Trading Report: Today: Redwood Investments LLC invests in Raytheon Co. (RTN) Shares

Today: Redwood Investments LLC invests in Raytheon Co. (RTN) Shares

Redwood Investments LLC boosted its stake in shares of Raytheon Co. (NYSE:RTN) by 21.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,174 shares of the company’s stock after buying an additional 6,823 shares during the period. Redwood Investments LLC’s holdings in Raytheon were worth $5,333,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CWM LLC increased its position in shares of Raytheon by 14.0% in the third quarter. CWM LLC now owns 814 shares of the company’s stock valued at $111,000 after buying an additional 100 shares during the period. Mycio Wealth Partners LLC increased its position in Raytheon by 214.9% in the third quarter. Mycio Wealth Partners LLC now owns 885 shares of the company’s stock worth $120,000 after buying an additional 604 shares during the period. Quadrant Capital Group LLC increased its position in Raytheon by 5.6% in the second quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock worth $131,000 after buying an additional 54 shares during the period. Pinkerton Retirement Specialists LLC bought a new position in Raytheon during the second quarter worth approximately $135,000. Finally, Reilly Financial Advisors LLC increased its position in Raytheon by 22.1% in the third quarter. Reilly Financial Advisors LLC now owns 1,105 shares of the company’s stock worth $150,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 75.99% of the company’s stock.

Shares of Raytheon Co. (NYSE:RTN) traded up 0.24% during trading on Monday, reaching $148.90. 1,350,862 shares of the company were exchanged. The stock has a 50-day moving average of $140.44 and a 200 day moving average of $137.75. Raytheon Co. has a 52-week low of $115.73 and a 52-week high of $152.58. The stock has a market capitalization of $43.72 billion, a P/E ratio of 19.88 and a beta of 0.62.

Raytheon (NYSE:RTN) last posted its quarterly earnings results 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. Raytheon had a net margin of 9.26% and a return on equity of 19.98%. The firm had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.04 billion. During the same quarter in the previous year, the company earned $1.47 earnings per share. The business’s revenue was up 4.3% compared to the same quarter last year. On average, equities analysts anticipate that Raytheon Co. will post $7.46 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 2nd. Shareholders of record on Wednesday, January 4th will be paid a dividend of $0.7325 per share. The ex-dividend date is Friday, December 30th. This represents a $2.93 dividend on an annualized basis and a yield of 1.96%. Raytheon’s dividend payout ratio is currently 39.12%.

A number of research analysts have commented on the stock. Wells Fargo & Co. reiterated a “buy” rating on shares of Raytheon in a research note on Monday, November 14th. Zacks Investment Research upgraded shares of Raytheon from a “sell” rating to a “hold” rating in a research note on Tuesday, November 1st. Deutsche Bank AG increased their price objective on shares of Raytheon from $140.00 to $145.00 and gave the company a “hold” rating in a research note on Friday, October 28th. Vertical Research assumed coverage on shares of Raytheon in a research note on Friday, October 28th. They set a “buy” rating and a $154.00 price objective on the stock. Finally, Robert W. Baird assumed coverage on shares of Raytheon in a research note on Thursday, October 6th. They set an “outperform” rating and a $170.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Raytheon presently has an average rating of “Buy” and an average price target of $149.62.

About Raytheon

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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