San Francisco Sentry Investment Group CA decreased its stake in shares of Raytheon (NYSE:RTN) by 36.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,981 shares of the aerospace company’s stock after selling 2,325 shares during the period. San Francisco Sentry Investment Group CA’s holdings in Raytheon were worth $748,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Signature Estate & Investment Advisors LLC acquired a new position in Raytheon during the 3rd quarter valued at about $103,000. Stonehearth Capital Management LLC acquired a new position in Raytheon during the 4th quarter valued at about $103,000. Rowland & Co. Investment Counsel ADV acquired a new position in Raytheon during the 4th quarter valued at about $106,000. Global Trust Asset Management LLC acquired a new position in Raytheon during the 4th quarter valued at about $136,000. Finally, Invictus RG acquired a new position in Raytheon during the 3rd quarter valued at about $152,000. 73.29% of the stock is currently owned by hedge funds and other institutional investors.
Raytheon (RTN) opened at $204.52 on Friday. Raytheon has a fifty-two week low of $148.65 and a fifty-two week high of $213.45. The company has a market cap of $59,124.07, a PE ratio of 26.53, a price-to-earnings-growth ratio of 1.94 and a beta of 0.76. The company has a quick ratio of 1.46, a current ratio of 1.54 and a debt-to-equity ratio of 0.48.
Raytheon (NYSE:RTN) last announced its earnings results on Thursday, January 25th. The aerospace company reported $2.03 EPS for the quarter, topping the consensus estimate of $2.02 by $0.01. Raytheon had a net margin of 7.98% and a return on equity of 21.36%. The company had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same period last year, the company posted $1.84 earnings per share. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. sell-side analysts predict that Raytheon will post 9.65 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Wednesday, January 3rd were issued a $0.7975 dividend. This represents a $3.19 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Tuesday, January 2nd. Raytheon’s payout ratio is 45.90%.
Raytheon announced that its board has approved a stock repurchase program on Wednesday, November 15th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the aerospace company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.
RTN has been the topic of several research analyst reports. Royal Bank of Canada set a $225.00 target price on shares of Raytheon and gave the company a “buy” rating in a research note on Thursday, November 16th. Buckingham Research raised their price objective on shares of Raytheon from $199.00 to $204.00 and gave the company a “buy” rating in a research report on Tuesday, October 31st. Cowen restated a “buy” rating and set a $203.00 price objective on shares of Raytheon in a research report on Thursday, October 26th. Robert W. Baird restated a “buy” rating and set a $212.00 price objective on shares of Raytheon in a research report on Tuesday, October 24th. Finally, Bank of America set a $220.00 price objective on shares of Raytheon and gave the company a “buy” rating in a research report on Friday, October 27th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $210.77.
In related news, Director Stephen J. Hadley sold 800 shares of the firm’s stock in a transaction that occurred on 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 directly owns 11,360 shares in the company, valued at $2,161,467.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Letitia A. Long sold 650 shares of the firm’s stock in a transaction that occurred on 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 $422,391.59. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,274 shares of company stock valued at $1,486,162. Corporate insiders own 0.19% of the company’s stock.
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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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