Lake Street Advisors Group LLC purchased a new stake in shares of Raytheon (NYSE:RTN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,497 shares of the aerospace company’s stock, valued at approximately $1,408,000.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Raytheon in the third quarter valued at about $103,000. Stonehearth Capital Management LLC acquired a new position in Raytheon during the fourth quarter worth about $103,000. Rowland & Co. Investment Counsel ADV acquired a new position in Raytheon during the fourth quarter worth about $106,000. Global Trust Asset Management LLC acquired a new position in Raytheon during the fourth quarter worth about $136,000. Finally, Invictus RG acquired a new position in Raytheon during the third quarter worth about $152,000. Institutional investors own 73.40% of the company’s stock.
A number of equities analysts recently weighed in on the stock. Stifel Nicolaus boosted their price target on shares of Raytheon from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Cowen restated a “buy” rating and set a $215.00 price target on shares of Raytheon in a research report on Thursday, January 25th. Zacks Investment Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. Royal Bank of Canada set a $235.00 target price on shares of Raytheon and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Finally, JPMorgan Chase & Co. downgraded shares of Raytheon from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $190.00 to $210.00 in a research note on Tuesday, December 12th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $214.12.
In other news, Chairman Thomas A. Kennedy sold 44,778 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $215.90, for a total value of $9,667,570.20. Following the sale, the chairman now directly owns 138,339 shares of the company’s stock, valued at approximately $29,867,390.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Taylor W. Lawrence sold 12,951 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $215.89, for a total transaction of $2,795,991.39. Following the completion of the sale, the vice president now directly owns 41,108 shares in the company, valued at $8,874,806.12. The disclosure for this sale can be found here. Insiders sold a total of 79,400 shares of company stock worth $17,052,714 over the last three months. Insiders own 0.19% of the company’s stock.
Shares of Raytheon stock opened at $208.40 on Monday. The stock has a market cap of $60,609.34, a P/E ratio of 30.23, a PEG ratio of 1.99 and a beta of 0.71. Raytheon has a 52 week low of $148.65 and a 52 week high of $222.82. 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 released its quarterly earnings results on Thursday, January 25th. The aerospace company reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.01. The business had revenue of $6.78 billion for 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 business’s revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.84 EPS. sell-side analysts anticipate that Raytheon will post 9.66 earnings per share for the current fiscal year.
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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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