Kessler Investment Group LLC trimmed its holdings in shares of Raytheon (NYSE:RTN) by 43.2% in the fourth quarter, HoldingsChannel reports. The firm owned 218 shares of the aerospace company’s stock after selling 166 shares during the period. Kessler Investment Group LLC’s holdings in Raytheon were worth $33,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. WESPAC Advisors SoCal LLC acquired a new stake in Raytheon during the 3rd quarter valued at $103,000. Moody National Bank Trust Division increased its holdings in Raytheon by 47.0% during the 4th quarter. Moody National Bank Trust Division now owns 676 shares of the aerospace company’s stock valued at $104,000 after purchasing an additional 216 shares in the last quarter. Banco de Sabadell S.A increased its holdings in Raytheon by 100.0% during the 3rd quarter. Banco de Sabadell S.A now owns 600 shares of the aerospace company’s stock valued at $124,000 after purchasing an additional 300 shares in the last quarter. Mainstay Capital Management LLC ADV increased its holdings in Raytheon by 19,218.3% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 25,307 shares of the aerospace company’s stock valued at $131,000 after purchasing an additional 25,176 shares in the last quarter. Finally, Salem Investment Counselors Inc. increased its holdings in Raytheon by 140.8% during the 2nd quarter. Salem Investment Counselors Inc. now owns 684 shares of the aerospace company’s stock valued at $132,000 after purchasing an additional 400 shares in the last quarter. 73.24% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE RTN traded down $2.34 during midday trading on Friday, hitting $157.24. The stock had a trading volume of 829,633 shares, compared to its average volume of 1,871,518. The stock has a market capitalization of $44.94 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 0.96 and a beta of 0.90. Raytheon has a fifty-two week low of $144.27 and a fifty-two week high of $229.75. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.37 and a current ratio of 1.49.
Raytheon (NYSE:RTN) last released its earnings results on Thursday, October 25th. The aerospace company reported $2.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.28. The company had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. Raytheon had a return on equity of 24.43% and a net margin of 9.33%. During the same period last year, the firm earned $1.97 EPS. Equities research analysts forecast that Raytheon will post 10.1 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 31st. Investors of record on Wednesday, January 2nd will be paid a dividend of $0.8675 per share. The ex-dividend date is Monday, December 31st. This represents a $3.47 dividend on an annualized basis and a dividend yield of 2.21%. Raytheon’s dividend payout ratio (DPR) is presently 45.54%.
A number of research firms recently weighed in on RTN. ValuEngine cut Raytheon from a “hold” rating to a “sell” rating in a report on Thursday. Zacks Investment Research cut Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, December 31st. Susquehanna Bancshares assumed coverage on Raytheon in a research note on Thursday. They issued a “positive” rating and a $187.00 target price for the company. Wells Fargo & Co lowered their target price on Raytheon from $225.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, October 26th. Finally, Morgan Stanley lowered their target price on Raytheon from $228.00 to $221.00 and set an “overweight” rating for the company in a research note on Wednesday, November 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $225.38.
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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