Miles Capital Inc. decreased its holdings in Raytheon (NYSE:RTN) by 2.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,879 shares of the aerospace company’s stock after selling 58 shares during the period. Miles Capital Inc.’s holdings in Raytheon were worth $633,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of RTN. Nuveen Asset Management LLC lifted its stake in shares of Raytheon by 11,865.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,593,864 shares of the aerospace company’s stock worth $277,141,000 after purchasing an additional 1,580,544 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Raytheon by 16.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,509,939 shares of the aerospace company’s stock worth $262,548,000 after purchasing an additional 212,361 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in Raytheon by 0.7% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,199,105 shares of the aerospace company’s stock worth $235,252,000 after purchasing an additional 8,539 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Raytheon by 1.0% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,193,257 shares of the aerospace company’s stock valued at $234,105,000 after purchasing an additional 11,482 shares in the last quarter. Finally, Johanson Financial Advisors Inc. increased its stake in Raytheon by 21,333.2% during the 4th quarter. Johanson Financial Advisors Inc. now owns 836,539 shares of the aerospace company’s stock valued at $3,807,000 after purchasing an additional 832,636 shares in the last quarter. Institutional investors own 74.45% of the company’s stock.
RTN traded down $0.12 during mid-day trading on Tuesday, hitting $231.22. 31,115 shares of the stock were exchanged, compared to its average volume of 1,152,747. The firm’s fifty day moving average is $221.85 and its two-hundred day moving average is $201.72. Raytheon has a 1-year low of $162.67 and a 1-year high of $233.48. The company has a market cap of $64.42 billion, a PE ratio of 19.76, a PEG ratio of 1.68 and a beta of 0.88. The company has a current ratio of 1.54, a quick ratio of 1.44 and a debt-to-equity ratio of 0.38.
Raytheon (NYSE:RTN) last released its earnings results on Thursday, October 24th. The aerospace company reported $3.08 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.22. The company had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.29 billion. Raytheon had a return on equity of 27.23% and a net margin of 11.47%. Raytheon’s revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.25 EPS. As a group, research analysts anticipate that Raytheon will post 11.88 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Wednesday, January 8th will be paid a $0.9425 dividend. This represents a $3.77 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Tuesday, January 7th. Raytheon’s payout ratio is 35.53%.
Several research firms have recently commented on RTN. Credit Suisse Group lifted their price objective on shares of Raytheon from $230.00 to $235.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Cowen reissued a “buy” rating and issued a $225.00 target price on shares of Raytheon in a research report on Thursday, October 24th. UBS Group upped their target price on Raytheon from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Wednesday, January 15th. Wolfe Research set a $221.00 target price on Raytheon and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, ValuEngine cut Raytheon from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $221.80.
In other Raytheon news, Director Tracy A. Atkinson sold 500 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $215.48, for a total transaction of $107,740.00. Following the sale, the director now owns 4,376 shares in the company, valued at approximately $942,940.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stephen J. Hadley sold 1,900 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $232.00, for a total value of $440,800.00. Following the sale, the director now owns 8,750 shares in the company, valued at approximately $2,030,000. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.
Raytheon Company develops integrated products, services, and solutions for the defense and other government markets worldwide. It operates through five segments: Integrated Defense Systems (IDS); Intelligence, Information and Services (IIS); Missile Systems (MS); Space and Airborne Systems (SAS); and Forcepoint.
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