Atlantic Trust Group LLC grew its holdings in shares of Raytheon (NYSE:RTN) by 1,486.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 273,340 shares of the aerospace company’s stock after purchasing an additional 256,106 shares during the period. Atlantic Trust Group LLC owned approximately 0.09% of Raytheon worth $50,999,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in RTN. Janus Henderson Group PLC raised its holdings in Raytheon by 13,784.9% in the 2nd quarter. Janus Henderson Group PLC now owns 1,494,150 shares of the aerospace company’s stock worth $241,276,000 after acquiring an additional 1,483,389 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Raytheon by 55.2% in the 2nd quarter. Alliancebernstein L.P. now owns 2,328,691 shares of the aerospace company’s stock worth $376,037,000 after acquiring an additional 827,931 shares during the last quarter. UBS Asset Management Americas Inc. raised its holdings in Raytheon by 42.7% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,826,164 shares of the aerospace company’s stock worth $294,889,000 after acquiring an additional 546,398 shares during the last quarter. BlackRock Inc. raised its holdings in Raytheon by 2.7% in the 2nd quarter. BlackRock Inc. now owns 19,934,958 shares of the aerospace company’s stock worth $3,219,097,000 after acquiring an additional 527,139 shares during the last quarter. Finally, Stifel Financial Corp raised its holdings in Raytheon by 2,385.7% in the 3rd quarter. Stifel Financial Corp now owns 488,766 shares of the aerospace company’s stock worth $90,995,000 after acquiring an additional 469,103 shares during the last quarter. Hedge funds and other institutional investors own 73.12% of the company’s stock.
In other Raytheon news, Director Letitia A. Long sold 650 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $185.83, for a total transaction of $120,789.50. Following the completion of the transaction, the director now owns 2,273 shares of the company’s stock, valued at approximately $422,391.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen J. Hadley sold 800 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $190.27, for a total transaction of $152,216.00. Following the transaction, the director now directly owns 11,360 shares of the company’s stock, valued at approximately $2,161,467.20. The disclosure for this sale can be found here. Insiders sold a total of 1,895 shares of company stock valued at $357,215 in the last ninety days. 0.19% of the stock is currently owned by insiders.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $217.00 price objective for the company in a report on Friday. Stifel Nicolaus restated a “buy” rating and issued a $210.00 price objective on shares of Raytheon in a report on Tuesday. Robert W. Baird restated a “buy” rating and issued a $212.00 price objective on shares of Raytheon in a report on Tuesday, October 24th. Royal Bank of Canada restated a “buy” rating and issued a $209.00 price objective on shares of Raytheon in a report on Tuesday, October 10th. Finally, ValuEngine upgraded shares of Raytheon from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $203.36.
Shares of Raytheon (NYSE:RTN) traded up $4.11 during trading on Friday, reaching $197.46. 1,490,000 shares of the company traded hands, compared to its average volume of 1,280,000. The company has a market cap of $57,080.00, a P/E ratio of 26.58, a P/E/G ratio of 2.67 and a beta of 0.58. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.66 and a quick ratio of 1.55. Raytheon has a one year low of $141.28 and a one year high of $198.07.
Raytheon (NYSE:RTN) last issued its earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.07. The company had revenue of $6.28 billion during the quarter, compared to the consensus estimate of $6.33 billion. Raytheon had a net margin of 8.77% and a return on equity of 20.98%. Raytheon’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.79 EPS. analysts anticipate that Raytheon will post 7.61 earnings per share for the current fiscal year.
Raytheon declared that its board has approved a stock repurchase plan on Wednesday, November 15th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the aerospace company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 3rd will be issued a $0.7975 dividend. This represents a $3.19 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Tuesday, January 2nd. Raytheon’s dividend payout ratio is currently 42.93%.
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Raytheon Company Profile
Raytheon Company is a technology company, which specializes in defense and other government markets. The Company develops integrated products, services and solutions in various markets, including sensing; effects; command, control, communications, computers, cyber and intelligence; mission support, and cybersecurity.
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