Captrust Financial Advisors acquired a new position in shares of Raytheon (NYSE:RTN) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,267 shares of the aerospace company’s stock, valued at approximately $238,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Signature Estate & Investment Advisors LLC bought a new position in shares of Raytheon in the third quarter worth $103,000. Stonehearth Capital Management LLC acquired a new stake in shares of Raytheon in the fourth quarter valued at $103,000. Rowland & Co. Investment Counsel ADV acquired a new stake in shares of Raytheon in the fourth quarter valued at $106,000. Global Trust Asset Management LLC acquired a new stake in shares of Raytheon in the fourth quarter valued at $136,000. Finally, Invictus RG acquired a new stake in shares of Raytheon in the third quarter valued at $152,000. Hedge funds and other institutional investors own 73.43% of the company’s stock.
In related news, VP Rebecca R. Rhoads sold 12,054 shares of the stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $212.09, for a total transaction of $2,556,532.86. Following the completion of the sale, the vice president now owns 26,266 shares in the company, valued at approximately $5,570,755.94. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Michael J. Wood sold 3,989 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $215.88, for a total value of $861,145.32. Following the sale, the chief accounting officer now owns 22,260 shares of the company’s stock, valued at approximately $4,805,488.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 105,866 shares of company stock worth $22,730,714. 0.19% of the stock is currently owned by insiders.
Several analysts have recently weighed in on the company. Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $245.00 price objective for the company in a report on Tuesday, March 27th. Wells Fargo restated an “outperform” rating and issued a $215.00 price objective (up previously from $202.00) on shares of Raytheon in a report on Tuesday, January 16th. Barclays began coverage on Raytheon in a report on Thursday, March 29th. They issued an “equal weight” rating and a $239.00 price objective for the company. Cowen reaffirmed a “buy” rating and set a $215.00 target price on shares of Raytheon in a report on Thursday, January 25th. Finally, Sanford C. Bernstein upped their target price on Raytheon from $231.00 to $255.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Raytheon has an average rating of “Buy” and a consensus target price of $219.36.
RTN stock traded down $3.48 during mid-day trading on Friday, hitting $215.91. The stock had a trading volume of 1,749,735 shares, compared to its average volume of 1,862,942. 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 has a 1-year low of $150.72 and a 1-year high of $222.82. The firm has a market cap of $62,291.34, a P/E ratio of 28.33, a PEG ratio of 2.04 and a beta of 0.70.
Raytheon (NYSE:RTN) last issued its earnings results on Thursday, January 25th. The aerospace company reported $2.03 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.01. The company had revenue of $6.78 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.84 EPS. research analysts expect that Raytheon will post 9.66 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 10th. Stockholders of record on Wednesday, April 11th will be issued a dividend of $0.8675 per share. This is a positive change from Raytheon’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, April 10th. This represents a $3.47 dividend on an annualized basis and a dividend yield of 1.61%. Raytheon’s dividend payout ratio is currently 41.86%.
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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.
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