Reliant Investment Management LLC maintained its position in shares of Raytheon Company (NYSE:RTN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,420 shares of the company’s stock at the end of the third quarter. Raytheon Company comprises 2.9% of Reliant Investment Management LLC’s portfolio, making the stock its 8th largest position. Reliant Investment Management LLC’s holdings in Raytheon Company were worth $3,184,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. Covington Capital Management boosted its position in shares of Raytheon Company by 12.4% in the third quarter. Covington Capital Management now owns 2,710 shares of the company’s stock worth $369,000 after buying an additional 300 shares during the last quarter. Peloton Wealth Strategists purchased a new stake in Raytheon Company during the third quarter valued at about $1,028,000. Credit Suisse AG raised its stake in Raytheon Company by 86.5% in the third quarter. Credit Suisse AG now owns 926,558 shares of the company’s stock valued at $126,133,000 after buying an additional 429,617 shares during the period. Cognios Capital LLC raised its stake in Raytheon Company by 15.3% in the third quarter. Cognios Capital LLC now owns 86,312 shares of the company’s stock valued at $11,749,000 after buying an additional 11,476 shares during the period. Finally, Pioneer Investment Management Inc. raised its stake in Raytheon Company by 1.6% in the third quarter. Pioneer Investment Management Inc. now owns 2,701,161 shares of the company’s stock valued at $367,710,000 after buying an additional 42,819 shares during the period. 75.72% of the stock is owned by institutional investors and hedge funds.
Raytheon Company (NYSE:RTN) opened at 150.03 on Monday. The stock has a 50 day moving average of $146.10 and a 200-day moving average of $142.17. Raytheon Company has a 12 month low of $119.38 and a 12 month high of $152.58. The stock has a market cap of $44.14 billion, a P/E ratio of 20.16 and a beta of 0.67.
Raytheon Company (NYSE:RTN) last announced its quarterly earnings data on Thursday, January 26th. The company reported $1.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.86 by $0.02. Raytheon Company had a net margin of 9.19% and a return on equity of 19.77%. The firm earned $6.20 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same period in the prior year, the company posted $1.85 EPS. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, equities analysts forecast that Raytheon Company will post $7.40 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 2nd. Investors of record on Wednesday, January 4th were issued a $0.7325 dividend. This represents a $2.93 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Friday, December 30th. Raytheon Company’s dividend payout ratio is currently 39.38%.
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Several equities research analysts have recently issued reports on the stock. Vetr lowered shares of Raytheon Company from a “strong-buy” rating to a “buy” rating and set a $163.53 target price for the company. in a report on Monday, February 6th. Jefferies Group LLC restated a “buy” rating and issued a $163.00 target price on shares of Raytheon Company in a report on Tuesday, January 31st. Deutsche Bank AG raised their target price on shares of Raytheon Company from $145.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, December 5th. Royal Bank Of Canada assumed coverage on shares of Raytheon Company in a report on Thursday, January 12th. They issued an “outperform” rating and a $180.00 target price for the company. Finally, Zacks Investment Research lowered shares of Raytheon Company from a “buy” rating to a “hold” rating in a report on Friday, January 20th. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $157.03.
In other Raytheon Company news, VP Frank R. Jimenez sold 500 shares of the stock in a transaction dated Thursday, January 26th. The shares were sold at an average price of $142.00, for a total transaction of $71,000.00. Following the completion of the transaction, the vice president now owns 26,158 shares of the company’s stock, valued at $3,714,436. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.21% of the company’s stock.
About Raytheon Company
Raytheon Company (Raytheon), together with its subsidiaries, is a technology company. The Company develops technologically integrated products, services and solutions in various markets, such as sensing; effects; command, control, communications, computers, cyber and intelligence (C5I); mission support, and cybersecurity.
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