Bailard Inc. boosted its holdings in Raytheon (NYSE:RTN) by 18.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,040 shares of the aerospace company’s stock after acquiring an additional 1,419 shares during the period. Bailard Inc.’s holdings in Raytheon were worth $1,386,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of RTN. Capital Investment Advisory Services LLC bought a new position in Raytheon in the fourth quarter worth about $39,000. Ruggie Capital Group bought a new position in Raytheon in the fourth quarter worth about $42,000. Hudock Capital Group LLC lifted its holdings in Raytheon by 27.8% in the fourth quarter. Hudock Capital Group LLC now owns 534 shares of the aerospace company’s stock worth $81,000 after acquiring an additional 116 shares during the last quarter. WESPAC Advisors SoCal LLC bought a new position in Raytheon in the third quarter worth about $103,000. Finally, Moody National Bank Trust Division lifted its holdings in Raytheon by 47.0% in the fourth quarter. Moody National Bank Trust Division now owns 676 shares of the aerospace company’s stock worth $104,000 after acquiring an additional 216 shares during the last quarter. 77.14% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on RTN shares. Argus reissued a “buy” rating and issued a $200.00 target price on shares of Raytheon in a report on Friday, February 1st. Citigroup cut their target price on shares of Raytheon from $230.00 to $208.00 and set a “buy” rating on the stock in a report on Monday, January 14th. Bank of America dropped their price target on shares of Raytheon from $245.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, October 26th. Barclays cut their price target on Raytheon from $239.00 to $195.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 4th. Finally, ValuEngine raised Raytheon from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $217.31.
Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, January 31st. The aerospace company reported $2.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.89 by $0.04. The company had revenue of $7.36 billion for the quarter, compared to analysts’ expectations of $7.50 billion. Raytheon had a return on equity of 25.81% and a net margin of 10.75%. During the same quarter in the previous year, the company posted $2.03 earnings per share. As a group, analysts anticipate that Raytheon will post 11.59 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, January 31st. Stockholders of record on Wednesday, January 2nd were issued a dividend of $0.8675 per share. The ex-dividend date of this dividend was Monday, December 31st. This represents a $3.47 dividend on an annualized basis and a dividend yield of 1.95%. Raytheon’s dividend payout ratio (DPR) is presently 32.70%.
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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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