Raytheon (RTN) Position Trimmed by Barrow Hanley Mewhinney & Strauss LLC

Raytheon (RTN) Position Trimmed by Barrow Hanley Mewhinney & Strauss LLC

Barrow Hanley Mewhinney & Strauss LLC trimmed its position in shares of Raytheon (NYSE:RTN) by 6.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,385,056 shares of the aerospace company’s stock after selling 95,020 shares during the period. Barrow Hanley Mewhinney & Strauss LLC’s holdings in Raytheon were worth $260,183,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Tower Research Capital LLC TRC acquired a new position in Raytheon during the fourth quarter worth $666,000. BlackRock Inc. increased its holdings in shares of Raytheon by 6.2% in the fourth quarter. BlackRock Inc. now owns 21,240,939 shares of the aerospace company’s stock valued at $3,990,111,000 after purchasing an additional 1,237,648 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Raytheon by 2.4% in the fourth quarter. Bank of New York Mellon Corp now owns 4,182,034 shares of the aerospace company’s stock valued at $785,594,000 after purchasing an additional 99,090 shares during the last quarter. River Wealth Advisors LLC increased its holdings in shares of Raytheon by 25.6% in the fourth quarter. River Wealth Advisors LLC now owns 5,175 shares of the aerospace company’s stock valued at $972,000 after purchasing an additional 1,054 shares during the last quarter. Finally, Montag A & Associates Inc. increased its holdings in shares of Raytheon by 179.3% in the fourth quarter. Montag A & Associates Inc. now owns 7,101 shares of the aerospace company’s stock valued at $1,334,000 after purchasing an additional 4,559 shares during the last quarter. Institutional investors and hedge funds own 72.66% of the company’s stock.

In other news, Director Stephen J. Hadley sold 800 shares of the business’s 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 completion of the sale, the director now owns 11,360 shares of the company’s stock, valued at $2,161,467.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Thomas A. Kennedy sold 44,778 shares of the business’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 completion of the sale, the chairman now directly owns 138,339 shares of the company’s stock, valued at approximately $29,867,390.10. The disclosure for this sale can be found here. In the last three months, insiders sold 69,792 shares of company stock valued at $14,973,517. 0.19% of the stock is currently owned by company insiders.

Shares of Raytheon (NYSE RTN) opened at $217.73 on Friday. The stock has a market cap of $62,820.00, a PE ratio of 31.37, a PEG ratio of 2.07 and a beta of 0.76. Raytheon has a 52-week low of $148.65 and a 52-week high of $218.78. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.54 and a quick ratio of 1.46.

Raytheon (NYSE:RTN) last announced its earnings results on Thursday, January 25th. The aerospace company reported $2.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.01. The company had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.81 billion. Raytheon had a net margin of 7.98% and a return on equity of 21.36%. Raytheon’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.84 earnings per share. sell-side analysts forecast that Raytheon will post 9.65 EPS for the current year.

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 shares. This buyback authorization permits the aerospace company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Several equities analysts have commented on RTN shares. Royal Bank of Canada set a $235.00 price objective on shares of Raytheon and gave the company a “buy” rating in a report on Tuesday, January 23rd. Zacks Investment Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Robert W. Baird reiterated a “buy” rating and issued a $237.00 price objective on shares of Raytheon in a report on Friday, January 26th. Stifel Nicolaus upped their price objective on shares of Raytheon from $210.00 to $220.00 and gave the company a “buy” rating in a report on Friday, January 26th. Finally, JPMorgan Chase & Co. downgraded shares of Raytheon from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $190.00 to $210.00 in a report on Tuesday, December 12th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Raytheon presently has an average rating of “Buy” and a consensus price target of $210.77.

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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.

Want to see what other hedge funds are holding RTN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raytheon (NYSE:RTN).

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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Barrow Hanley Mewhinney & Strauss LLC lowered its stake in Raytheon (NYSE:RTN) by 6.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,385,056 shares of the aerospace company’s stock after selling 95,020 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned about 0.48% of Raytheon worth $260,183,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Signature Estate & Investment Advisors LLC bought a new position in Raytheon in the third quarter valued at approximately $103,000. Stonehearth Capital Management LLC bought a new position in Raytheon in the fourth quarter valued at approximately $103,000. Rowland & Co. Investment Counsel ADV bought a new position in Raytheon in the fourth quarter valued at approximately $106,000. Global Trust Asset Management LLC bought a new position in Raytheon in the fourth quarter valued at approximately $136,000. Finally, Invictus RG bought a new position in Raytheon in the third quarter valued at approximately $152,000. 72.66% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have weighed in on RTN. Zacks Investment Research lowered shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Stifel Nicolaus lifted their price target on shares of Raytheon from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Cowen reaffirmed a “buy” rating and issued a $215.00 price target on shares of Raytheon in a research note on Thursday, January 25th. Robert W. Baird reaffirmed a “buy” rating and issued a $237.00 price target on shares of Raytheon in a research note on Friday, January 26th. Finally, JPMorgan Chase & Co. cut their price target on shares of Raytheon from $194.00 to $190.00 and set an “overweight” rating on the stock in a research note on Monday, October 30th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Raytheon has an average rating of “Buy” and a consensus target price of $210.77.

In related news, Director Letitia A. Long sold 650 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $185.83, for a total transaction of $120,789.50. Following the transaction, the director now directly owns 2,273 shares in the company, valued at $422,391.59. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Frank R. Jimenez sold 175 shares of the business’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $189.13, for a total transaction of $33,097.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,792 shares of company stock worth $14,973,517. 0.19% of the stock is owned by corporate insiders.

Shares of Raytheon (NYSE:RTN) opened at $217.73 on Friday. 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 fifty-two week low of $148.65 and a fifty-two week high of $218.78. The stock has a market cap of $62,820.00, a P/E ratio of 31.37, a PEG ratio of 2.07 and a beta of 0.76.

Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, January 25th. The aerospace company reported $2.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.01. The company had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.81 billion. Raytheon had a net margin of 7.98% and a return on equity of 21.36%. The firm’s revenue was up 8.0% compared to the same quarter last year. During the same period last year, the company earned $1.84 earnings per share. sell-side analysts predict that Raytheon will post 9.65 EPS for the current fiscal year.

Raytheon declared that its Board of Directors has authorized a share 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 typically an indication that the company’s management believes its shares are undervalued.

TRADEMARK VIOLATION NOTICE: This piece was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this piece on another domain, it was copied illegally and reposted in violation of US & international copyright laws. The correct version of this piece can be read at https://www.dispatchtribunal.com/2018/02/18/raytheon-rtn-position-trimmed-by-barrow-hanley-mewhinney-strauss-llc.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.

Want to see what other hedge funds are holding RTN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raytheon (NYSE:RTN).

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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.

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