Alliancebernstein L.P. Has $376.04 Million Stake in Raytheon Company (RTN)

Alliancebernstein L.P. increased its position in shares of Raytheon Company (NYSE:RTN) by 55.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,328,691 shares of the aerospace company’s stock after buying an additional 827,931 shares during the quarter. Alliancebernstein L.P. owned about 0.80% of Raytheon worth $376,037,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. St. Johns Investment Management Company LLC purchased a new stake in shares of Raytheon during the 2nd quarter valued at approximately $113,000. Jacobi Capital Management LLC raised its position in shares of Raytheon by 271.1% during the 1st quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock valued at $114,000 after buying an additional 553 shares during the period. Tarbox Family Office Inc. raised its position in shares of Raytheon by 1,666.7% during the 2nd quarter. Tarbox Family Office Inc. now owns 795 shares of the aerospace company’s stock valued at $128,000 after buying an additional 750 shares during the period. Shine Investment Advisory Services Inc. purchased a new stake in shares of Raytheon during the 2nd quarter valued at approximately $139,000. Finally, CWM LLC raised its position in shares of Raytheon by 7.4% during the 2nd quarter. CWM LLC now owns 916 shares of the aerospace company’s stock valued at $148,000 after buying an additional 63 shares during the period. 73.74% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Raytheon Company (NYSE:RTN) opened at 188.00 on Tuesday. The stock has a market cap of $54.57 billion, a price-to-earnings ratio of 25.97 and a beta of 0.59. Raytheon Company has a 12 month low of $132.89 and a 12 month high of $188.62. The firm has a 50-day moving average price of $182.94 and a 200-day moving average price of $167.55.

Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.15. The company had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.24 billion. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. Raytheon’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.38 earnings per share. Equities analysts expect that Raytheon Company will post $7.59 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Thursday, October 12th will be paid a dividend of $0.7975 per share. This represents a $3.19 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Wednesday, October 11th. Raytheon’s dividend payout ratio is currently 43.94%.

Several analysts have recently commented on the stock. Royal Bank Of Canada reaffirmed a “buy” rating and set a $209.00 price target on shares of Raytheon in a research report on Tuesday. Citigroup Inc. reaffirmed a “buy” rating and set a $215.00 price target (up previously from $192.00) on shares of Raytheon in a research report on Monday. ValuEngine lowered shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $190.00 price target on shares of Raytheon in a research report on Friday, September 29th. Finally, Deutsche Bank AG raised shares of Raytheon from a “hold” rating to a “buy” rating and lifted their price target for the company from $180.00 to $210.00 in a research report on Friday, September 29th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Raytheon has a consensus rating of “Buy” and an average price target of $193.19.

In other news, VP Frank R. Jimenez sold 650 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $187.27, for a total value of $121,725.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Taylor W. Lawrence sold 3,791 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $182.09, for a total transaction of $690,303.19. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,770 shares of company stock worth $1,052,376. 0.19% of the stock is currently owned by insiders.

TRADEMARK VIOLATION NOTICE: “Alliancebernstein L.P. Has $376.04 Million Stake in Raytheon Company (RTN)” was originally reported by The Ledger Gazette an

Other hedge funds have also recently added to or reduced their stakes in the company. St. Johns Investment Management Company LLC purchased a new stake in shares of Raytheon during the 2nd quarter valued at approximately $113,000. Jacobi Capital Management LLC raised its position in shares of Raytheon by 271.1% during the 1st quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock valued at $114,000 after buying an additional 553 shares during the period. Tarbox Family Office Inc. raised its position in shares of Raytheon by 1,666.7% during the 2nd quarter. Tarbox Family Office Inc. now owns 795 shares of the aerospace company’s stock valued at $128,000 after buying an additional 750 shares during the period. Shine Investment Advisory Services Inc. purchased a new stake in shares of Raytheon during the 2nd quarter valued at approximately $139,000. Finally, CWM LLC raised its position in shares of Raytheon by 7.4% during the 2nd quarter. CWM LLC now owns 916 shares of the aerospace company’s stock valued at $148,000 after buying an additional 63 shares during the period. 73.74% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Raytheon Company (NYSE:RTN) opened at 188.00 on Tuesday. The stock has a market cap of $54.57 billion, a price-to-earnings ratio of 25.97 and a beta of 0.59. Raytheon Company has a 12 month low of $132.89 and a 12 month high of $188.62. The firm has a 50-day moving average price of $182.94 and a 200-day moving average price of $167.55.

Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, July 27th. The aerospace company reported $1.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.15. The company had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.24 billion. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. Raytheon’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.38 earnings per share. Equities analysts expect that Raytheon Company will post $7.59 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Thursday, October 12th will be paid a dividend of $0.7975 per share. This represents a $3.19 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Wednesday, October 11th. Raytheon’s dividend payout ratio is currently 43.94%.

Several analysts have recently commented on the stock. Royal Bank Of Canada reaffirmed a “buy” rating and set a $209.00 price target on shares of Raytheon in a research report on Tuesday. Citigroup Inc. reaffirmed a “buy” rating and set a $215.00 price target (up previously from $192.00) on shares of Raytheon in a research report on Monday. ValuEngine lowered shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $190.00 price target on shares of Raytheon in a research report on Friday, September 29th. Finally, Deutsche Bank AG raised shares of Raytheon from a “hold” rating to a “buy” rating and lifted their price target for the company from $180.00 to $210.00 in a research report on Friday, September 29th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Raytheon has a consensus rating of “Buy” and an average price target of $193.19.

In other news, VP Frank R. Jimenez sold 650 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $187.27, for a total value of $121,725.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Taylor W. Lawrence sold 3,791 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $182.09, for a total transaction of $690,303.19. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,770 shares of company stock worth $1,052,376. 0.19% of the stock is currently owned by insiders.

TRADEMARK VIOLATION NOTICE: “Alliancebernstein L.P. Has $376.04 Million Stake in Raytheon Company (RTN)” was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this piece can be viewed at https://ledgergazette.com/2017/10/10/alliancebernstein-l-p-has-376-04-million-stake-in-raytheon-company-rtn.html.

Raytheon Profile

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.

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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