Morse Asset Management Inc lessened its stake in Raytheon (NYSE:RTN) by 2.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,050 shares of the aerospace company’s stock after selling 385 shares during the period. Morse Asset Management Inc’s holdings in Raytheon were worth $3,015,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Raytheon by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 22,278,418 shares of the aerospace company’s stock worth $3,597,519,000 after acquiring an additional 367,898 shares in the last quarter. BlackRock Inc. lifted its stake in Raytheon by 2.7% in the 2nd quarter. BlackRock Inc. now owns 19,934,958 shares of the aerospace company’s stock valued at $3,219,097,000 after buying an additional 527,139 shares in the last quarter. Franklin Resources Inc. lifted its stake in Raytheon by 1.8% in the 2nd quarter. Franklin Resources Inc. now owns 2,611,461 shares of the aerospace company’s stock valued at $421,682,000 after buying an additional 46,444 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Raytheon by 55.2% in the 2nd quarter. Alliancebernstein L.P. now owns 2,328,691 shares of the aerospace company’s stock valued at $376,037,000 after buying an additional 827,931 shares in the last quarter. Finally, UBS Asset Management Americas Inc. lifted its stake in Raytheon by 42.7% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,826,164 shares of the aerospace company’s stock valued at $294,889,000 after buying an additional 546,398 shares in the last quarter. Hedge funds and other institutional investors own 72.66% of the company’s stock.
Raytheon (RTN) traded up $1.17 during trading on Tuesday, reaching $208.69. 349,125 shares of the company were exchanged, compared to its average volume of 1,852,963. Raytheon has a 1 year low of $148.65 and a 1 year high of $213.45. The company has a quick ratio of 1.46, a current ratio of 1.54 and a debt-to-equity ratio of 0.48. The firm has a market cap of $60,080.00, a price-to-earnings ratio of 30.04, a price-to-earnings-growth ratio of 1.94 and a beta of 0.76.
Raytheon (NYSE:RTN) last released its earnings results on Thursday, January 25th. The aerospace company reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.01. Raytheon had a net margin of 7.98% and a return on equity of 21.36%. The company had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the prior year, the firm earned $1.84 EPS. The company’s revenue was up 8.0% compared to the same quarter last year. equities analysts expect that Raytheon will post 9.65 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 3rd were issued a dividend of $0.7975 per share. 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 1.53%. Raytheon’s dividend payout ratio is currently 45.97%.
Raytheon announced that its board has initiated a stock repurchase program on Wednesday, November 15th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
A number of research firms have recently commented on RTN. Royal Bank of Canada set a $225.00 price objective on Raytheon and gave the stock a “buy” rating in a report on Thursday, November 16th. Buckingham Research upped their price target on shares of Raytheon from $199.00 to $204.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Cowen reaffirmed a “buy” rating and set a $203.00 price target on shares of Raytheon in a research report on Thursday, October 26th. Robert W. Baird reaffirmed a “buy” rating and set a $212.00 price target on shares of Raytheon in a research report on Tuesday, October 24th. Finally, Bank of America set a $220.00 price objective on shares of Raytheon and gave the company a “buy” rating in a research report on Friday, October 27th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $210.77.
In other Raytheon news, VP Frank R. Jimenez sold 3,405 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $210.93, for a total value of $718,216.65. Following the sale, the vice president now directly owns 25,342 shares in the company, valued at approximately $5,345,388.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen J. Hadley sold 800 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $203.31, for a total transaction of $162,648.00. Following the completion of the sale, the director now owns 10,845 shares in the company, valued at $2,204,896.95. The disclosure for this sale can be found here. Insiders have sold a total of 8,074 shares of company stock worth $1,648,810 in the last 90 days. 0.19% of the stock is owned by insiders.
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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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