Whittier Trust Co. boosted its stake in Raytheon (NYSE:RTN) by 5.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 14,049 shares of the aerospace company’s stock after buying an additional 680 shares during the quarter. Whittier Trust Co.’s holdings in Raytheon were worth $2,639,000 as of its most recent SEC filing.

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

Several analysts have commented on the stock. Sanford C. Bernstein restated an “outperform” rating and issued a $199.00 price objective (up from $188.00) on shares of Raytheon in a report on Monday, October 30th. They noted that the move was a valuation call. Wells Fargo & Co lowered their price objective on shares of Raytheon from $200.00 to $195.00 and set an “outperform” rating for the company in a report on Friday, October 27th. Buckingham Research raised their target price on shares of Raytheon from $199.00 to $204.00 and gave the company a “buy” rating in a research note on Tuesday, October 31st. Stifel Nicolaus raised their target price on shares of Raytheon from $185.00 to $195.00 and gave the company a “hold” rating in a research note on Friday, October 27th. Finally, Cowen reaffirmed a “buy” rating and set a $203.00 target price on shares of Raytheon in a research note on Thursday, October 26th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Raytheon has a consensus rating of “Buy” and a consensus target price of $210.77.

Raytheon (RTN) opened at $208.74 on Tuesday. Raytheon has a one year low of $148.65 and a one year high of $213.45. The firm has a market cap of $59,124.07, a P/E ratio of 29.86, a price-to-earnings-growth ratio of 1.94 and a beta of 0.76. The company has a current ratio of 1.54, a quick ratio of 1.46 and a debt-to-equity ratio of 0.48.

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

The company also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 3rd were given a dividend of $0.7975 per share. This represents a $3.19 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Tuesday, January 2nd. Raytheon’s dividend payout ratio (DPR) is currently 45.90%.

Raytheon announced that its Board of Directors has authorized a stock buyback plan on Wednesday, November 15th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the aerospace company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

In related news, Director Letitia A. Long sold 650 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $185.83, for a total transaction of $120,789.50. Following the completion of the sale, the director now owns 2,273 shares of the company’s stock, valued at $422,391.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Frank R. Jimenez sold 175 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $189.13, for a total transaction of $33,097.75. The disclosure for this sale can be found here. Insiders have sold 8,074 shares of company stock valued at $1,648,810 in the last three months. 0.19% of the stock is owned by insiders.

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About Raytheon

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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