HPM Partners LLC increased its stake in shares of Raytheon (NYSE:RTN) by 8.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,517 shares of the aerospace company’s stock after buying an additional 287 shares during the quarter. HPM Partners LLC’s holdings in Raytheon were worth $661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Raytheon during the third quarter valued at $103,000. Stonehearth Capital Management LLC purchased a new stake in shares of Raytheon during the fourth quarter valued at $103,000. Rowland & Co. Investment Counsel ADV purchased a new stake in shares of Raytheon during the fourth quarter valued at $106,000. Global Trust Asset Management LLC purchased a new stake in shares of Raytheon during the fourth quarter valued at $136,000. Finally, Invictus RG purchased a new stake in shares of Raytheon during the third quarter valued at $152,000. 73.51% of the stock is currently owned by hedge funds and other institutional investors.
RTN has been the topic of several recent research reports. Royal Bank of Canada set a $225.00 price target on shares of Raytheon and gave the company a “buy” rating in a report on Thursday, November 16th. JPMorgan Chase & Co. lowered shares of Raytheon from an “overweight” rating to a “neutral” rating and upped their price target for the company from $190.00 to $210.00 in a report on Tuesday, December 12th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $215.00 price target (up from $202.00) on shares of Raytheon in a report on Tuesday, January 16th. Robert W. Baird reaffirmed a “buy” rating and issued a $237.00 price target on shares of Raytheon in a report on Friday, January 26th. Finally, Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $217.00 price target on the stock in a report on Friday, January 12th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $214.12.
In other Raytheon news, CAO Michael J. Wood sold 3,989 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $215.88, for a total value of $861,145.32. Following the completion of the transaction, the chief accounting officer now owns 22,260 shares in the company, valued at $4,805,488.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Thomas A. Kennedy sold 44,778 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $215.90, for a total transaction of $9,667,570.20. Following the completion of the transaction, the chairman now owns 138,339 shares of the company’s stock, valued at approximately $29,867,390.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,400 shares of company stock valued at $17,052,714. Insiders own 0.19% of the company’s stock.
Raytheon (NYSE RTN) opened at $210.62 on Wednesday. The firm has a market cap of $60,597.79, a PE ratio of 30.31, a price-to-earnings-growth ratio of 1.99 and a beta of 0.71. Raytheon has a 1 year low of $148.65 and a 1 year high of $222.82. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.54 and a quick ratio of 1.46.
Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, January 25th. The aerospace company reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.01. The business had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.81 billion. Raytheon had a net margin of 7.98% and a return on equity of 21.36%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.84 earnings per share. sell-side analysts expect that Raytheon will post 9.66 EPS for the current year.
Raytheon declared that its Board of Directors has authorized a share repurchase program on Wednesday, November 15th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the aerospace company to buy 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.
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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