Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Raytheon (NYSE:RTN) by 3.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 44,865 shares of the aerospace company’s stock after purchasing an additional 1,363 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Raytheon were worth $8,448,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. OxFORD Asset Management LLP boosted its position in Raytheon by 238.8% in the second quarter. OxFORD Asset Management LLP now owns 51,452 shares of the aerospace company’s stock valued at $8,308,000 after buying an additional 36,265 shares in the last quarter. Investment Centers of America Inc. boosted its position in Raytheon by 26.8% in the third quarter. Investment Centers of America Inc. now owns 2,635 shares of the aerospace company’s stock valued at $492,000 after buying an additional 557 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Raytheon by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 798,986 shares of the aerospace company’s stock valued at $129,017,000 after buying an additional 2,849 shares in the last quarter. Boulegeris Investments Inc. boosted its position in Raytheon by 32.5% in the third quarter. Boulegeris Investments Inc. now owns 11,550 shares of the aerospace company’s stock valued at $2,155,000 after buying an additional 2,835 shares in the last quarter. Finally, Stevens Capital Management LP acquired a new position in Raytheon in the third quarter valued at about $24,642,000. Hedge funds and other institutional investors own 73.29% of the company’s stock.

Shares of Raytheon (RTN) opened at $204.32 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.46 and a current ratio of 1.54. The firm has a market cap of $58,144.07, a P/E ratio of 29.40, a P/E/G ratio of 1.91 and a beta of 0.76. Raytheon has a 12 month low of $147.86 and a 12 month high of $213.45.

Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, January 25th. The aerospace company reported $2.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.01. The business had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.81 billion. Raytheon had a net margin of 7.98% and a return on equity of 21.36%. Raytheon’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.84 earnings per share. analysts predict that Raytheon will post 9.65 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 3rd were paid a dividend of $0.7975 per share. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Tuesday, January 2nd. Raytheon’s dividend payout ratio (DPR) is 45.90%.

Raytheon announced that its board has authorized a share buyback program on Wednesday, November 15th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the aerospace company to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

A number of equities analysts have commented on the stock. Sanford C. Bernstein boosted their price target on shares of Raytheon from $231.00 to $255.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Cowen restated a “buy” rating and issued a $215.00 price target on shares of Raytheon in a research report on Wednesday, January 31st. Robert W. Baird restated a “buy” rating and issued a $237.00 price target on shares of Raytheon in a research report on Friday, January 26th. Stifel Nicolaus boosted their price target on shares of Raytheon from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Finally, Royal Bank of Canada set a $235.00 target price on shares of Raytheon and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $210.77.

In related news, Director Stephen J. Hadley sold 800 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $190.27, for a total transaction of $152,216.00. Following the completion of the sale, the director now directly owns 11,360 shares of the company’s stock, valued at $2,161,467.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Frank R. Jimenez sold 3,405 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $210.93, for a total transaction of $718,216.65. Following the sale, the vice president now directly owns 25,342 shares of the company’s stock, valued at $5,345,388.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,274 shares of company stock valued at $1,486,162. 0.19% of the stock is currently owned by insiders.

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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.

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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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