Syntal Capital Partners LLC boosted its stake in shares of Raytheon (NYSE:RTN) by 78.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,103 shares of the aerospace company’s stock after buying an additional 3,551 shares during the period. Syntal Capital Partners LLC’s holdings in Raytheon were worth $1,522,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Signature Estate & Investment Advisors LLC purchased a new stake in Raytheon during the third quarter worth $103,000. Stonehearth Capital Management LLC purchased a new stake in Raytheon during the fourth quarter worth $103,000. Rowland & Co. Investment Counsel ADV purchased a new stake in Raytheon during the fourth quarter worth $106,000. Jacobi Capital Management LLC lifted its holdings in Raytheon by 5.3% during the second quarter. Jacobi Capital Management LLC now owns 797 shares of the aerospace company’s stock worth $132,000 after buying an additional 40 shares during the period. Finally, Invictus RG purchased a new stake in Raytheon during the third quarter worth $152,000. Institutional investors own 73.26% of the company’s stock.
Raytheon (RTN) traded up $1.26 during midday trading on Thursday, hitting $196.99. The company had a trading volume of 1,519,900 shares, compared to its average volume of 1,422,082. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.55 and a current ratio of 1.66. Raytheon has a 52-week low of $141.28 and a 52-week high of $199.75. The firm has a market cap of $56,680.00, a P/E ratio of 26.51, a price-to-earnings-growth ratio of 2.71 and a beta of 0.58.
Raytheon declared that its board has initiated a stock repurchase plan on Wednesday, November 15th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 3rd will be given a $0.7975 dividend. This represents a $3.19 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Tuesday, January 2nd. Raytheon’s payout ratio is 42.93%.
In related news, VP Frank R. Jimenez sold 175 shares of the company’s stock in a transaction on Saturday, December 29th. The stock was sold at an average price of $189.13, for a total value of $33,097.75. Following the transaction, the vice president now directly owns 28,311 shares of the company’s stock, valued at approximately $5,354,459.43. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Stephen J. Hadley sold 800 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 11,360 shares in the company, valued at $2,161,467.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,895 shares of company stock worth $357,215. 0.19% of the stock is owned by insiders.
RTN has been the subject of a number of analyst reports. Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a report on Wednesday, September 20th. Cowen restated a “buy” rating and set a $203.00 target price on shares of Raytheon in a report on Thursday, October 26th. Robert W. Baird reaffirmed a “buy” rating and set a $212.00 price target on shares of Raytheon in a research report on Tuesday, October 24th. Royal Bank of Canada reaffirmed a “buy” rating and set a $209.00 price target on shares of Raytheon in a research report on Tuesday, October 10th. Finally, Citigroup reaffirmed a “buy” rating and set a $215.00 price target (up from $192.00) on shares of Raytheon in a research report on Monday, October 9th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $204.12.
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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