Jacobs Levy Equity Management Inc. boosted its position in Raytheon Co. (NYSE:RTN) by 20.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 204,231 shares of the company’s stock after buying an additional 34,250 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.07% of Raytheon worth $27,802,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the company. UMB Bank N A MO increased its stake in shares of Raytheon by 5.2% in the second quarter. UMB Bank N A MO now owns 122,168 shares of the company’s stock worth $16,609,000 after buying an additional 6,064 shares during the period. Cullen Frost Bankers Inc. increased its stake in shares of Raytheon by 19.6% in the second quarter. Cullen Frost Bankers Inc. now owns 128,428 shares of the company’s stock worth $17,460,000 after buying an additional 21,009 shares during the period. Prospera Financial Services Inc increased its stake in shares of Raytheon by 12.6% in the second quarter. Prospera Financial Services Inc now owns 2,380 shares of the company’s stock worth $324,000 after buying an additional 266 shares during the period. Genesee Valley Trust Co. increased its stake in shares of Raytheon by 2.4% in the second quarter. Genesee Valley Trust Co. now owns 2,965 shares of the company’s stock worth $403,000 after buying an additional 70 shares during the period. Finally, HL Financial Services LLC increased its stake in shares of Raytheon by 11.2% in the second quarter. HL Financial Services LLC now owns 6,347 shares of the company’s stock worth $863,000 after buying an additional 641 shares during the period. 75.93% of the stock is owned by institutional investors.
Raytheon Co. (NYSE:RTN) opened at 147.02 on Thursday. Raytheon Co. has a 1-year low of $117.00 and a 1-year high of $152.58. The firm has a 50 day moving average of $145.49 and a 200-day moving average of $141.11. The company has a market capitalization of $43.17 billion, a price-to-earnings ratio of 19.63 and a beta of 0.64.
Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, October 27th. The company reported $1.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.64 by $0.15. The firm earned $6 billion during the quarter, compared to analyst estimates of $6.04 billion. Raytheon had a net margin of 9.26% and a return on equity of 19.98%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.47 EPS. On average, equities research analysts anticipate that Raytheon Co. will post $7.46 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 2nd. Stockholders of record on Wednesday, January 4th will be issued a $0.7325 dividend. The ex-dividend date is Friday, December 30th. This represents a $2.93 dividend on an annualized basis and a dividend yield of 1.99%. Raytheon’s payout ratio is 39.12%.
Several equities analysts recently commented on RTN shares. Deutsche Bank AG increased their price objective on shares of Raytheon from $145.00 to $160.00 and gave the company a “hold” rating in a research note on Monday, December 5th. Wells Fargo & Co. reissued a “buy” rating on shares of Raytheon in a research note on Monday, November 14th. Vetr downgraded shares of Raytheon from a “strong-buy” rating to a “buy” rating and set a $163.03 price objective for the company. in a research note on Wednesday. RBC Capital Markets started coverage on shares of Raytheon in a research note on Thursday, January 12th. They issued an “outperform” rating and a $180.00 price objective for the company. Finally, Royal Bank Of Canada started coverage on shares of Raytheon in a research note on Thursday, January 12th. They issued an “outperform” rating and a $180.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $156.37.
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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