Montag A & Associates Inc. grew its holdings in Raytheon (NYSE:RTN) by 179.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,101 shares of the aerospace company’s stock after purchasing an additional 4,559 shares during the quarter. Montag A & Associates Inc.’s holdings in Raytheon were worth $1,334,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in RTN. Signature Estate & Investment Advisors LLC bought a new position in shares of Raytheon in the third quarter valued at approximately $103,000. Stonehearth Capital Management LLC bought a new position in Raytheon in the 4th quarter worth approximately $103,000. Rowland & Co. Investment Counsel ADV bought a new position in Raytheon in the 4th quarter worth approximately $106,000. Global Trust Asset Management LLC bought a new position in Raytheon in the 4th quarter worth approximately $136,000. Finally, Invictus RG bought a new position in Raytheon in the 3rd quarter worth approximately $152,000. 71.98% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Letitia A. Long sold 650 shares of the firm’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 completion of the transaction, the director now owns 2,273 shares of the company’s stock, valued at $422,391.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Michael J. Wood sold 3,989 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $215.88, for a total transaction of $861,145.32. Following the sale, the chief accounting officer now owns 22,260 shares of the company’s stock, valued at $4,805,488.80. 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 owned by insiders.
Shares of Raytheon (RTN) traded up $2.88 during trading hours on Friday, hitting $218.24. 934,203 shares of the company’s stock were exchanged, compared to its average volume of 1,920,000. 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 firm has a market cap of $62,960.00, a price-to-earnings ratio of 31.45, a PEG ratio of 2.04 and a beta of 0.76. Raytheon has a 1 year low of $148.65 and a 1 year high of $219.78.
Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, January 25th. The aerospace company reported $2.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.01. The business had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.81 billion. Raytheon had a net margin of 7.98% and a return on equity of 21.36%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the business posted $1.84 EPS. analysts forecast that Raytheon will post 9.65 earnings per share for the current fiscal 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 repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
A number of analysts have commented on the stock. Morgan Stanley lifted their target price on shares of Raytheon from $224.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday. Zacks Investment Research cut shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Stifel Nicolaus boosted their price objective on shares of Raytheon from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Cowen reissued a “buy” rating and set a $215.00 price target on shares of Raytheon in a research report on Thursday, January 25th. 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 report on Monday, October 30th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $214.12.
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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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