Taylor Wealth Management Partners Reduces Stake in Raytheon (RTN)
Taylor Wealth Management Partners trimmed its stake in shares of Raytheon (NYSE:RTN) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,885 shares of the aerospace company’s stock after selling 135 shares during the quarter. Raytheon comprises 2.1% of Taylor Wealth Management Partners’ portfolio, making the stock its 16th largest position. Taylor Wealth Management Partners’ holdings in Raytheon were worth $3,663,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in RTN. Vanguard Group Inc increased its position in Raytheon by 0.9% in the 3rd quarter. Vanguard Group Inc now owns 23,074,017 shares of the aerospace company’s stock valued at $4,768,477,000 after acquiring an additional 212,408 shares during the period. BlackRock Inc. increased its position in Raytheon by 2.9% in the 3rd quarter. BlackRock Inc. now owns 22,549,718 shares of the aerospace company’s stock valued at $4,660,126,000 after acquiring an additional 638,922 shares during the period. FMR LLC increased its position in Raytheon by 3.6% in the 2nd quarter. FMR LLC now owns 8,242,330 shares of the aerospace company’s stock valued at $1,592,253,000 after acquiring an additional 283,720 shares during the period. Alliancebernstein L.P. increased its position in Raytheon by 33.3% in the 3rd quarter. Alliancebernstein L.P. now owns 4,054,014 shares of the aerospace company’s stock valued at $837,803,000 after acquiring an additional 1,013,436 shares during the period. Finally, Macquarie Group Ltd. increased its position in shares of Raytheon by 3.3% during the 3rd quarter. Macquarie Group Ltd. now owns 3,572,420 shares of the aerospace company’s stock valued at $738,275,000 after purchasing an additional 113,209 shares during the period. Institutional investors and hedge funds own 73.24% of the company’s stock.
Several brokerages have recently issued reports on RTN. Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $221.00 price target on the stock in a research report on Thursday, October 11th. Susquehanna Bancshares began coverage on Raytheon in a research report on Thursday. They set a “positive” rating and a $187.00 price target on the stock. Morgan Stanley lowered their price target on Raytheon from $228.00 to $221.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 14th. Wells Fargo & Co lowered their price target on Raytheon from $225.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, October 26th. Finally, Bank of America lowered their price target on Raytheon from $245.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, October 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $225.38.
Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, October 25th. The aerospace company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.28. The business had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.67 billion. Raytheon had a return on equity of 24.43% and a net margin of 9.33%. During the same period last year, the company posted $1.97 EPS. On average, equities research analysts anticipate that Raytheon will post 10.1 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 31st. Stockholders of record on Wednesday, January 2nd will be paid a dividend of $0.8675 per share. This represents a $3.47 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Monday, December 31st. Raytheon’s dividend payout ratio is presently 45.54%.
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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.
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