PNC Financial Services Group Inc. Has $148,911,000 Position in Raytheon Co. (RTN)
PNC Financial Services Group Inc. increased its position in shares of Raytheon Co. (NYSE:RTN) by 1.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,093,876 shares of the company’s stock after buying an additional 13,482 shares during the period. PNC Financial Services Group Inc.’s holdings in Raytheon were worth $148,911,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Archford Capital Strategies LLC raised its stake in shares of Raytheon by 0.3% in the second quarter. Archford Capital Strategies LLC now owns 2,898 shares of the company’s stock worth $394,000 after buying an additional 8 shares during the period. HM Capital Management LLC raised its stake in shares of Raytheon by 0.5% in the third quarter. HM Capital Management LLC now owns 1,995 shares of the company’s stock worth $272,000 after buying an additional 10 shares during the period. Founders Capital Management LLC raised its stake in shares of Raytheon by 0.5% in the third quarter. Founders Capital Management LLC now owns 2,304 shares of the company’s stock worth $314,000 after buying an additional 12 shares during the period. Northstar Group Inc. raised its stake in shares of Raytheon by 0.4% in the second quarter. Northstar Group Inc. now owns 4,017 shares of the company’s stock worth $546,000 after buying an additional 15 shares during the period. Finally, Ausdal Financial Partners Inc. raised its stake in shares of Raytheon by 0.6% in the second quarter. Ausdal Financial Partners Inc. now owns 2,463 shares of the company’s stock worth $335,000 after buying an additional 15 shares during the period. Institutional investors own 75.99% of the company’s stock.
Shares of Raytheon Co. (NYSE:RTN) opened at 148.90 on Tuesday. The company has a market cap of $43.72 billion, a price-to-earnings ratio of 19.88 and a beta of 0.62. The firm’s 50-day moving average price is $140.79 and its 200 day moving average price is $137.97. Raytheon Co. has a 52 week low of $115.73 and a 52 week high of $152.58.
Raytheon (NYSE:RTN) last announced its earnings results on Thursday, October 27th. The company reported $1.79 EPS for the quarter, topping the Zacks’ consensus estimate of $1.64 by $0.15. Raytheon had a return on equity of 19.98% and a net margin of 9.26%. The company had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.04 billion. During the same period last year, the firm earned $1.47 EPS. Raytheon’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities research analysts forecast that Raytheon Co. will post $7.46 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 2nd. Investors of record on Wednesday, January 4th will be issued a $0.7325 dividend. The ex-dividend date of this dividend 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%.
RTN has been the topic of a number of recent analyst reports. Deutsche Bank AG lifted their price target on Raytheon from $140.00 to $145.00 and gave the stock a “hold” rating in a report on Friday, October 28th. Wells Fargo & Co. reissued a “buy” rating on shares of Raytheon in a research report on Monday, November 14th. Robert W. Baird assumed coverage on Raytheon in a research report on Thursday, October 6th. They issued an “outperform” rating and a $170.00 target price for the company. Citigroup Inc. raised their target price on Raytheon from $145.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, September 6th. Finally, Zacks Investment Research downgraded Raytheon from a “hold” rating to a “sell” rating in a research report on Monday, October 17th. 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 a consensus rating of “Buy” and an average target price 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.
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