Mycio Wealth Partners LLC boosted its stake in Raytheon Co. (NYSE:RTN) by 214.9% during the third quarter, Holdings Channel reports. The firm owned 885 shares of the company’s stock after buying an additional 604 shares during the period. Mycio Wealth Partners LLC’s holdings in Raytheon were worth $120,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. Boston Partners raised its stake in Raytheon by 40.7% in the second quarter. Boston Partners now owns 6,598,827 shares of the company’s stock worth $897,111,000 after buying an additional 1,909,316 shares during the last quarter. Winslow Capital Management LLC bought a new stake in Raytheon during the second quarter worth about $241,937,000. Emerald Acquisition Ltd. bought a new stake in Raytheon during the second quarter worth about $131,445,000. FMR LLC raised its stake in Raytheon by 8.5% in the second quarter. FMR LLC now owns 7,148,691 shares of the company’s stock worth $971,865,000 after buying an additional 559,138 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in Raytheon by 6,017.3% in the third quarter. Toronto Dominion Bank now owns 394,564 shares of the company’s stock worth $53,714,000 after buying an additional 388,114 shares during the last quarter. 78.94% of the stock is currently owned by institutional investors and hedge funds.
Raytheon Co. (NYSE:RTN) traded up 0.45% during trading on Friday, reaching $148.55. 672,649 shares of the company’s stock were exchanged. The company’s 50-day moving average is $140.07 and its 200-day moving average is $137.62. Raytheon Co. has a 1-year low of $115.73 and a 1-year high of $152.58. The company has a market capitalization of $43.62 billion, a PE ratio of 19.84 and a beta of 0.62.
Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, October 27th. The company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.15. Raytheon had a net margin of 9.26% and a return on equity of 19.98%. The firm earned $6 billion during the quarter, compared to analyst estimates of $6.04 billion. During the same quarter last year, the business posted $1.47 EPS. The company’s revenue was up 4.3% on a year-over-year basis. Equities research analysts expect that Raytheon Co. will post $7.46 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 2nd. Investors of record on Wednesday, January 4th will be paid a $0.7325 dividend. This represents a $2.93 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Friday, December 30th. Raytheon’s dividend payout ratio is 39.12%.
A number of equities research analysts recently issued reports on the company. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Raytheon in a research note on Monday, November 14th. Zacks Investment Research raised Raytheon from a “sell” rating to a “hold” rating in a research note on Tuesday, November 1st. Deutsche Bank AG upped their target price on Raytheon from $140.00 to $145.00 and gave the company a “hold” rating in a research note on Friday, October 28th. Vertical Research initiated coverage on Raytheon in a research note on Friday, October 28th. They issued a “buy” rating and a $154.00 target price on the stock. Finally, Robert W. Baird initiated coverage on Raytheon in a research note on Thursday, October 6th. They set an “outperform” rating and a $170.00 price target on the stock. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Raytheon presently has an average rating of “Buy” and a consensus price target of $149.62.
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.