Public Employees Retirement System of Ohio increased its stake in Raytheon (NYSE:RTN) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 203,093 shares of the aerospace company’s stock after purchasing an additional 1,104 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.07% of Raytheon worth $38,151,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Signature Estate & Investment Advisors LLC bought a new position in shares of Raytheon in the third quarter worth $103,000. Stonehearth Capital Management LLC bought a new position in shares of Raytheon in the fourth quarter worth $103,000. Rowland & Co. Investment Counsel ADV bought a new position in shares of Raytheon in the fourth quarter worth $106,000. Global Trust Asset Management LLC bought a new position in shares of Raytheon in the fourth quarter worth $136,000. Finally, Invictus RG bought a new position in shares of Raytheon in the third quarter worth $152,000. Institutional investors own 72.66% of the company’s stock.
A number of research analysts recently commented on RTN shares. Royal Bank of Canada set a $225.00 price target on Raytheon and gave the stock a “buy” rating in a research report on Thursday, November 16th. 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. Cowen reiterated a “buy” rating and issued a $203.00 target price on shares of Raytheon in a research report on Thursday, October 26th. Robert W. Baird reiterated a “buy” rating and issued a $212.00 target price on shares of Raytheon in a research report on Tuesday, October 24th. Finally, Bank of America set a $220.00 target price on Raytheon and gave the company a “buy” rating in a research report on Friday, October 27th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $210.77.
Shares of Raytheon (RTN) opened at $207.52 on Tuesday. The firm 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. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.46 and a current ratio of 1.54. Raytheon has a twelve month low of $148.65 and a twelve month high of $213.45.
Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, January 25th. The aerospace company reported $2.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.01. The company had revenue of $6.78 billion for 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 quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.84 earnings per share. research analysts anticipate that Raytheon will post 9.65 EPS for the current year.
The company 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. This represents a $3.19 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend was Tuesday, January 2nd. Raytheon’s dividend payout ratio (DPR) is currently 45.90%.
Raytheon announced that its board has authorized a stock buyback 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 repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
In other news, VP Frank R. Jimenez sold 175 shares of the business’s 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. Following the sale, the vice president now directly owns 28,311 shares in the company, valued at $5,354,459.43. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Stephen J. Hadley sold 800 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $190.27, for a total value of $152,216.00. Following the sale, the director now owns 11,360 shares in the company, valued at $2,161,467.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,074 shares of company stock worth $1,648,810. Company insiders own 0.19% of the company’s stock.
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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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