Regentatlantic Capital LLC lowered its holdings in Raytheon (NYSE:RTN) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,418 shares of the aerospace company’s stock after selling 1,741 shares during the period. Regentatlantic Capital LLC’s holdings in Raytheon were worth $9,471,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RTN. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Raytheon in the 3rd quarter worth about $103,000. Stonehearth Capital Management LLC acquired a new position in shares of Raytheon in the 4th quarter worth approximately $103,000. Rowland & Co. Investment Counsel ADV acquired a new position in shares of Raytheon in the 4th quarter worth approximately $106,000. Jacobi Capital Management LLC grew its stake in shares of 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 purchasing an additional 40 shares during the last quarter. Finally, Invictus RG acquired a new position in shares of Raytheon in the third quarter worth about $152,000. 72.66% of the stock is owned by institutional investors and hedge funds.
Several analysts recently commented on RTN shares. Royal Bank of Canada set a $235.00 price target on shares of Raytheon and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Zacks Investment Research lowered shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Robert W. Baird reissued a “buy” rating and issued a $237.00 price target on shares of Raytheon in a research report on Friday, January 26th. Stifel Nicolaus boosted their target price on shares of Raytheon from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Finally, JPMorgan Chase & Co. lowered shares of Raytheon from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $190.00 to $210.00 in a research report on Tuesday, December 12th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $210.77.
Shares of Raytheon (RTN) opened at $212.58 on Thursday. Raytheon has a 52 week low of $148.65 and a 52 week high of $213.45. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.46 and a current ratio of 1.54. The stock 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 released its quarterly earnings results on Thursday, January 25th. The aerospace company reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.01. The firm 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 business’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.84 EPS. analysts anticipate that Raytheon will post 9.65 earnings per share for the current year.
Raytheon announced that its board has authorized a stock repurchase plan on Wednesday, November 15th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
In other Raytheon news, Director Stephen J. Hadley sold 800 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $190.27, for a total transaction of $152,216.00. Following the transaction, the director now owns 11,360 shares in the company, valued at approximately $2,161,467.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Frank R. Jimenez sold 3,405 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $210.93, for a total value of $718,216.65. Following the completion of the transaction, the vice president now owns 25,342 shares in the company, valued at approximately $5,345,388.06. The disclosure for this sale can be found here. In the last three months, insiders sold 8,074 shares of company stock valued at $1,648,810. 0.19% of the stock is currently 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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