Heritage Investors Management Corp Buys 2,540 Shares of Raytheon (RTN)

Heritage Investors Management Corp increased its stake in shares of Raytheon (NYSE:RTN) by 15.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,389 shares of the aerospace company’s stock after purchasing an additional 2,540 shares during the quarter. Heritage Investors Management Corp’s holdings in Raytheon were worth $4,007,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Squar Milner Financial Services LLC purchased a new position in Raytheon in the second quarter worth $100,000. WESPAC Advisors SoCal LLC purchased a new position in Raytheon in the third quarter worth $103,000. Fort L.P. purchased a new position in Raytheon in the second quarter worth $117,000. Mainstay Capital Management LLC ADV raised its position in Raytheon by 19,218.3% in the second quarter. Mainstay Capital Management LLC ADV now owns 25,307 shares of the aerospace company’s stock worth $131,000 after acquiring an additional 25,176 shares in the last quarter. Finally, Salem Investment Counselors Inc. raised its position in Raytheon by 140.8% in the second quarter. Salem Investment Counselors Inc. now owns 684 shares of the aerospace company’s stock worth $132,000 after acquiring an additional 400 shares in the last quarter. 73.24% of the stock is owned by hedge funds and other institutional investors.

In other news, VP Taylor W. Lawrence sold 3,299 shares of the firm’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $199.41, for a total value 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 SEC, which is available at this link. Company insiders own 0.19% of the company’s stock.

Several research firms have issued reports on RTN. Wells Fargo & Co cut their price objective on Raytheon from $225.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, October 26th. Bank of America cut their price objective on 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 Raytheon from a “hold” rating to a “buy” rating and set a $221.00 price objective for the company in a research report on Thursday, October 11th. UBS Group began coverage on Raytheon in a research report on Wednesday, August 15th. They issued a “buy” rating and a $250.00 price objective for the company. Finally, Stifel Nicolaus cut their price objective on 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 stock. Raytheon presently has a consensus rating of “Buy” and an average price target of $231.08.

Shares of RTN stock opened at $186.66 on Friday. Raytheon has a fifty-two week low of $165.00 and a fifty-two week high of $229.75. The firm has a market capitalization of $52.59 billion, a PE ratio of 24.50, a PEG ratio of 1.38 and a beta of 0.84. 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 (NYSE:RTN) last announced its quarterly earnings results on Thursday, October 25th. The aerospace company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter last year, the business posted $1.97 earnings per share. As a group, sell-side analysts anticipate that Raytheon will post 10.1 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 8th. Stockholders of record on Wednesday, October 10th were given a $0.8675 dividend. This represents a $3.47 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend was Tuesday, October 9th. Raytheon’s dividend payout ratio is currently 45.54%.

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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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