Cetera Investment Advisers decreased its position in Raytheon Company (NYSE:RTN) by 72.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,160 shares of the aerospace company’s stock after selling 3,023 shares during the period. Cetera Investment Advisers’ holdings in Raytheon were worth $215,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Cetera Advisors LLC grew its holdings in shares of Raytheon by 36.8% in the 3rd quarter. Cetera Advisors LLC now owns 5,724 shares of the aerospace company’s stock valued at $1,068,000 after buying an additional 1,541 shares during the period. IFM Investors Pty Ltd acquired a new position in shares of Raytheon in the 3rd quarter valued at $1,540,000. Independent Advisor Alliance grew its holdings in shares of Raytheon by 151.1% in the 3rd quarter. Independent Advisor Alliance now owns 4,289 shares of the aerospace company’s stock valued at $806,000 after buying an additional 2,581 shares during the period. Insight Capital Research & Management Inc. acquired a new position in shares of Raytheon in the 3rd quarter valued at $3,918,000. Finally, Piedmont Investment Advisors LLC grew its holdings in shares of Raytheon by 0.9% in the 3rd quarter. Piedmont Investment Advisors LLC now owns 62,817 shares of the aerospace company’s stock valued at $11,720,000 after buying an additional 577 shares during the period. 73.53% of the stock is owned by institutional investors.

Shares of Raytheon Company (RTN) traded up $0.13 during trading hours on Friday, reaching $188.78. 1,005,200 shares of the company’s stock traded hands, compared to its average volume of 1,460,844. 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 $141.16 and a 52-week high of $191.36. The company has a market cap of $54,536.26, a PE ratio of 24.95, a PEG ratio of 2.56 and a beta of 0.58.

Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.97 EPS for the quarter, topping the 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 firm had revenue of $6.28 billion for the quarter, compared to analysts’ expectations of $6.33 billion. During the same period in the previous year, the firm posted $1.79 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. research analysts expect that Raytheon Company will post 7.61 EPS for the current year.

Raytheon announced that its Board of Directors has approved a stock repurchase program on Wednesday, November 15th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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 annualized dividend and a yield of 1.69%. Raytheon’s dividend payout ratio (DPR) is presently 42.88%.

In other Raytheon news, Director Stephen J. Hadley sold 800 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were 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 of the company’s stock, valued at approximately $2,161,467.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Frank R. Jimenez sold 650 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $187.27, for a total transaction of $121,725.50. The disclosure for this sale can be found here. Insiders have sold a total of 1,545 shares of company stock worth $291,955 over the last three months. Insiders own 0.19% of the company’s stock.

RTN has been the subject of a number of research analyst reports. J P Morgan Chase & Co lowered shares of Raytheon from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $190.00 to $210.00 in a research note on Tuesday. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $202.00 target price (up from $195.00) on shares of Raytheon in a research note on Tuesday, November 28th. Royal Bank of Canada set a $225.00 target price on shares of Raytheon and gave the stock a “buy” rating in a research note on Thursday, November 16th. Buckingham Research upped their target price on shares of Raytheon from $199.00 to $204.00 and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Finally, Zacks Investment Research lowered shares of Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $201.77.

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Raytheon 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.

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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