Heritage Investors Management Corp lifted its position in shares of Raytheon (NYSE:RTN) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,259 shares of the aerospace company’s stock after buying an additional 260 shares during the period. Heritage Investors Management Corp’s holdings in Raytheon were worth $2,866,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. OxFORD Asset Management LLP increased its holdings in Raytheon by 238.8% in the 2nd quarter. OxFORD Asset Management LLP now owns 51,452 shares of the aerospace company’s stock valued at $8,308,000 after purchasing an additional 36,265 shares in the last quarter. Investment Centers of America Inc. increased its holdings in Raytheon by 26.8% in the 3rd quarter. Investment Centers of America Inc. now owns 2,635 shares of the aerospace company’s stock valued at $492,000 after purchasing an additional 557 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Raytheon by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 798,986 shares of the aerospace company’s stock valued at $129,017,000 after purchasing an additional 2,849 shares in the last quarter. Boulegeris Investments Inc. increased its holdings in Raytheon by 32.5% in the 3rd quarter. Boulegeris Investments Inc. now owns 11,550 shares of the aerospace company’s stock valued at $2,155,000 after purchasing an additional 2,835 shares in the last quarter. Finally, Stevens Capital Management LP acquired a new stake in Raytheon in the 3rd quarter valued at $24,642,000. Hedge funds and other institutional investors own 72.66% of the company’s stock.
Raytheon (RTN) opened at $204.52 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.54 and a quick ratio of 1.46. The firm has a market cap of $59,124.07, a PE ratio of 29.43, a price-to-earnings-growth ratio of 1.94 and a beta of 0.76. Raytheon has a 12-month low of $148.65 and a 12-month high of $213.45.
Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, January 25th. The aerospace company reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.01. The company had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.81 billion. Raytheon had a net margin of 7.98% and a return on equity of 21.36%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.84 EPS. equities research analysts predict that Raytheon will post 9.65 earnings per share for the current year.
Raytheon declared that its Board of Directors has approved a stock repurchase program on Wednesday, November 15th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 3rd were given a dividend of $0.7975 per share. The ex-dividend date was Tuesday, January 2nd. This represents a $3.19 annualized dividend and a dividend yield of 1.56%. Raytheon’s payout ratio is 45.90%.
In other news, 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 owns 11,360 shares of the company’s stock, valued at $2,161,467.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Frank R. Jimenez sold 175 shares of the stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $189.13, for a total transaction of $33,097.75. The disclosure for this sale can be found here. Insiders have sold 7,274 shares of company stock worth $1,486,162 in the last ninety days. Corporate insiders own 0.19% of the company’s stock.
Several analysts recently issued reports on RTN shares. Bank of America set a $220.00 price target on Raytheon and gave the company a “buy” rating in a report on Friday, October 27th. Royal Bank of Canada set a $225.00 price target on Raytheon and gave the company a “buy” rating in a report on Thursday, November 16th. Buckingham Research increased their price target on Raytheon from $199.00 to $204.00 and gave the company a “buy” rating in a report on Tuesday, October 31st. Wells Fargo & Co lowered their price target on Raytheon from $200.00 to $195.00 and set an “outperform” rating for the company in a report on Friday, October 27th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $212.00 price target on shares of Raytheon in a report on Tuesday, October 24th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Raytheon has an average rating of “Buy” and a consensus target price of $210.77.
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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