OLD Dominion Capital Management Inc. increased its stake in shares of Raytheon (NYSE:RTN) by 47.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,545 shares of the aerospace company’s stock after buying an additional 819 shares during the quarter. OLD Dominion Capital Management Inc.’s holdings in Raytheon were worth $478,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the stock. TCI Wealth Advisors Inc. lifted its stake in shares of Raytheon by 0.8% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 2,048 shares of the aerospace company’s stock valued at $331,000 after acquiring an additional 17 shares during the last quarter. Omnia Family Wealth LLC lifted its stake in shares of Raytheon by 2.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 1,326 shares of the aerospace company’s stock valued at $215,000 after acquiring an additional 30 shares during the last quarter. Courier Capital LLC lifted its stake in shares of Raytheon by 1.1% in the 2nd quarter. Courier Capital LLC now owns 2,772 shares of the aerospace company’s stock valued at $448,000 after acquiring an additional 30 shares during the last quarter. Linscomb & Williams Inc. lifted its stake in shares of Raytheon by 1.8% in the 2nd quarter. Linscomb & Williams Inc. now owns 1,734 shares of the aerospace company’s stock valued at $280,000 after acquiring an additional 30 shares during the last quarter. Finally, Regal Investment Advisors LLC lifted its stake in shares of Raytheon by 1.9% in the 2nd quarter. Regal Investment Advisors LLC now owns 1,722 shares of the aerospace company’s stock valued at $278,000 after acquiring an additional 32 shares during the last quarter. 72.66% of the stock is currently owned by institutional investors and hedge funds.
RTN has been the subject of several analyst reports. Bank of America set a $220.00 target price on Raytheon and gave the stock a “buy” rating in a research report on Friday, October 27th. Royal Bank of Canada set a $225.00 target price on Raytheon and gave the stock a “buy” rating in a research report on Thursday, November 16th. Buckingham Research raised their target price on Raytheon from $199.00 to $204.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Wells Fargo & Co lowered their target price on Raytheon from $200.00 to $195.00 and set an “outperform” rating for the company in a research report on Friday, October 27th. Finally, 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. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $210.77.
Shares of Raytheon (NYSE RTN) opened at $207.52 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.54 and a quick ratio of 1.46. The company has a market capitalization of $59,124.07, a PE ratio of 29.86, a PEG ratio of 1.94 and a beta of 0.76. Raytheon has a 12 month low of $148.65 and a 12 month high of $213.45.
Raytheon (NYSE:RTN) last issued its earnings results 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. The company had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.81 billion. Raytheon had a return on equity of 21.36% and a net margin of 7.98%. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the business posted $1.84 EPS. analysts anticipate that Raytheon will post 9.65 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 3rd were paid a $0.7975 dividend. The ex-dividend date of this dividend was Tuesday, January 2nd. This represents a $3.19 annualized dividend and a dividend yield of 1.54%. Raytheon’s dividend payout ratio is presently 45.90%.
Raytheon declared that its board has initiated a share repurchase plan on Wednesday, November 15th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.
In other Raytheon news, VP Frank R. Jimenez sold 175 shares of Raytheon stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $189.13, for a total transaction of $33,097.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen J. Hadley sold 800 shares of Raytheon stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $190.27, for a total value of $152,216.00. Following the transaction, the director now owns 11,360 shares of the company’s stock, valued at approximately $2,161,467.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,074 shares of company stock valued at $1,648,810. 0.19% of the stock is currently owned by company 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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