Weatherly Asset Management L. P. Raises Holdings in Raytheon Company (RTN)

Weatherly Asset Management L. P. grew its holdings in shares of Raytheon Company (NYSE:RTN) by 58.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,253 shares of the aerospace company’s stock after purchasing an additional 2,306 shares during the period. Weatherly Asset Management L. P.’s holdings in Raytheon were worth $1,167,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. BlackRock Inc. grew its position in shares of Raytheon by 2,166.0% during the first quarter. BlackRock Inc. now owns 19,407,819 shares of the aerospace company’s stock worth $2,959,694,000 after acquiring an additional 18,551,353 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Raytheon by 13,784.9% during the second quarter. Janus Henderson Group PLC now owns 1,494,150 shares of the aerospace company’s stock worth $241,276,000 after acquiring an additional 1,483,389 shares during the last quarter. Vanguard Group Inc. grew its position in Raytheon by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 21,910,520 shares of the aerospace company’s stock valued at $3,341,355,000 after buying an additional 989,986 shares in the last quarter. Alliancebernstein L.P. grew its position in Raytheon by 55.2% in the 2nd quarter. Alliancebernstein L.P. now owns 2,328,691 shares of the aerospace company’s stock valued at $376,037,000 after buying an additional 827,931 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its position in Raytheon by 42.7% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,826,164 shares of the aerospace company’s stock valued at $294,889,000 after buying an additional 546,398 shares in the last quarter. 74.24% of the stock is currently owned by institutional investors.

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Shares of Raytheon Company (NYSE:RTN) opened at $184.81 on Monday. The company has a quick ratio of 1.55, a current ratio of 1.66 and a debt-to-equity ratio of 0.44. The stock has a market cap of $53,426.17, a P/E ratio of 24.45, a PEG ratio of 2.51 and a beta of 0.57. Raytheon Company has a 52-week low of $137.70 and a 52-week high of $190.25.

Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.07. The business had revenue of $6.28 billion during the quarter, compared to analyst estimates of $6.33 billion. Raytheon had a net margin of 8.77% and a return on equity of 20.98%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.79 earnings per share. research analysts anticipate that Raytheon Company will post 7.61 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Thursday, October 12th were given a $0.7975 dividend. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date was Wednesday, October 11th. Raytheon’s dividend payout ratio (DPR) is 42.88%.

In other news, VP Taylor W. Lawrence sold 3,791 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $182.09, for a total value of $690,303.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Frank R. Jimenez sold 650 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $187.27, for a total transaction of $121,725.50. The disclosure for this sale can be found here. Insiders sold 4,941 shares of company stock valued at $902,999 over the last three months. 0.19% of the stock is owned by insiders.

A number of equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $204.00 target price for the company in a research report on Thursday, September 14th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $199.00 target price (up previously from $188.00) on shares of Raytheon in a research report on Monday, October 30th. They noted that the move was a valuation call. Vetr lowered shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 target price for the company. in a research report on Tuesday, August 15th. Wells Fargo & Company decreased their target price on shares of Raytheon from $200.00 to $195.00 and set an “outperform” rating for the company in a research report on Friday, October 27th. Finally, Buckingham Research increased their target price on shares of Raytheon from $199.00 to $204.00 and gave the company a “buy” rating in a research report on Tuesday, October 31st. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $199.24.

About Raytheon

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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