Alps Advisors Inc. Purchases New Holdings in Raytheon (RTN)

Alps Advisors Inc. purchased a new stake in Raytheon (NYSE:RTN) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,731 shares of the aerospace company’s stock, valued at approximately $1,391,000.

Other large investors have also added to or reduced their stakes in the company. Legacy Capital Partners Inc. raised its holdings in shares of Raytheon by 11.5% in the 3rd 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. Bridgewater Associates LP purchased a new stake in shares of Raytheon in the 2nd quarter valued at about $9,051,000. Rice Partnership LLC raised its holdings in shares of Raytheon by 13.4% in the 2nd 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. FMR LLC raised its holdings in shares of Raytheon by 3.6% during the 2nd quarter. FMR LLC now owns 8,242,330 shares of the aerospace company’s stock valued at $1,592,253,000 after buying an additional 283,720 shares in the last quarter. Finally, Korea Investment CORP raised its holdings in shares of Raytheon by 1.7% during the 2nd quarter. Korea Investment CORP now owns 419,438 shares of the aerospace company’s stock valued at $81,027,000 after buying an additional 7,000 shares in the last quarter. 72.96% of the stock is currently owned by hedge funds and other institutional investors.

RTN opened at $173.14 on Wednesday. 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 1 year low of $165.00 and a 1 year high of $229.75. The company has a market cap of $50.34 billion, a P/E ratio of 22.72, a P/E/G ratio of 1.33 and a beta of 0.68.

Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, October 25th. The aerospace company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.28. Raytheon had a return on equity of 24.43% and a net margin of 9.33%. The business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. During the same period last year, the company earned $1.97 EPS. Research analysts forecast that Raytheon will post 10.11 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 8th. Investors of record on Wednesday, October 10th will be given a dividend of $0.8675 per share. The ex-dividend date of this dividend is Tuesday, October 9th. This represents a $3.47 annualized dividend and a yield of 2.00%. Raytheon’s payout ratio is 45.54%.

In related news, VP Taylor W. Lawrence sold 3,299 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $199.41, for a total transaction of $657,853.59. Following the transaction, the vice president now directly owns 44,220 shares in the company, valued at approximately $8,817,910.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.19% of the stock is owned by company insiders.

RTN has been the topic of a number of research reports. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $224.00 price objective on the stock in a report on Wednesday, July 18th. UBS Group initiated coverage on Raytheon in a report on Wednesday, August 15th. They set a “buy” rating and a $250.00 price objective on the stock. Stifel Nicolaus decreased their price objective on Raytheon from $235.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, July 27th. Morgan Stanley decreased their price objective on Raytheon from $239.00 to $228.00 and set an “overweight” rating on the stock in a report on Thursday, July 12th. Finally, Bank of America decreased their price objective on Raytheon from $245.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, October 26th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $229.14.

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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