Affinity Investment Advisors LLC Sells 1,280 Shares of Raytheon (RTN)
Affinity Investment Advisors LLC trimmed its position in shares of Raytheon (NYSE:RTN) by 26.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,474 shares of the aerospace company’s stock after selling 1,280 shares during the quarter. Affinity Investment Advisors LLC’s holdings in Raytheon were worth $653,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of RTN. OxFORD Asset Management LLP increased its holdings in Raytheon by 238.8% in the 2nd quarter. OxFORD Asset Management LLP now owns 51,452 shares of the aerospace company’s stock worth $8,308,000 after acquiring an additional 36,265 shares in the last quarter. Investment Centers of America Inc. increased its holdings in Raytheon by 26.8% in the 3rd quarter. Investment Centers of America Inc. now owns 2,635 shares of the aerospace company’s stock worth $492,000 after acquiring an additional 557 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Raytheon by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 798,986 shares of the aerospace company’s stock worth $129,017,000 after acquiring an additional 2,849 shares in the last quarter. Boulegeris Investments Inc. increased its holdings in Raytheon by 32.5% in the 3rd quarter. Boulegeris Investments Inc. now owns 11,550 shares of the aerospace company’s stock worth $2,155,000 after acquiring an additional 2,835 shares in the last quarter. Finally, Stevens Capital Management LP purchased a new stake in Raytheon in the 3rd quarter worth $24,642,000. 73.29% of the stock is owned by hedge funds and other institutional investors.
Shares of Raytheon (NYSE:RTN) opened at $204.52 on Friday. Raytheon has a one year low of $148.65 and a one year high of $213.45. The company has a current ratio of 1.54, a quick ratio of 1.46 and a debt-to-equity ratio of 0.48. The stock has a market cap of $60,840.00, a price-to-earnings ratio of 29.47, a price-to-earnings-growth ratio of 1.88 and a beta of 0.76.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Wednesday, January 3rd were paid a dividend of $0.7975 per share. The ex-dividend date of this dividend was Tuesday, January 2nd. This represents a $3.19 annualized dividend and a yield of 1.56%. Raytheon’s dividend payout ratio (DPR) is presently 45.97%.
Raytheon declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, November 15th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the aerospace company to buy shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.
Several brokerages recently commented on RTN. Sanford C. Bernstein reissued an “outperform” rating and issued a $199.00 price target (up previously from $188.00) on shares of Raytheon in a report on Monday, October 30th. They noted that the move was a valuation call. Wells Fargo & Co cut their price target 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. Buckingham Research boosted their price target on shares of Raytheon from $199.00 to $204.00 and gave the stock a “buy” rating in a report on Tuesday, October 31st. Stifel Nicolaus boosted their price target on shares of Raytheon from $185.00 to $195.00 and gave the stock a “hold” rating in a report on Friday, October 27th. Finally, Cowen reissued a “buy” rating and issued a $203.00 price target on shares of Raytheon in a report on Thursday, October 26th. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Raytheon currently has a consensus rating of “Buy” and an average target price of $210.77.
In other Raytheon news, VP Frank R. Jimenez sold 175 shares of Raytheon stock in a transaction on Friday, December 29th. The shares were sold at an average price of $189.13, for a total transaction of $33,097.75. Following the sale, the vice president now owns 28,311 shares of the company’s stock, valued at approximately $5,354,459.43. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Stephen J. Hadley sold 800 shares of Raytheon stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $190.27, for a total transaction of $152,216.00. Following the sale, the director now directly owns 11,360 shares in the company, valued at approximately $2,161,467.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,274 shares of company stock worth $1,486,162. 0.19% of the stock is currently owned by corporate 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.
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