Raytheon Company (RTN) Stake Raised by First Republic Investment Management Inc.
First Republic Investment Management Inc. increased its position in Raytheon Company (NYSE:RTN) by 1.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 151,104 shares of the aerospace company’s stock after acquiring an additional 2,307 shares during the quarter. First Republic Investment Management Inc. owned about 0.05% of Raytheon worth $28,193,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Raytheon by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 22,278,418 shares of the aerospace company’s stock valued at $3,597,519,000 after buying an additional 367,898 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Raytheon by 2.7% during the second 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 in the last quarter. Clearbridge Investments LLC grew its holdings in shares of Raytheon by 0.7% during the first quarter. Clearbridge Investments LLC now owns 3,527,842 shares of the aerospace company’s stock worth $537,996,000 after purchasing an additional 23,172 shares in the last quarter. Boston Partners grew its holdings in shares of Raytheon by 3.3% during the second quarter. Boston Partners now owns 3,374,514 shares of the aerospace company’s stock worth $544,916,000 after purchasing an additional 106,788 shares in the last quarter. Finally, Pioneer Investment Management Inc. grew its holdings in shares of Raytheon by 5.6% during the second quarter. Pioneer Investment Management Inc. now owns 3,123,802 shares of the aerospace company’s stock worth $504,431,000 after purchasing an additional 165,905 shares in the last quarter. 73.53% of the stock is owned by institutional investors.
Several research analysts have recently commented on RTN shares. Royal Bank Of Canada set a $193.00 price objective on Raytheon and gave the stock a “buy” rating in a report on Monday, August 28th. BidaskClub lowered Raytheon from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 19th. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $204.00 price objective for the company in a report on Thursday, September 14th. ValuEngine raised Raytheon from a “hold” rating to a “buy” rating in a report on Monday, September 11th. Finally, Jefferies Group reissued a “buy” rating and set a $190.00 price objective on shares of Raytheon in a report on Friday, September 29th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Raytheon has a consensus rating of “Buy” and a consensus price target of $200.59.
In related news, VP Frank R. Jimenez sold 650 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $187.27, for a total value of $121,725.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen J. Hadley sold 800 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was 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 directly owns 11,360 shares in the company, valued at $2,161,467.20. The disclosure for this sale can be found here. Insiders have sold 1,545 shares of company stock worth $291,955 over the last three months. Insiders own 0.19% of the company’s stock.
Raytheon Company (NYSE:RTN) traded up $1.93 on Friday, hitting $188.07. The stock had a trading volume of 813,276 shares, compared to its average volume of 1,239,527. 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 $191.36. The stock has a market capitalization of $54,368.59, a PE ratio of 24.88, a PEG ratio of 2.56 and a beta of 0.58.
Raytheon (NYSE:RTN) last posted its earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.07. Raytheon had a return on equity of 20.98% and a net margin of 8.77%. 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 earned $1.79 earnings per share. The business’s revenue was up 4.5% compared to the same quarter last year. analysts forecast that Raytheon Company will post 7.61 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 3rd will be paid a dividend of $0.7975 per share. The ex-dividend date is Tuesday, January 2nd. This represents a $3.19 annualized dividend and a dividend yield of 1.70%. Raytheon’s dividend payout ratio (DPR) is presently 42.88%.
Raytheon announced that its Board of Directors has authorized a stock buyback program 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 programs are usually an indication that the company’s leadership believes its shares are undervalued.
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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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