Rothschild & Co. Asset Management US Inc. boosted its holdings in shares of Raytheon (NYSE:RTN) by 44.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 332,566 shares of the aerospace company’s stock after acquiring an additional 102,327 shares during the quarter. Raytheon accounts for 0.7% of Rothschild & Co. Asset Management US Inc.’s portfolio, making the stock its 17th biggest holding. Rothschild & Co. Asset Management US Inc. owned about 0.12% of Raytheon worth $68,728,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Cornerstone Wealth Management LLC increased its stake in shares of Raytheon by 4,885.3% during the second quarter. Cornerstone Wealth Management LLC now owns 47,859 shares of the aerospace company’s stock valued at $246,000 after acquiring an additional 46,899 shares during the period. Squar Milner Financial Services LLC bought a new stake in Raytheon during the second quarter worth approximately $100,000. RFG Advisory Group LLC boosted its holdings in Raytheon by 75.1% during the second quarter. RFG Advisory Group LLC now owns 1,732 shares of the aerospace company’s stock worth $335,000 after buying an additional 743 shares in the last quarter. Advisor Partners LLC boosted its holdings in Raytheon by 4.9% during the second quarter. Advisor Partners LLC now owns 10,858 shares of the aerospace company’s stock worth $2,098,000 after buying an additional 504 shares in the last quarter. Finally, BTIM Corp. boosted its holdings in Raytheon by 15.4% during the second quarter. BTIM Corp. now owns 12,735 shares of the aerospace company’s stock worth $2,460,000 after buying an additional 1,703 shares in the last quarter. 73.49% of the stock is owned by institutional investors and hedge funds.
RTN traded up $1.34 during trading on Friday, hitting $173.62. The stock had a trading volume of 17,222 shares, compared to its average volume of 2,422,228. The company has a market capitalization of $49.03 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 1.23 and a beta of 0.84. Raytheon has a 12 month low of $165.00 and a 12 month high of $229.75. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.49 and a quick ratio of 1.37.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Wednesday, January 2nd will be given a $0.8675 dividend. The ex-dividend date of this dividend is Monday, December 31st. This represents a $3.47 annualized dividend and a yield of 2.00%. Raytheon’s dividend payout ratio is 45.54%.
A number of research analysts have recently weighed in on RTN shares. Morgan Stanley cut their price target on shares of Raytheon from $228.00 to $221.00 and set an “overweight” rating on the stock in a report on Wednesday, November 14th. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $221.00 price target on the stock in a report on Thursday, August 2nd. Stifel Nicolaus cut their price target on shares of Raytheon from $235.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, July 27th. UBS Group began coverage on shares of Raytheon in a report on Wednesday, August 15th. They set a “buy” rating and a $250.00 price target on the stock. Finally, Wells Fargo & Co dropped their target price on shares of Raytheon from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday, October 26th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Raytheon currently has an average rating of “Buy” and a consensus price target of $230.54.
In other Raytheon news, VP Taylor W. Lawrence sold 3,299 shares of the firm’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $199.41, for a total value of $657,853.59. Following the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.19% of the company’s stock.
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.
Read More: Price to Earnings Ratio (PE)
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