Sit Investment Associates Inc. lowered its holdings in shares of Raytheon (NYSE:RTN) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 194,248 shares of the aerospace company’s stock after selling 4,125 shares during the quarter. Raytheon makes up 0.9% of Sit Investment Associates Inc.’s portfolio, making the stock its 27th biggest holding. Sit Investment Associates Inc. owned approximately 0.07% of Raytheon worth $36,489,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Signature Estate & Investment Advisors LLC purchased a new position in shares of Raytheon in the 3rd quarter worth approximately $103,000. Jacobi Capital Management LLC lifted its stake in shares of Raytheon by 5.3% during the 2nd quarter. Jacobi Capital Management LLC now owns 797 shares of the aerospace company’s stock worth $132,000 after acquiring an additional 40 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new stake in shares of Raytheon during the 2nd quarter worth approximately $139,000. Invictus RG bought a new stake in shares of Raytheon during the 3rd quarter worth approximately $152,000. Finally, Horan Capital Advisors LLC. bought a new stake in Raytheon during the 3rd quarter valued at $168,000. Hedge funds and other institutional investors own 73.40% of the company’s stock.
Raytheon (NYSE:RTN) opened at $210.85 on Friday. Raytheon has a fifty-two week low of $143.96 and a fifty-two week high of $213.45. The company has a market capitalization of $60,950.00, a P/E ratio of 30.38, a price-to-earnings-growth ratio of 1.98 and a beta of 0.58. The company has a current ratio of 1.54, a quick ratio of 1.46 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, beating analysts’ consensus estimates of $2.02 by $0.01. The business had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.81 billion. Raytheon had a return on equity of 21.36% and a net margin of 7.98%. The business’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.84 earnings per share. equities research analysts expect that Raytheon will post 9.65 EPS for the current fiscal year.
Raytheon declared that its board has approved a share repurchase program on Wednesday, November 15th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the aerospace company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Stockholders 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 (DPR) is presently 45.97%.
In related news, Director Stephen J. Hadley sold 800 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $190.27, for a total value of $152,216.00. Following the completion of the transaction, the director now directly owns 11,360 shares in the company, valued at $2,161,467.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael J. Wood sold 1,974 shares of the stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $208.07, for a total value of $410,730.18. Following the completion of the transaction, the vice president now owns 17,467 shares of the company’s stock, valued at $3,634,358.69. The disclosure for this sale can be found here. Insiders sold 7,274 shares of company stock valued at $1,486,162 over the last 90 days. Company insiders own 0.19% of the company’s stock.
RTN has been the subject of a number of research analyst reports. Buckingham Research lifted their target price on Raytheon from $199.00 to $204.00 and gave the company a “buy” rating in a research report on Tuesday, October 31st. Robert W. Baird reaffirmed a “buy” rating and set a $212.00 target price on shares of Raytheon in a research report on Tuesday, October 24th. Cowen reiterated a “buy” rating and issued a $203.00 price target on shares of Raytheon in a report on Thursday, October 26th. Wells Fargo & Co cut their price target on Raytheon from $200.00 to $195.00 and set an “outperform” rating on the stock in a report on Friday, October 27th. Finally, Citigroup reiterated a “buy” rating and issued a $215.00 price target (up from $192.00) on shares of Raytheon in a report on Monday, October 9th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $210.77.
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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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