Prudential Financial Inc. lifted its holdings in shares of Raytheon Company (NYSE:RTN) by 13.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 469,549 shares of the aerospace company’s stock after acquiring an additional 54,790 shares during the quarter. Prudential Financial Inc. owned approximately 0.16% of Raytheon worth $87,608,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. St. Johns Investment Management Company LLC bought a new position in shares of Raytheon during the second quarter valued at approximately $113,000. Jacobi Capital Management LLC raised its holdings in shares of Raytheon by 271.1% during the first quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock valued at $114,000 after acquiring an additional 553 shares in the last quarter. Tarbox Family Office Inc. raised its holdings in shares of Raytheon by 1,666.7% during the second quarter. Tarbox Family Office Inc. now owns 795 shares of the aerospace company’s stock valued at $128,000 after acquiring an additional 750 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new position in shares of Raytheon during the second quarter valued at approximately $139,000. Finally, Orrstown Financial Services Inc. raised its holdings in shares of Raytheon by 20.9% during the second quarter. Orrstown Financial Services Inc. now owns 918 shares of the aerospace company’s stock valued at $148,000 after acquiring an additional 159 shares in the last quarter. Institutional investors own 74.24% of the company’s stock.
In other news, VP Frank R. Jimenez sold 500 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $181.94, for a total value of $90,970.00. Following the sale, the vice president now directly owns 29,292 shares of the company’s stock, valued at $5,329,386.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Frank R. Jimenez sold 650 shares of the 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 disclosure for this sale can be found here. Over the last three months, insiders sold 4,941 shares of company stock worth $902,999. Insiders own 0.19% of the company’s stock.
A number of equities analysts recently commented on the company. Robert W. Baird restated a “buy” rating and set a $212.00 target price on shares of Raytheon in a report on Tuesday, October 24th. Royal Bank Of Canada restated a “buy” rating and set a $209.00 target price on shares of Raytheon in a report on Tuesday, October 10th. Citigroup Inc. restated a “buy” rating and set a $215.00 target price (up previously from $192.00) on shares of Raytheon in a report on Monday, October 9th. ValuEngine downgraded Raytheon from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Cowen and Company restated a “buy” rating and set a $203.00 target price on shares of Raytheon in a report on Thursday, October 19th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $200.18.
Shares of Raytheon Company (RTN) opened at $182.85 on Friday. Raytheon Company has a 12 month low of $137.70 and a 12 month high of $190.25. The company has a market capitalization of $53,270.00, a price-to-earnings ratio of 24.33, a PEG ratio of 2.50 and a beta of 0.57. 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 (NYSE:RTN) last released its earnings results on Thursday, October 26th. The aerospace company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates 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 prior year, the firm posted $1.79 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. equities research analysts anticipate that Raytheon Company will post 7.61 EPS for the current year.
Raytheon announced that its board has approved a stock repurchase plan on Wednesday, November 15th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the aerospace company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The business 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 $0.7975 dividend. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.74%. Raytheon’s dividend payout ratio is currently 42.93%.
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.
Want to see what other hedge funds are holding RTN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raytheon Company (NYSE:RTN).
Receive News & Ratings for Raytheon Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon Company and related companies with MarketBeat.com's FREE daily email newsletter.