Atria Investments LLC raised its position in Raytheon (NYSE:RTN) by 10.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,454 shares of the aerospace company’s stock after purchasing an additional 2,096 shares during the period. Atria Investments LLC’s holdings in Raytheon were worth $4,030,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of the business. Stonehearth Capital Management LLC bought a new stake in shares of Raytheon during the fourth quarter worth $103,000. Mitchell Mcleod Pugh & Williams Inc. increased its position in shares of Raytheon by 21.7% during the fourth quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,460 shares of the aerospace company’s stock worth $274,000 after acquiring an additional 260 shares in the last quarter. Daiwa SB Investments Ltd. increased its position in shares of Raytheon by 0.8% during the fourth quarter. Daiwa SB Investments Ltd. now owns 64,540 shares of the aerospace company’s stock worth $12,124,000 after acquiring an additional 510 shares in the last quarter. Rowland & Co. Investment Counsel ADV bought a new stake in shares of Raytheon during the fourth quarter worth $106,000. Finally, Grassi Investment Management increased its position in shares of Raytheon by 7.1% during the fourth quarter. Grassi Investment Management now owns 33,550 shares of the aerospace company’s stock worth $6,302,000 after acquiring an additional 2,225 shares in the last quarter. 73.26% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on RTN shares. Citigroup reissued a “buy” rating and set a $215.00 price objective (up previously from $192.00) on shares of Raytheon in a research report on Monday, October 9th. Bank of America set a $220.00 price objective on shares of Raytheon and gave the stock a “buy” rating in a research report on Friday, October 27th. Royal Bank of Canada set a $225.00 price objective on shares of Raytheon and gave the stock a “buy” rating in a research report on Thursday, November 16th. Buckingham Research increased their price objective on shares of Raytheon from $199.00 to $204.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Finally, Wells Fargo & Co reduced their target price on shares of Raytheon from $200.00 to $195.00 and set an “outperform” rating for the company in a report on Friday, October 27th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $204.12.
Raytheon (NYSE:RTN) last announced its earnings results on Thursday, October 26th. The aerospace company reported $1.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.07. Raytheon had a net margin of 8.77% and a return on equity of 20.98%. The business had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.33 billion. During the same quarter in the prior year, the company posted $1.79 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. analysts forecast that Raytheon will post 7.61 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 3rd will be paid a $0.7975 dividend. This represents a $3.19 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Tuesday, January 2nd. Raytheon’s dividend payout ratio is currently 42.93%.
Raytheon announced that its Board of Directors has approved a share repurchase 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 typically an indication that the company’s board of directors believes its stock is undervalued.
In other Raytheon news, VP Frank R. Jimenez sold 175 shares of the stock in a transaction on Friday, December 29th. The shares were sold at an average price of $189.13, for a total value of $33,097.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen J. Hadley sold 800 shares of the stock in a transaction on 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 sale, the director now owns 11,360 shares of the company’s stock, valued at approximately $2,161,467.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,895 shares of company stock valued at $357,215. 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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