Raytheon Co. (RTN) Shares Bought by Redwood Investments LLC
Redwood Investments LLC increased its stake in Raytheon Co. (NYSE:RTN) by 21.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,174 shares of the company’s stock after buying an additional 6,823 shares during the period. Redwood Investments LLC’s holdings in Raytheon were worth $5,333,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Penobscot Investment Management Company Inc. increased its position in Raytheon by 29.3% in the third quarter. Penobscot Investment Management Company Inc. now owns 10,395 shares of the company’s stock valued at $1,415,000 after buying an additional 2,357 shares during the period. Mycio Wealth Partners LLC increased its position in Raytheon by 214.9% in the third quarter. Mycio Wealth Partners LLC now owns 885 shares of the company’s stock valued at $120,000 after buying an additional 604 shares during the period. Advisors Capital Management LLC increased its position in Raytheon by 3.7% in the third quarter. Advisors Capital Management LLC now owns 62,820 shares of the company’s stock valued at $8,552,000 after buying an additional 2,246 shares during the period. Toronto Dominion Bank increased its position in Raytheon by 6,017.3% in the third quarter. Toronto Dominion Bank now owns 394,564 shares of the company’s stock valued at $53,714,000 after buying an additional 388,114 shares during the period. Finally, Hosking Partners LLP increased its position in Raytheon by 13.3% in the third quarter. Hosking Partners LLP now owns 62,855 shares of the company’s stock valued at $8,556,000 after buying an additional 7,373 shares during the period. Hedge funds and other institutional investors own 75.99% of the company’s stock.
Shares of Raytheon Co. (NYSE:RTN) traded up 0.24% during trading on Monday, reaching $148.90. 1,350,862 shares of the company’s stock traded hands. The company has a market capitalization of $43.72 billion, a price-to-earnings ratio of 19.88 and a beta of 0.62. Raytheon Co. has a 1-year low of $115.73 and a 1-year high of $152.58. The stock has a 50-day moving average of $140.44 and a 200-day moving average of $137.75.
Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, October 27th. The company reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.15. The business earned $6 billion during the quarter, compared to analyst estimates of $6.04 billion. Raytheon had a net margin of 9.26% and a return on equity of 19.98%. The company’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.47 earnings per share. On average, equities analysts predict that Raytheon Co. will post $7.46 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 2nd. Stockholders of record on Wednesday, January 4th will be given a $0.7325 dividend. This represents a $2.93 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Friday, December 30th. Raytheon’s dividend payout ratio is presently 39.12%.
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A number of analysts have commented on the stock. Wells Fargo & Co. reiterated a “buy” rating on shares of Raytheon in a report on Monday, November 14th. Zacks Investment Research upgraded shares of Raytheon from a “sell” rating to a “hold” rating in a report on Tuesday, November 1st. Deutsche Bank AG increased their price objective on shares of Raytheon from $140.00 to $145.00 and gave the company a “hold” rating in a report on Friday, October 28th. Vertical Research assumed coverage on shares of Raytheon in a report on Friday, October 28th. They issued a “buy” rating and a $154.00 price objective for the company. Finally, Robert W. Baird assumed coverage on shares of Raytheon in a report on Thursday, October 6th. They issued an “outperform” rating and a $170.00 price objective for the company. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Raytheon currently has a consensus rating of “Buy” and an average target price of $149.62.
Raytheon Company (Raytheon), together with its subsidiaries, is a technology company. The Company develops technologically integrated products, services and solutions in various markets, such as sensing; effects; command, control, communications, computers, cyber and intelligence (C5I); mission support, and cybersecurity.
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