Teacher Retirement System of Texas boosted its stake in shares of Raytheon (NYSE:RTN) by 89.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 79,421 shares of the aerospace company’s stock after purchasing an additional 37,529 shares during the quarter. Teacher Retirement System of Texas’ holdings in Raytheon were worth $14,919,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Signature Estate & Investment Advisors LLC bought a new position in Raytheon during the third quarter valued at approximately $103,000. Stonehearth Capital Management LLC bought a new position in Raytheon during the fourth quarter valued at approximately $103,000. Rowland & Co. Investment Counsel ADV bought a new position in Raytheon during the fourth quarter valued at approximately $106,000. Global Trust Asset Management LLC bought a new position in Raytheon during the fourth quarter valued at approximately $136,000. Finally, Invictus RG bought a new position in Raytheon during the third quarter valued at approximately $152,000. Institutional investors own 72.66% of the company’s stock.

A number of research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Stifel Nicolaus increased their price objective 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. Cowen reaffirmed a “buy” rating and set a $215.00 target price on shares of Raytheon in a report on Thursday, January 25th. Robert W. Baird reaffirmed a “buy” rating and set a $237.00 target price on shares of Raytheon in a report on Friday, January 26th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Raytheon from $194.00 to $190.00 and set an “overweight” rating for the company in a report on Monday, October 30th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $210.77.

In other news, VP Frank R. Jimenez sold 175 shares of the stock in a transaction on Friday, December 29th. The shares were sold at an average price of $189.13, for a total value of $33,097.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen J. Hadley sold 800 shares of the 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 completion of the sale, the director now directly 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 three months, insiders sold 7,274 shares of company stock valued at $1,486,162. Corporate insiders own 0.19% of the company’s stock.

Shares of Raytheon (NYSE:RTN) opened at $204.52 on Monday. 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 company has a market cap of $59,124.07, a P/E ratio of 26.53, a price-to-earnings-growth ratio of 1.94 and a beta of 0.76. Raytheon has a twelve month low of $148.65 and a twelve month high of $213.45.

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

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

Raytheon declared that its board has authorized a stock buyback plan on Wednesday, November 15th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is 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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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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