Chevy Chase Trust Holdings Inc. Sells 3,048 Shares of Raytheon (RTN)

Chevy Chase Trust Holdings Inc. lessened its stake in shares of Raytheon (NYSE:RTN) by 1.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 255,067 shares of the aerospace company’s stock after selling 3,048 shares during the quarter. Chevy Chase Trust Holdings Inc. owned about 0.09% of Raytheon worth $47,915,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RTN. Signature Estate & Investment Advisors LLC purchased a new position in shares of Raytheon during the third quarter worth about $103,000. Stonehearth Capital Management LLC purchased a new position in shares of Raytheon during the fourth quarter worth about $103,000. Rowland & Co. Investment Counsel ADV bought a new stake in Raytheon in the 4th quarter worth approximately $106,000. Jacobi Capital Management LLC lifted its position in Raytheon by 5.3% in the 2nd quarter. Jacobi Capital Management LLC now owns 797 shares of the aerospace company’s stock worth $132,000 after buying an additional 40 shares during the last quarter. Finally, Invictus RG bought a new stake in Raytheon in the 3rd quarter worth approximately $152,000. 72.66% of the stock is owned by institutional investors and hedge funds.

Shares of Raytheon (NYSE:RTN) traded up $3.05 during mid-day trading on Wednesday, reaching $212.58. The company’s stock had a trading volume of 1,853,013 shares, compared to its average volume of 1,890,000. The company has a quick ratio of 1.46, a current ratio of 1.54 and a debt-to-equity ratio of 0.48. Raytheon has a 12-month low of $148.65 and a 12-month high of $213.45. The company has a market capitalization of $61,450.00, a P/E ratio of 30.63, a P/E/G ratio of 1.97 and a beta of 0.76.

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 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.84 earnings per share. equities analysts forecast that Raytheon will post 9.65 EPS for the current year.

Raytheon declared that its Board of Directors has approved a share repurchase plan on Wednesday, November 15th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the aerospace company to buy shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

A number of research firms recently weighed in on RTN. Cowen restated a “buy” rating and issued a $215.00 target price on shares of Raytheon in a research report on Friday, February 9th. Sanford C. Bernstein boosted their target price on Raytheon from $231.00 to $255.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Robert W. Baird restated a “buy” rating and issued a $237.00 target price on shares of Raytheon in a research report on Friday, January 26th. Stifel Nicolaus boosted their target price on Raytheon from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Finally, Royal Bank of Canada set a $235.00 target price on Raytheon and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. 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 has an average rating of “Buy” and a consensus target price of $210.77.

In related news, Director Stephen J. Hadley sold 800 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 10,845 shares in the company, valued at $2,204,896.95. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Letitia A. Long sold 650 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $185.83, for a total value of $120,789.50. Following the transaction, the director now owns 2,273 shares of the company’s stock, valued at approximately $422,391.59. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,074 shares of company stock valued at $1,648,810. 0.19% of the stock is owned by corporate insiders.

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Raytheon 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.

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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