Financial Counselors Inc. reduced its position in Raytheon (NYSE:RTN) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 78,535 shares of the aerospace company’s stock after selling 777 shares during the quarter. Financial Counselors Inc.’s holdings in Raytheon were worth $14,753,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Signature Estate & Investment Advisors LLC bought a new stake in shares of Raytheon in the 3rd quarter valued at $103,000. Stonehearth Capital Management LLC bought a new position in Raytheon during the fourth quarter worth $103,000. Rowland & Co. Investment Counsel ADV bought a new position in Raytheon during the fourth quarter worth $106,000. Global Trust Asset Management LLC bought a new position in Raytheon during the fourth quarter worth $136,000. Finally, Invictus RG bought a new position in Raytheon during the third quarter worth $152,000. 71.98% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on RTN. Morgan Stanley increased their target price on shares of Raytheon from $224.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday. Cowen reissued a “buy” rating and set a $215.00 target price on shares of Raytheon in a research note on Friday, February 9th. Sanford C. Bernstein increased their target price on shares of Raytheon from $231.00 to $255.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Robert W. Baird reissued a “buy” rating and set a $237.00 target price on shares of Raytheon in a research note on Friday, January 26th. Finally, Stifel Nicolaus increased their target price on shares of Raytheon from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $214.12.
Raytheon (NYSE:RTN) opened at $218.24 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.46 and a current ratio of 1.54. Raytheon has a 1-year low of $148.65 and a 1-year high of $219.78. The firm has a market cap of $62,963.55, a price-to-earnings ratio of 28.31, a price-to-earnings-growth ratio of 2.07 and a beta of 0.77.
Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, January 25th. The aerospace company reported $2.03 earnings per share for the quarter, topping 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 firm had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the prior year, the company posted $1.84 earnings per share. The business’s revenue was up 8.0% on a year-over-year basis. equities analysts forecast that Raytheon will post 9.64 EPS for the current year.
Raytheon announced that its Board of Directors has approved a stock buyback plan on Wednesday, November 15th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the aerospace company to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
In other Raytheon news, CAO Michael J. Wood sold 3,989 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $215.88, for a total transaction of $861,145.32. Following the transaction, the chief accounting officer now owns 22,260 shares in the company, valued at $4,805,488.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Frank R. Jimenez sold 175 shares of the company’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. In the last 90 days, insiders have sold 69,792 shares of company stock worth $14,973,517. Corporate insiders own 0.19% of the company’s stock.
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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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