Raytheon (RTN) Stake Raised by Bessemer Group Inc.

Bessemer Group Inc. raised its stake in shares of Raytheon (NYSE:RTN) by 7.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,354,520 shares of the aerospace company’s stock after buying an additional 98,616 shares during the period. Raytheon makes up 1.0% of Bessemer Group Inc.’s portfolio, making the stock its 24th biggest position. Bessemer Group Inc. owned about 0.48% of Raytheon worth $279,925,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Stone Ridge Asset Management LLC boosted its holdings in shares of Raytheon by 14.3% in the third quarter. Stone Ridge Asset Management LLC now owns 34,012 shares of the aerospace company’s stock worth $7,029,000 after buying an additional 4,263 shares during the period. Commonwealth Equity Services LLC boosted its holdings in shares of Raytheon by 6.4% during the third quarter. Commonwealth Equity Services LLC now owns 112,349 shares of the aerospace company’s stock worth $23,218,000 after purchasing an additional 6,802 shares during the period. Sompo Japan Nipponkoa Asset Management CO. LTD. boosted its holdings in shares of Raytheon by 201.0% during the third quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. now owns 28,350 shares of the aerospace company’s stock worth $5,859,000 after purchasing an additional 18,930 shares during the period. Capital Management Associates NY boosted its holdings in shares of Raytheon by 29.2% during the third quarter. Capital Management Associates NY now owns 6,858 shares of the aerospace company’s stock worth $1,417,000 after purchasing an additional 1,550 shares during the period. Finally, Cadence Bank NA raised its position in Raytheon by 6.1% during the third quarter. Cadence Bank NA now owns 13,877 shares of the aerospace company’s stock valued at $2,868,000 after acquiring an additional 795 shares in the last quarter. 73.25% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $233.00 price objective on the stock in a research report on Wednesday, October 3rd. UBS Group started coverage on shares of Raytheon in a research report on Wednesday, August 15th. They issued a “buy” rating and a $250.00 price target on the stock. Morgan Stanley dropped their price target on shares of Raytheon from $228.00 to $221.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 14th. Wells Fargo & Co decreased their price target on shares of Raytheon from $225.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, October 26th. Finally, Bank of America decreased their price target on shares of Raytheon from $245.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, October 26th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $230.54.

Shares of Raytheon stock traded down $2.47 during trading on Monday, reaching $172.87. The company’s stock had a trading volume of 2,336,769 shares, compared to its average volume of 1,793,505. The stock has a market capitalization of $49.90 billion, a price-to-earnings ratio of 22.69, a P/E/G ratio of 1.25 and a beta of 0.82. Raytheon has a one year low of $165.00 and a one year high of $229.75. The company has a quick ratio of 1.37, a current ratio of 1.49 and a debt-to-equity ratio of 0.42.

Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, October 25th. The aerospace company reported $2.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.97 by $0.28. The firm 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 in the previous year, the business posted $1.97 EPS. As a group, sell-side analysts anticipate that Raytheon will post 10.1 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Wednesday, January 2nd will be issued a dividend of $0.8675 per share. The ex-dividend date of this dividend is Monday, December 31st. This represents a $3.47 annualized dividend and a yield of 2.01%. Raytheon’s dividend payout ratio is currently 45.54%.

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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.

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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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