Amalgamated Bank decreased its position in Raytheon (NYSE:RTN) by 3.1% in the third quarter, Holdings Channel reports. The fund owned 43,462 shares of the aerospace company’s stock after selling 1,390 shares during the period. Amalgamated Bank’s holdings in Raytheon were worth $8,982,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. WESPAC Advisors SoCal LLC purchased a new position in Raytheon in the 3rd quarter worth $103,000. Fort L.P. acquired a new stake in Raytheon during the 2nd quarter worth about $117,000. Mainstay Capital Management LLC ADV grew its position in Raytheon by 19,218.3% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 25,307 shares of the aerospace company’s stock worth $131,000 after purchasing an additional 25,176 shares during the period. Salem Investment Counselors Inc. grew its position in Raytheon by 140.8% during the 2nd quarter. Salem Investment Counselors Inc. now owns 684 shares of the aerospace company’s stock worth $132,000 after purchasing an additional 400 shares during the period. Finally, Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in Raytheon during the 3rd quarter worth about $134,000. Institutional investors own 73.25% of the company’s stock.

Shares of RTN opened at $165.11 on Friday. The stock has a market cap of $47.15 billion, a price-to-earnings ratio of 21.67, a P/E/G ratio of 1.18 and a beta of 0.81. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.37 and a current ratio of 1.49. Raytheon has a fifty-two week low of $162.31 and a fifty-two week high of $229.75.

Raytheon (NYSE:RTN) last announced its quarterly earnings results on Thursday, October 25th. The aerospace company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.28. Raytheon had a return on equity of 24.43% and a net margin of 9.33%. The company had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same period last year, the firm earned $1.97 EPS. On average, analysts expect that Raytheon will post 10.1 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 31st. Stockholders of record on Wednesday, January 2nd will be given a dividend of $0.8675 per share. This represents a $3.47 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend is Monday, December 31st. Raytheon’s dividend payout ratio (DPR) is presently 45.54%.

Several equities research analysts have weighed in on the company. Barclays cut their price target on Raytheon from $239.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Morgan Stanley cut their price target on 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 cut their price target on Raytheon from $225.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, October 26th. Bank of America cut their price target on Raytheon from $245.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, October 26th. Finally, Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $221.00 price target on the stock in a research report on Thursday, October 11th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Raytheon presently has a consensus rating of “Buy” and an average price target of $227.15.

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Raytheon Company 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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