Norinchukin Bank The grew its position in shares of Raytheon (NYSE:RTN) by 8.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,083 shares of the aerospace company’s stock after purchasing an additional 3,989 shares during the quarter. Norinchukin Bank The’s holdings in Raytheon were worth $10,557,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in Raytheon by 30.7% during the 1st quarter. Principal Financial Group Inc. now owns 652,948 shares of the aerospace company’s stock valued at $140,919,000 after purchasing an additional 153,501 shares in the last quarter. Hills Bank & Trust Co. acquired a new stake in Raytheon during the 2nd quarter valued at $419,000. Fox Run Management L.L.C. acquired a new stake in Raytheon during the 2nd quarter valued at $592,000. Westpac Banking Corp grew its holdings in Raytheon by 3.9% during the 2nd quarter. Westpac Banking Corp now owns 20,638 shares of the aerospace company’s stock valued at $3,987,000 after purchasing an additional 780 shares in the last quarter. Finally, Patten & Patten Inc. TN grew its holdings in Raytheon by 1.9% during the 2nd quarter. Patten & Patten Inc. TN now owns 75,328 shares of the aerospace company’s stock valued at $14,552,000 after purchasing an additional 1,430 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.
Shares of RTN stock opened at $178.77 on Thursday. The firm has a market cap of $51.80 billion, a price-to-earnings ratio of 23.46, a P/E/G ratio of 1.36 and a beta of 0.84. The company has a quick ratio of 1.37, a current ratio of 1.49 and a debt-to-equity ratio of 0.42. Raytheon has a 1-year low of $165.00 and a 1-year high of $229.75.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 31st. Stockholders of record on Wednesday, January 2nd will be given a $0.8675 dividend. This represents a $3.47 dividend on an annualized basis and a dividend yield of 1.94%. Raytheon’s payout ratio is currently 45.54%.
In other news, VP Taylor W. Lawrence sold 3,299 shares of the firm’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $199.41, for a total value of $657,853.59. Following the transaction, the vice president now directly owns 44,220 shares in the company, valued at approximately $8,817,910.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.19% of the company’s stock.
Several research analysts have weighed in on the stock. Zacks Investment Research raised shares of 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 assumed coverage on shares of Raytheon in a report on Wednesday, August 15th. They set a “buy” rating and a $250.00 price objective for the company. Stifel Nicolaus decreased their price objective on shares of Raytheon from $235.00 to $230.00 and set a “buy” rating for the company in a report on Friday, July 27th. Bank of America decreased their price objective on shares of Raytheon from $245.00 to $230.00 and set a “buy” rating for the company in a report on Friday, October 26th. Finally, Wells Fargo & Co decreased their price objective on shares of Raytheon from $225.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, October 26th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $230.54.
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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