Nisa Investment Advisors LLC trimmed its position in Raytheon (NYSE:RTN) by 1.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 108,045 shares of the aerospace company’s stock after selling 1,400 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Raytheon were worth $20,290,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of RTN. Janus Henderson Group PLC lifted its holdings in shares of Raytheon by 13,784.9% in the 2nd quarter. Janus Henderson Group PLC now owns 1,494,150 shares of the aerospace company’s stock worth $241,276,000 after buying an additional 1,483,389 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Raytheon by 55.2% in the 2nd quarter. Alliancebernstein L.P. now owns 2,328,691 shares of the aerospace company’s stock worth $376,037,000 after buying an additional 827,931 shares during the period. UBS Asset Management Americas Inc. lifted its stake in shares of Raytheon by 42.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,826,164 shares of the aerospace company’s stock worth $294,889,000 after purchasing an additional 546,398 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Raytheon by 2.7% during the 2nd quarter. BlackRock Inc. now owns 19,934,958 shares of the aerospace company’s stock worth $3,219,097,000 after purchasing an additional 527,139 shares during the last quarter. Finally, Stifel Financial Corp lifted its stake in shares of Raytheon by 2,385.7% during the 3rd quarter. Stifel Financial Corp now owns 488,766 shares of the aerospace company’s stock worth $90,995,000 after purchasing an additional 469,103 shares during the last quarter. Institutional investors and hedge funds own 73.12% of the company’s stock.

Shares of Raytheon (NYSE RTN) opened at $197.46 on Friday. 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 has a 12 month low of $141.28 and a 12 month high of $198.07. The company has a market capitalization of $57,080.00, a PE ratio of 26.58, a price-to-earnings-growth ratio of 2.67 and a beta of 0.58.

Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.07. Raytheon had a return on equity of 20.98% and a net margin of 8.77%. The company had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.33 billion. During the same period last year, the business posted $1.79 earnings per share. The firm’s revenue was up 4.5% compared to the same quarter last year. equities research analysts predict that Raytheon 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 paid a $0.7975 dividend. This represents a $3.19 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Tuesday, January 2nd. Raytheon’s dividend payout ratio (DPR) is presently 42.93%.

Raytheon declared that its Board of Directors has authorized a share 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 repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

A number of equities research analysts recently weighed in on RTN shares. Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $205.00 price objective for the company in a research note on Wednesday, September 20th. Jefferies Group restated a “buy” rating and set a $190.00 price objective on shares of Raytheon in a research note on Friday, September 29th. Deutsche Bank upgraded Raytheon from a “hold” rating to a “buy” rating and upped their price objective for the stock from $180.00 to $210.00 in a research note on Friday, September 29th. Cowen restated a “buy” rating and set a $203.00 price objective on shares of Raytheon in a research note on Thursday, October 26th. Finally, Robert W. Baird restated a “buy” rating and set a $212.00 price objective on shares of Raytheon in a research note on Tuesday, October 24th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $203.36.

In other Raytheon news, VP Frank R. Jimenez sold 175 shares of the stock in a transaction dated Saturday, December 29th. The stock was sold at an average price of $189.13, for a total value of $33,097.75. Following the completion of the sale, the vice president now directly owns 28,311 shares in the company, valued at $5,354,459.43. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Stephen J. Hadley sold 800 shares of the stock in a transaction dated 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 sale, the director now owns 11,360 shares of the company’s stock, valued at $2,161,467.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,895 shares of company stock valued at $357,215. 0.19% of the stock is currently owned by company insiders.

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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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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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