Mitsubishi UFJ Trust & Banking Corp Has $68.43 Million Holdings in Raytheon (RTN)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in shares of Raytheon (NYSE:RTN) by 52.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 331,113 shares of the aerospace company’s stock after selling 363,671 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.12% of Raytheon worth $68,428,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Addison Capital Co lifted its position in Raytheon by 16.1% in the third quarter. Addison Capital Co now owns 1,799 shares of the aerospace company’s stock worth $372,000 after purchasing an additional 250 shares during the period. Strategic Advisors LLC lifted its position in Raytheon by 21.8% in the second quarter. Strategic Advisors LLC now owns 1,532 shares of the aerospace company’s stock worth $296,000 after purchasing an additional 274 shares during the period. ST Germain D J Co. Inc. lifted its position in Raytheon by 16.5% in the second quarter. ST Germain D J Co. Inc. now owns 1,941 shares of the aerospace company’s stock worth $375,000 after purchasing an additional 275 shares during the period. Daiwa Securities Group Inc. lifted its position in Raytheon by 2.9% in the second quarter. Daiwa Securities Group Inc. now owns 10,102 shares of the aerospace company’s stock worth $1,952,000 after purchasing an additional 283 shares during the period. Finally, Argus Investors Counsel Inc. lifted its position in Raytheon by 18.3% in the third quarter. Argus Investors Counsel Inc. now owns 1,827 shares of the aerospace company’s stock worth $378,000 after purchasing an additional 283 shares during the period. Institutional investors own 73.49% of the company’s stock.

Shares of NYSE: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 price-to-earnings-growth ratio of 1.24 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 earnings results on Thursday, October 25th. The aerospace company reported $2.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.97 by $0.28. Raytheon had a return on equity of 24.43% and a net margin of 9.33%. The company had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.67 billion. During the same period last year, the company posted $1.97 earnings per share. Equities analysts anticipate 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, January 31st. Stockholders of record on Wednesday, January 2nd will be paid a $0.8675 dividend. The ex-dividend date of this dividend is Monday, December 31st. This represents a $3.47 dividend on an annualized basis and a dividend yield of 2.00%. Raytheon’s dividend payout ratio (DPR) is presently 45.54%.

A number of brokerages have issued reports on RTN. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $233.00 price objective for the company in a report on Wednesday, October 3rd. UBS Group began coverage on Raytheon in a report on Wednesday, August 15th. They set a “buy” rating and a $250.00 price objective for the company. 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 report on Friday, October 26th. 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 report on Friday, October 26th. Finally, Morgan Stanley cut their price objective on Raytheon from $228.00 to $221.00 and set an “overweight” rating for the company in a report on Wednesday, November 14th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $230.54.

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 sale, the vice president now directly owns 44,220 shares in the company, valued at $8,817,910.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.19% of the company’s stock.

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About Raytheon

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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