Becker Capital Management Inc. Lowers Stake in Raytheon (RTN)

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Becker Capital Management Inc. cut its holdings in Raytheon (NYSE:RTN) by 1.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 210,400 shares of the aerospace company’s stock after selling 2,579 shares during the quarter. Becker Capital Management Inc. owned approximately 0.07% of Raytheon worth $43,481,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Advisory Inc. purchased a new position in shares of Raytheon during the second quarter valued at approximately $230,415,000. Wells Fargo & Company MN lifted its stake in shares of Raytheon by 45.2% during the second quarter. Wells Fargo & Company MN now owns 2,698,919 shares of the aerospace company’s stock valued at $521,378,000 after buying an additional 840,321 shares during the period. Putnam Investments LLC lifted its stake in shares of Raytheon by 49.8% during the second quarter. Putnam Investments LLC now owns 2,154,197 shares of the aerospace company’s stock valued at $416,148,000 after buying an additional 716,446 shares during the period. Morgan Stanley lifted its stake in shares of Raytheon by 16.4% during the second quarter. Morgan Stanley now owns 3,268,371 shares of the aerospace company’s stock valued at $631,383,000 after buying an additional 461,461 shares during the period. Finally, American Century Companies Inc. purchased a new position in shares of Raytheon during the second quarter valued at approximately $85,666,000. Institutional investors and hedge funds own 73.24% of the company’s stock.

In other Raytheon news, VP Taylor W. Lawrence sold 3,299 shares of the stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $199.41, for a total transaction of $657,853.59. Following the transaction, the vice president now owns 44,220 shares of the company’s stock, valued at $8,817,910.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.19% of the company’s stock.

Several equities analysts recently issued reports on RTN shares. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $224.00 price objective on the stock in a research note on Wednesday, July 18th. UBS Group started coverage on shares of Raytheon in a research note on Wednesday, August 15th. They set a “buy” rating and a $250.00 price objective on the stock. Stifel Nicolaus reduced their price objective on shares of Raytheon from $235.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, July 27th. Bank of America reduced their price objective on shares of Raytheon from $245.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, October 26th. Finally, Morgan Stanley reduced their price objective on shares of Raytheon from $239.00 to $228.00 and set an “overweight” rating on the stock in a research note on Thursday, July 12th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $231.08.

NYSE:RTN opened at $184.80 on Wednesday. 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 has a market cap of $51.66 billion, a price-to-earnings ratio of 24.25, a P/E/G ratio of 1.36 and a beta of 0.84. Raytheon has a fifty-two week low of $165.00 and a fifty-two week high of $229.75.

Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, October 25th. The aerospace company reported $2.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.97 by $0.28. The company had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.67 billion. Raytheon had a net margin of 9.33% and a return on equity of 24.43%. During the same quarter last year, the firm posted $1.97 earnings per share. On average, equities analysts predict that Raytheon will post 10.1 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 8th. Shareholders of record on Wednesday, October 10th will be paid a dividend of $0.8675 per share. This represents a $3.47 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Tuesday, October 9th. Raytheon’s dividend payout ratio is currently 45.54%.

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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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