Private Capital Advisors Inc. lowered its holdings in Raytheon (NYSE:RTN) by 14.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,058 shares of the aerospace company’s stock after selling 6,875 shares during the period. Raytheon comprises about 2.6% of Private Capital Advisors Inc.’s portfolio, making the stock its 7th largest holding. Private Capital Advisors Inc.’s holdings in Raytheon were worth $7,525,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Raytheon by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 22,278,418 shares of the aerospace company’s stock valued at $3,597,519,000 after acquiring an additional 367,898 shares during the period. BlackRock Inc. grew its position in shares of Raytheon by 2.7% in the 2nd quarter. BlackRock Inc. now owns 19,934,958 shares of the aerospace company’s stock valued at $3,219,097,000 after acquiring an additional 527,139 shares during the period. Boston Partners grew its position in shares of Raytheon by 3.3% in the 2nd quarter. Boston Partners now owns 3,374,514 shares of the aerospace company’s stock valued at $544,916,000 after acquiring an additional 106,788 shares during the period. Franklin Resources Inc. grew its position in shares of Raytheon by 1.8% in the 2nd quarter. Franklin Resources Inc. now owns 2,611,461 shares of the aerospace company’s stock valued at $421,682,000 after acquiring an additional 46,444 shares during the period. Finally, Alliancebernstein L.P. grew its position in shares of Raytheon by 55.2% in the 2nd quarter. Alliancebernstein L.P. now owns 2,328,691 shares of the aerospace company’s stock valued at $376,037,000 after acquiring an additional 827,931 shares during the period. 73.12% of the stock is owned by institutional investors and hedge funds.
In other news, Director Stephen J. Hadley sold 800 shares of the firm’s 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 completion of the sale, the director now owns 11,360 shares in the company, valued at approximately $2,161,467.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Letitia A. Long sold 650 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $185.83, for a total transaction of $120,789.50. Following the sale, the director now owns 2,273 shares of the company’s stock, valued at approximately $422,391.59. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,895 shares of company stock valued at $357,215. 0.19% of the stock is currently owned by corporate insiders.
Raytheon (NYSE:RTN) traded up $4.11 during midday trading on Friday, hitting $197.46. 1,491,498 shares of the stock were exchanged, compared to its average volume of 1,383,311. The company has a current ratio of 1.66, a quick ratio of 1.55 and a debt-to-equity ratio of 0.44. The firm has a market cap of $57,080.00, a PE ratio of 26.58, a PEG ratio of 2.39 and a beta of 0.58. Raytheon has a one year low of $141.28 and a one year high of $198.07.
Raytheon (NYSE:RTN) last posted its earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.07. The company had revenue of $6.28 billion during the quarter, compared to analysts’ expectations 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 last year, the company posted $1.79 EPS. equities analysts anticipate that Raytheon will post 7.61 EPS for the current fiscal year.
Raytheon announced that its Board of Directors has authorized a stock repurchase program on Wednesday, November 15th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the aerospace company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 3rd will be paid a dividend of $0.7975 per share. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Tuesday, January 2nd. Raytheon’s dividend payout ratio is presently 42.93%.
A number of research analysts have recently commented on the stock. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $217.00 price objective for the company in a research report on Friday. Stifel Nicolaus reissued a “buy” rating and issued a $210.00 price objective on shares of Raytheon in a research report on Tuesday. ValuEngine raised shares of Raytheon from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. JPMorgan Chase & Co. downgraded shares of Raytheon from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $190.00 to $210.00 in a research report on Tuesday, December 12th. Finally, Wells Fargo & Co reissued an “outperform” rating and issued a $202.00 price objective (up previously from $195.00) on shares of Raytheon in a research report on Tuesday, November 28th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Raytheon currently has an average rating of “Buy” and an average price target of $203.36.
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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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