Nepsis Capital Management Inc. Decreases Position in Raytheon Company (RTN)

Nepsis Capital Management Inc. trimmed its holdings in shares of Raytheon Company (NYSE:RTN) by 9.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,711 shares of the aerospace company’s stock after selling 3,021 shares during the period. Raytheon accounts for about 2.9% of Nepsis Capital Management Inc.’s holdings, making the stock its 18th biggest holding. Nepsis Capital Management Inc.’s holdings in Raytheon were worth $5,544,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in RTN. Signature Estate & Investment Advisors LLC purchased a new position in Raytheon in the 3rd quarter valued at about $103,000. St. Johns Investment Management Company LLC purchased a new position in Raytheon in the 2nd quarter valued at about $113,000. Jacobi Capital Management LLC boosted its position in Raytheon by 271.1% in the 1st quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock valued at $114,000 after buying an additional 553 shares during the last quarter. Invictus RG purchased a new position in Raytheon in the 3rd quarter valued at about $152,000. Finally, Shine Investment Advisory Services Inc. purchased a new position in Raytheon in the 2nd quarter valued at about $139,000. 73.53% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have weighed in on RTN. Vetr cut shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price objective for the company. in a research report on Tuesday, August 15th. Jefferies Group reissued a “buy” rating and issued a $190.00 price objective on shares of Raytheon in a research report on Friday, September 29th. ValuEngine cut shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Wells Fargo & Company reissued an “outperform” rating and issued a $202.00 price objective (up from $195.00) on shares of Raytheon in a research report on Tuesday, November 28th. Finally, BidaskClub cut shares of Raytheon from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 19th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $200.59.

In related news, Director Stephen J. Hadley sold 800 shares of the 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 sale, the director now owns 11,360 shares in the company, valued at $2,161,467.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Frank R. Jimenez sold 650 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $187.27, for a total transaction of $121,725.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,545 shares of company stock worth $291,955. 0.19% of the stock is owned by company insiders.

Shares of Raytheon Company (NYSE:RTN) traded up $1.93 during mid-day trading on Monday, hitting $188.07. 841,100 shares of the stock traded hands, compared to its average volume of 1,468,663. The company has a quick ratio of 1.55, a current ratio of 1.66 and a debt-to-equity ratio of 0.44. Raytheon Company has a twelve month low of $137.70 and a twelve month high of $191.36. The company has a market capitalization of $54,368.59, a PE ratio of 24.88, a price-to-earnings-growth ratio of 2.56 and a beta of 0.58.

Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.90 by $0.07. Raytheon had a net margin of 8.77% and a return on equity of 20.98%. The business had revenue of $6.28 billion for the quarter, compared to analysts’ expectations of $6.33 billion. During the same quarter last year, the company posted $1.79 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. equities research analysts expect that Raytheon Company will post 7.61 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 3rd will be given a dividend of $0.7975 per share. The ex-dividend date is Tuesday, January 2nd. This represents a $3.19 annualized dividend and a dividend yield of 1.70%. Raytheon’s payout ratio is 42.88%.

Raytheon announced that its board has authorized a stock repurchase program on Wednesday, November 15th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the aerospace company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

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Raytheon 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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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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