Advisor Group Inc. Increases Stake in Raytheon Company (RTN)
Advisor Group Inc. grew its position in Raytheon Company (NYSE:RTN) by 8.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 52,225 shares of the aerospace company’s stock after purchasing an additional 4,042 shares during the period. Advisor Group Inc.’s holdings in Raytheon were worth $9,756,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Raytheon by 1.7% in the second quarter. Vanguard Group Inc. now owns 22,278,418 shares of the aerospace company’s stock worth $3,597,519,000 after buying an additional 367,898 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Raytheon by 2.7% in the second quarter. BlackRock Inc. now owns 19,934,958 shares of the aerospace company’s stock worth $3,219,097,000 after buying an additional 527,139 shares during the last quarter. State Street Corp boosted its stake in shares of Raytheon by 2.6% in the first quarter. State Street Corp now owns 12,585,731 shares of the aerospace company’s stock worth $1,919,348,000 after buying an additional 313,435 shares during the last quarter. Morgan Stanley boosted its stake in shares of Raytheon by 7.2% in the first quarter. Morgan Stanley now owns 4,491,454 shares of the aerospace company’s stock worth $684,945,000 after buying an additional 302,274 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its stake in shares of Raytheon by 0.7% in the first quarter. Clearbridge Investments LLC now owns 3,527,842 shares of the aerospace company’s stock worth $537,996,000 after buying an additional 23,172 shares during the last quarter. 73.87% of the stock is currently owned by institutional investors and hedge funds.
Shares of Raytheon Company (RTN) traded up $0.50 during mid-day trading on Friday, reaching $185.96. The company’s stock had a trading volume of 126,496 shares, compared to its average volume of 1,472,460. The stock has a market capitalization of $53,614.08, a P/E ratio of 24.53, a P/E/G ratio of 2.52 and a beta of 0.57. The company has a quick ratio of 1.55, a current ratio of 1.66 and a debt-to-equity ratio of 0.44. Raytheon Company has a 52 week low of $137.70 and a 52 week high of $190.25.
Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.07. The company had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.33 billion. Raytheon had a return on equity of 20.98% and a net margin of 8.77%. Raytheon’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.79 earnings per share. equities research analysts anticipate that Raytheon Company will post 7.61 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 3rd will be given a dividend of $0.7975 per share. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a $3.19 dividend on an annualized basis and a yield of 1.72%. Raytheon’s dividend payout ratio is currently 42.88%.
Raytheon declared that its board has authorized 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 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.
A number of brokerages have recently commented on RTN. Royal Bank Of Canada set a $225.00 target price on Raytheon and gave the stock a “buy” rating in a research note on Thursday, November 16th. Buckingham Research upped their target price on Raytheon from $199.00 to $204.00 and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Zacks Investment Research downgraded Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. J P Morgan Chase & Co lowered their target price on Raytheon from $194.00 to $190.00 and set an “overweight” rating on the stock in a research note on Monday, October 30th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $199.00 target price (up previously from $188.00) on shares of Raytheon in a research note on Monday, October 30th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Raytheon currently has an average rating of “Buy” and an average price target of $200.18.
In other news, VP Frank R. Jimenez sold 650 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $187.27, for a total value of $121,725.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Frank R. Jimenez sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $181.94, for a total value of $90,970.00. Following the completion of the transaction, the vice president now owns 29,292 shares in the company, valued at approximately $5,329,386.48. The disclosure for this sale can be found here. Insiders have sold 4,941 shares of company stock worth $902,999 in the last quarter. 0.19% of the stock is currently owned by company insiders.
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.
Receive News & Ratings for Raytheon Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon Company and related companies with Analyst Ratings Network's FREE daily email newsletter.