Meiji Yasuda Life Insurance Co boosted its holdings in shares of Raytheon (NYSE:RTN) by 8.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,841 shares of the aerospace company’s stock after buying an additional 1,090 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Raytheon were worth $2,860,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in RTN. Charles Schwab Investment Advisory Inc. acquired a new stake in Raytheon during the 2nd quarter worth approximately $230,415,000. Alliancebernstein L.P. lifted its holdings in Raytheon by 33.3% during the 3rd quarter. Alliancebernstein L.P. now owns 4,054,014 shares of the aerospace company’s stock worth $837,803,000 after buying an additional 1,013,436 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Raytheon by 45.2% during the 2nd quarter. Wells Fargo & Company MN now owns 2,698,919 shares of the aerospace company’s stock worth $521,378,000 after buying an additional 840,321 shares in the last quarter. Putnam Investments LLC lifted its holdings in Raytheon by 49.8% during the 2nd quarter. Putnam Investments LLC now owns 2,154,197 shares of the aerospace company’s stock worth $416,148,000 after buying an additional 716,446 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in Raytheon by 2.9% during the 3rd quarter. BlackRock Inc. now owns 22,549,718 shares of the aerospace company’s stock worth $4,660,126,000 after buying an additional 638,922 shares in the last quarter. Institutional investors own 73.49% of the company’s stock.
Shares of RTN opened at $173.58 on Monday. Raytheon has a twelve month low of $165.00 and a twelve month high of $229.75. The firm has a market capitalization of $49.40 billion, a PE ratio of 22.78, a PEG ratio of 1.24 and a beta of 0.84. The company has a current ratio of 1.49, a quick ratio of 1.37 and a debt-to-equity ratio of 0.42.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 31st. Stockholders of record on Wednesday, January 2nd will be issued a $0.8675 dividend. The ex-dividend date is Monday, December 31st. This represents a $3.47 dividend on an annualized basis and a dividend yield of 2.00%. Raytheon’s payout ratio is 45.54%.
A number of research firms have issued reports on RTN. Morgan Stanley reduced their target price 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. Wells Fargo & Co reduced 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. Bank of America reduced their target price on shares of Raytheon from $245.00 to $230.00 and set a “buy” rating on the stock in a 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 target price on the stock in a report on Thursday, October 11th. Finally, UBS Group started coverage on shares of Raytheon in a report on Wednesday, August 15th. They issued a “buy” rating and a $250.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $230.54.
In related news, VP Taylor W. Lawrence sold 3,299 shares of the 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 transaction, the vice president now directly owns 44,220 shares of the company’s stock, valued at approximately $8,817,910.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by company insiders.
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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