Private Advisor Group LLC lowered its holdings in Raytheon Company (NYSE:RTN) by 4.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,402 shares of the aerospace company’s stock after selling 899 shares during the period. Private Advisor Group LLC’s holdings in Raytheon were worth $3,835,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in RTN. Janus Henderson Group PLC grew its position in shares of Raytheon by 13,784.9% in the second quarter. Janus Henderson Group PLC now owns 1,494,150 shares of the aerospace company’s stock valued at $241,276,000 after purchasing an additional 1,483,389 shares during the period. Alliancebernstein L.P. grew its position in shares of Raytheon by 55.2% in the second quarter. Alliancebernstein L.P. now owns 2,328,691 shares of the aerospace company’s stock valued at $376,037,000 after purchasing an additional 827,931 shares during the period. UBS Asset Management Americas Inc. grew its position in shares of Raytheon by 42.7% in the second quarter. UBS Asset Management Americas Inc. now owns 1,826,164 shares of the aerospace company’s stock valued at $294,889,000 after purchasing an additional 546,398 shares during the period. BlackRock Inc. grew its position in shares of Raytheon by 2.7% in the second quarter. BlackRock Inc. now owns 19,934,958 shares of the aerospace company’s stock valued at $3,219,097,000 after purchasing an additional 527,139 shares during the period. Finally, Stifel Financial Corp grew its position in shares of Raytheon by 2,385.7% in the third quarter. Stifel Financial Corp now owns 488,766 shares of the aerospace company’s stock valued at $90,995,000 after purchasing an additional 469,103 shares during the period. 73.53% of the stock is owned by institutional investors and hedge funds.
Shares of Raytheon Company (RTN) traded up $0.94 on Friday, hitting $186.14. The company’s stock had a trading volume of 1,210,400 shares, compared to its average volume of 1,471,322. The firm has a market capitalization of $53,538.91, a PE ratio of 24.50, a PEG ratio of 2.52 and a beta of 0.58. Raytheon Company has a 12 month low of $137.70 and a 12 month high of $191.36. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.55 and a current ratio of 1.66.
Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, October 26th. The aerospace company reported $1.97 EPS for the quarter, topping the Zacks’ consensus estimate of $1.90 by $0.07. The company had revenue of $6.28 billion for the quarter, compared to analysts’ expectations of $6.33 billion. Raytheon had a return on equity of 20.98% and a net margin of 8.77%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.79 earnings per share. analysts predict that Raytheon Company will post 7.61 EPS for the current year.
Raytheon declared that its board has approved a stock buyback program on Wednesday, November 15th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 3rd will be paid a $0.7975 dividend. This represents a $3.19 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Tuesday, January 2nd. Raytheon’s dividend payout ratio (DPR) is 42.88%.
In related news, Director Stephen J. Hadley sold 800 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $190.27, for a total value of $152,216.00. Following the transaction, the director now owns 11,360 shares in the company, valued at $2,161,467.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Frank R. Jimenez sold 650 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $187.27, for a total value of $121,725.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,545 shares of company stock worth $291,955. Insiders own 0.19% of the company’s stock.
RTN has been the subject of a number of research reports. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $204.00 price target for the company in a research report on Thursday, September 14th. ValuEngine raised Raytheon from a “hold” rating to a “buy” rating in a research report on Monday, September 11th. Royal Bank Of Canada set a $193.00 price target on Raytheon and gave the company a “buy” rating in a research report on Monday, August 28th. Citigroup reissued a “buy” rating and set a $215.00 price target (up previously from $192.00) on shares of Raytheon in a research report on Monday, October 9th. Finally, Bank of America set a $220.00 price target on Raytheon and gave the company a “buy” rating in a research report on Friday, October 27th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Raytheon has a consensus rating of “Buy” and a consensus price target of $200.59.
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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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