.73 and a 12-month high of $152.58.
Raytheon Company (NYSE:RTN) last released its quarterly earnings results on Thursday, October 27th. The company reported $1.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.64 by $0.15. Raytheon Company had a net margin of 9.26% and a return on equity of 19.98%. The company earned $6 billion during the quarter, compared to the consensus estimate of $6.04 billion. During the same period in the prior year, the firm earned $1.47 earnings per share. Raytheon Company’s revenue was up 4.3% on a year-over-year basis. Equities research analysts forecast that Raytheon Company will post $7.46 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 2nd. Investors of record on Wednesday, January 4th will be paid a $0.7325 dividend. This represents a $2.93 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Friday, December 30th. Raytheon Company’s payout ratio is currently 39.12%.
RTN has been the topic of several research analyst reports. Vetr lowered Raytheon Company from a “strong-buy” rating to a “buy” rating and set a $159.91 price objective on the stock. in a research note on Tuesday. Vertical Research initiated coverage on Raytheon Company in a research note on Friday, October 28th. They issued a “buy” rating and a $154.00 price objective on the stock. Wells Fargo & Company restated a “buy” rating on shares of Raytheon Company in a research note on Monday, November 14th. Zacks Investment Research upgraded Raytheon Company from a “sell” rating to a “hold” rating in a research note on Tuesday, November 1st. Finally, Deutsche Bank AG increased their target price on Raytheon Company from $140.00 to $145.00 and gave the stock a “hold” rating in a research note on Friday, October 28th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Raytheon Company has an average rating of “Buy” and an average target price of $152.38.
Raytheon Company Company Profile
Raytheon Company (Raytheon), together with its subsidiaries, is a technology company. The Company develops technologically integrated products, services and solutions in various markets, such as sensing; effects; command, control, communications, computers, cyber and intelligence (C5I); mission support, and cybersecurity.
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