TD Asset Management Inc. cut its position in shares of Raytheon (NYSE:RTN) by 41.9% in the third quarter, HoldingsChannel.com reports. The firm owned 154,654 shares of the aerospace company’s stock after selling 111,430 shares during the quarter. TD Asset Management Inc.’s holdings in Raytheon were worth $31,961,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in RTN. Private Advisor Group LLC lifted its holdings in Raytheon by 79.7% during the 3rd quarter. Private Advisor Group LLC now owns 28,090 shares of the aerospace company’s stock valued at $5,805,000 after buying an additional 12,457 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Raytheon by 6.2% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 25,632 shares of the aerospace company’s stock valued at $5,297,000 after buying an additional 1,490 shares in the last quarter. Boston Family Office LLC lifted its holdings in Raytheon by 38.0% during the 3rd quarter. Boston Family Office LLC now owns 37,784 shares of the aerospace company’s stock valued at $7,808,000 after buying an additional 10,407 shares in the last quarter. Willingdon Wealth Management lifted its holdings in Raytheon by 8.0% during the 3rd quarter. Willingdon Wealth Management now owns 20,550 shares of the aerospace company’s stock valued at $4,247,000 after buying an additional 1,518 shares in the last quarter. Finally, Cognios Capital LLC lifted its holdings in Raytheon by 6.9% during the 3rd quarter. Cognios Capital LLC now owns 14,062 shares of the aerospace company’s stock valued at $2,905,000 after buying an additional 902 shares in the last quarter. 73.24% of the stock is owned by hedge funds and other institutional investors.

NYSE:RTN opened at $188.02 on Friday. Raytheon has a one year low of $165.00 and a one year high of $229.75. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.49 and a quick ratio of 1.37. The stock has a market capitalization of $53.31 billion, a PE ratio of 24.67, a price-to-earnings-growth ratio of 1.40 and a beta of 0.84.

Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, October 25th. The aerospace company reported $2.25 EPS for the quarter, beating the consensus estimate of $1.97 by $0.28. Raytheon had a net margin of 9.33% and a return on equity of 24.43%. The business had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.67 billion. During the same quarter in the previous year, the business posted $1.97 EPS. Research analysts forecast that Raytheon will post 10.1 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 8th. Stockholders of record on Wednesday, October 10th were issued a $0.8675 dividend. The ex-dividend date was Tuesday, October 9th. This represents a $3.47 annualized dividend and a dividend yield of 1.85%. Raytheon’s dividend payout ratio is currently 45.54%.

In other news, VP Taylor W. Lawrence sold 3,299 shares of the business’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $199.41, for a total value of $657,853.59. Following the completion of the sale, the vice president now owns 44,220 shares in the company, valued at approximately $8,817,910.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.19% of the company’s stock.

A number of equities research analysts recently weighed in on RTN shares. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $233.00 price objective for the company in a report on Wednesday, October 3rd. UBS Group started coverage on shares of Raytheon in a report on Wednesday, August 15th. They set a “buy” rating and a $250.00 price objective for the company. Stifel Nicolaus decreased their price objective on shares of Raytheon from $235.00 to $230.00 and set a “buy” rating for the company in a report on Friday, July 27th. Bank of America decreased their price objective on shares of Raytheon from $245.00 to $230.00 and set a “buy” rating for the company in a report on Friday, October 26th. Finally, Wells Fargo & Co decreased their price objective on shares of Raytheon from $225.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, October 26th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $231.08.

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Raytheon Profile

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.

Further Reading: Fundamental Analysis and Individual Investors

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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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