Nichols & Pratt Advisers LLP MA reduced its holdings in shares of Raytheon (NYSE:RTN) by 76.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,500 shares of the aerospace company’s stock after selling 8,000 shares during the quarter. Nichols & Pratt Advisers LLP MA’s holdings in Raytheon were worth $470,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the stock. Arizona State Retirement System lifted its stake in Raytheon by 10.2% in the 4th quarter. Arizona State Retirement System now owns 108,969 shares of the aerospace company’s stock worth $20,470,000 after purchasing an additional 10,048 shares in the last quarter. GWM Advisors LLC lifted its stake in Raytheon by 6.6% in the 4th quarter. GWM Advisors LLC now owns 45,751 shares of the aerospace company’s stock worth $8,801,000 after purchasing an additional 2,816 shares in the last quarter. D.A. Davidson & CO. lifted its stake in Raytheon by 25.9% in the 4th quarter. D.A. Davidson & CO. now owns 25,634 shares of the aerospace company’s stock worth $4,815,000 after purchasing an additional 5,266 shares in the last quarter. Capital Planning Advisors LLC lifted its stake in Raytheon by 94.9% in the 4th quarter. Capital Planning Advisors LLC now owns 5,132 shares of the aerospace company’s stock worth $964,000 after purchasing an additional 2,499 shares in the last quarter. Finally, Advisory Services Network LLC lifted its stake in Raytheon by 12.7% in the 4th quarter. Advisory Services Network LLC now owns 12,933 shares of the aerospace company’s stock worth $2,429,000 after purchasing an additional 1,454 shares in the last quarter. Institutional investors own 72.66% of the company’s stock.
Several analysts have issued reports on RTN shares. Bank of America set a $220.00 target price on shares of Raytheon and gave the stock a “buy” rating in a research note on Friday, October 27th. Royal Bank of Canada set a $225.00 target price on shares of Raytheon and gave the stock a “buy” rating in a research note on Thursday, November 16th. Buckingham Research increased their target price on shares of Raytheon from $199.00 to $204.00 and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Wells Fargo & Co lowered their target price on shares of Raytheon from $200.00 to $195.00 and set an “outperform” rating on the stock in a research note on Friday, October 27th. Finally, Robert W. Baird reissued a “buy” rating and issued a $212.00 price target on shares of Raytheon in a report on Tuesday, October 24th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $210.77.
Raytheon (NYSE RTN) opened at $218.18 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.46 and a debt-to-equity ratio of 0.48. Raytheon has a twelve month low of $148.65 and a twelve month high of $218.19. The company has a market cap of $61,330.60, a price-to-earnings ratio of 31.39, a P/E/G ratio of 2.01 and a beta of 0.77.
Raytheon (NYSE:RTN) last released 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. Raytheon had a net margin of 7.98% and a return on equity of 21.36%. The company had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same quarter last year, the firm earned $1.84 EPS. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. research analysts forecast that Raytheon will post 9.65 earnings per share for the current year.
Raytheon announced that its board has authorized a share repurchase plan on Wednesday, November 15th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the aerospace company to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
In related news, 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 transaction of $152,216.00. Following the completion of the transaction, the director now directly owns 11,360 shares of the company’s stock, valued at approximately $2,161,467.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Thomas A. Kennedy sold 44,778 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $215.90, for a total transaction of $9,667,570.20. Following the sale, the chairman now owns 138,339 shares of the company’s stock, valued at $29,867,390.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,792 shares of company stock worth $14,973,517. 0.19% of the stock is owned by insiders.
COPYRIGHT VIOLATION NOTICE: This news story was posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this news story on another domain, it was illegally copied and reposted in violation of US & international trademark and copyright law. The legal version of this news story can be accessed at https://www.dispatchtribunal.com/2018/02/16/nichols-pratt-advisers-llp-ma-sells-8000-shares-of-raytheon-rtn.html.
Raytheon Company 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.
Receive News & Ratings for Raytheon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon and related companies with MarketBeat.com's FREE daily email newsletter.