Essex Investment Management Co. LLC cut its stake in Raytheon Company (NYSE:RTN) by 1.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,381 shares of the aerospace company’s stock after selling 1,165 shares during the quarter. Raytheon comprises about 1.6% of Essex Investment Management Co. LLC’s investment portfolio, making the stock its 10th biggest position. Essex Investment Management Co. LLC’s holdings in Raytheon were worth $12,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently added to or reduced their stakes in the business. IFP Advisors Inc raised its position in Raytheon by 4.1% in the third quarter. IFP Advisors Inc now owns 14,305 shares of the aerospace company’s stock valued at $2,669,000 after purchasing an additional 566 shares during the period. Canada Pension Plan Investment Board raised its position in Raytheon by 32.2% in the third quarter. Canada Pension Plan Investment Board now owns 206,500 shares of the aerospace company’s stock valued at $38,529,000 after purchasing an additional 50,300 shares during the period. Boulegeris Investments Inc. raised its position in Raytheon by 32.5% in the third quarter. Boulegeris Investments Inc. now owns 11,550 shares of the aerospace company’s stock valued at $2,155,000 after purchasing an additional 2,835 shares during the period. Weatherly Asset Management L. P. raised its position in Raytheon by 58.4% in the third quarter. Weatherly Asset Management L. P. now owns 6,253 shares of the aerospace company’s stock valued at $1,167,000 after purchasing an additional 2,306 shares during the period. Finally, Bainco International Investors purchased a new stake in shares of Raytheon during the third quarter worth about $4,085,000. 74.24% of the stock is currently owned by institutional investors.
Raytheon Company (NYSE:RTN) opened at $184.46 on Tuesday. The company has a quick ratio of 1.55, a current ratio of 1.66 and a debt-to-equity ratio of 0.44. Raytheon Company has a 52 week low of $137.70 and a 52 week high of $190.25. The company has a market capitalization of $53,426.17, a P/E ratio of 24.45, a price-to-earnings-growth ratio of 2.51 and a beta of 0.57.
Raytheon (NYSE:RTN) last issued its earnings results on Thursday, October 26th. The aerospace company reported $1.97 EPS for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.07. Raytheon had a return on equity of 20.98% and a net margin of 8.77%. The company had revenue of $6.28 billion during the quarter, compared to the consensus estimate of $6.33 billion. During the same period in the previous year, the firm posted $1.79 earnings per share. Raytheon’s quarterly revenue was up 4.5% compared to the same quarter last year. equities research analysts predict that Raytheon Company will post 7.61 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Thursday, October 12th were paid a $0.7975 dividend. The ex-dividend date was Wednesday, October 11th. This represents a $3.19 dividend on an annualized basis and a yield of 1.73%. Raytheon’s payout ratio is currently 42.88%.
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In other news, VP Frank R. Jimenez sold 650 shares of Raytheon stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $187.27, for a total transaction of $121,725.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Frank R. Jimenez sold 500 shares of Raytheon stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $181.94, for a total value of $90,970.00. Following the sale, the vice president now directly owns 29,292 shares in the company, valued at approximately $5,329,386.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,941 shares of company stock valued at $902,999. 0.19% of the stock is currently owned by insiders.
A number of analysts have recently issued reports on RTN shares. Buckingham Research lifted their target price on Raytheon from $199.00 to $204.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Robert W. Baird reaffirmed a “buy” rating and set a $212.00 target price on shares of Raytheon in a research report on Tuesday, October 24th. Cowen and Company reaffirmed a “buy” rating and set a $203.00 target price on shares of Raytheon in a research report on Thursday, October 26th. BidaskClub raised Raytheon from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 12th. Finally, Wells Fargo & Company dropped their target price on Raytheon from $200.00 to $195.00 and set an “outperform” rating on the stock in a research report on Friday, October 27th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $199.24.
Raytheon Company is a technology company, which specializes in defense and other government markets. The Company develops integrated products, services and solutions in various markets, including sensing; effects; command, control, communications, computers, cyber and intelligence; mission support, and cybersecurity.
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