Perpetual Ltd Takes $269,000 Position in Raytheon (RTN)

Perpetual Ltd acquired a new position in shares of Raytheon (NYSE:RTN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,300 shares of the aerospace company’s stock, valued at approximately $269,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in shares of Raytheon by 1.3% in the second quarter. BlackRock Inc. now owns 21,910,796 shares of the aerospace company’s stock valued at $4,232,729,000 after purchasing an additional 279,001 shares during the last quarter. FMR LLC raised its holdings in shares of Raytheon by 3.6% in the second quarter. FMR LLC now owns 8,242,330 shares of the aerospace company’s stock valued at $1,592,253,000 after purchasing an additional 283,720 shares during the last quarter. Macquarie Group Ltd. raised its holdings in shares of Raytheon by 2.8% in the second quarter. Macquarie Group Ltd. now owns 3,459,211 shares of the aerospace company’s stock valued at $668,250,000 after purchasing an additional 94,161 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Raytheon by 1.2% in the second quarter. Northern Trust Corp now owns 3,279,555 shares of the aerospace company’s stock valued at $633,543,000 after purchasing an additional 39,666 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of Raytheon by 16.4% in the second quarter. Morgan Stanley now owns 3,268,371 shares of the aerospace company’s stock valued at $631,383,000 after purchasing an additional 461,461 shares during the last quarter. Hedge funds and other institutional investors own 72.96% of the company’s stock.

RTN opened at $175.04 on Thursday. The stock has a market cap of $49.27 billion, a P/E ratio of 22.97, a P/E/G ratio of 1.29 and a beta of 0.68. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.49 and a quick ratio of 1.37. Raytheon has a fifty-two week low of $165.00 and a fifty-two week high of $229.75.

Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, October 25th. The aerospace company reported $2.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 quarter in the prior year, the business earned $1.97 earnings per share. Analysts predict that Raytheon will post 10.1 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 8th. Shareholders 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 dividend on an annualized basis and a yield of 1.98%. Raytheon’s dividend payout ratio is presently 45.54%.

Several brokerages have recently commented on RTN. Wells Fargo & Co lowered their target price on shares of Raytheon from $225.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, October 26th. Bank of America reduced their price target 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. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $221.00 price target for the company in a research report on Thursday, August 2nd. Morgan Stanley reduced their price target on shares of Raytheon from $239.00 to $228.00 and set an “overweight” rating for the company in a research report on Thursday, July 12th. Finally, Stifel Nicolaus reduced their price target on shares of Raytheon from $235.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, July 27th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Raytheon presently has an average rating of “Buy” and a consensus price target of $231.08.

In other Raytheon news, VP Taylor W. Lawrence sold 3,299 shares of the stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $199.41, for a total transaction of $657,853.59. Following the completion of the transaction, the vice president now owns 44,220 shares in the company, valued at $8,817,910.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is owned by company insiders.

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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