Crow Point Partners LLC grew its holdings in Raytheon (NYSE:RTN) by 86.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,318 shares of the aerospace company’s stock after buying an additional 1,998 shares during the quarter. Crow Point Partners LLC’s holdings in Raytheon were worth $816,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. OxFORD Asset Management LLP lifted its stake in shares of Raytheon by 238.8% in the 2nd quarter. OxFORD Asset Management LLP now owns 51,452 shares of the aerospace company’s stock valued at $8,308,000 after purchasing an additional 36,265 shares during the period. Fishman Jay A Ltd. MI raised its stake in Raytheon by 31.5% during the second quarter. Fishman Jay A Ltd. MI now owns 94,392 shares of the aerospace company’s stock valued at $15,242,000 after buying an additional 22,610 shares during the last quarter. Summit Securities Group LLC raised its stake in Raytheon by 275.2% during the second quarter. Summit Securities Group LLC now owns 5,861 shares of the aerospace company’s stock valued at $946,000 after buying an additional 4,299 shares during the last quarter. Investment Centers of America Inc. raised its stake in Raytheon by 26.8% during the third quarter. Investment Centers of America Inc. now owns 2,635 shares of the aerospace company’s stock valued at $492,000 after buying an additional 557 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Raytheon by 0.4% during the second quarter. Dimensional Fund Advisors LP now owns 798,986 shares of the aerospace company’s stock valued at $129,017,000 after buying an additional 2,849 shares during the last quarter. Institutional investors and hedge funds own 73.40% of the company’s stock.
A number of analysts have commented on RTN shares. Royal Bank of Canada set a $235.00 target price on Raytheon and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Zacks Investment Research lowered Raytheon from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Robert W. Baird reaffirmed a “buy” rating and issued a $237.00 price objective on shares of Raytheon in a report on Friday, January 26th. Stifel Nicolaus lifted their price objective on Raytheon from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Finally, Citigroup reaffirmed a “buy” rating and issued a $215.00 price objective (up previously from $192.00) on shares of Raytheon in a report on Monday, October 9th. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Raytheon currently has an average rating of “Buy” and an average target price of $210.77.
In related news, VP Michael J. Wood sold 1,974 shares of the business’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $208.07, for a total value of $410,730.18. Following the sale, the vice president now directly owns 17,467 shares in the company, valued at $3,634,358.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Frank R. Jimenez sold 3,405 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $210.93, for a total value of $718,216.65. Following the completion of the sale, the vice president now owns 25,342 shares in the company, valued at $5,345,388.06. The disclosure for this sale can be found here. Insiders sold 7,274 shares of company stock worth $1,486,162 over the last quarter. 0.19% of the stock is owned by company insiders.
Raytheon (NYSE RTN) opened at $210.85 on Friday. Raytheon has a 52-week low of $144.02 and a 52-week high of $213.45. The company has a market capitalization of $60,950.00, a PE ratio of 30.38, a PEG ratio of 1.98 and a beta of 0.58. 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 announced its quarterly earnings data on Thursday, January 25th. The aerospace company reported $2.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.01. Raytheon had a return on equity of 21.36% and a net margin of 7.98%. The business had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the previous year, the business earned $1.84 earnings per share. The business’s revenue was up 8.0% on a year-over-year basis. sell-side analysts predict that Raytheon will post 9.65 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 3rd were given a $0.7975 dividend. The ex-dividend date of this dividend was Tuesday, January 2nd. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.51%. Raytheon’s dividend payout ratio is currently 45.97%.
Raytheon declared that its board has approved a share repurchase plan on Wednesday, November 15th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the aerospace company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
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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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