Fishman Jay A Ltd. MI lifted its holdings in Raytheon Company (NYSE:RTN) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 95,517 shares of the aerospace company’s stock after acquiring an additional 1,125 shares during the period. Raytheon accounts for approximately 3.6% of Fishman Jay A Ltd. MI’s holdings, making the stock its 9th biggest holding. Fishman Jay A Ltd. MI’s holdings in Raytheon were worth $17,822,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. St. Johns Investment Management Company LLC purchased a new stake in Raytheon in the 2nd quarter worth about $113,000. Jacobi Capital Management LLC raised its position in Raytheon by 271.1% in the 1st quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock worth $114,000 after purchasing an additional 553 shares during the period. Tarbox Family Office Inc. raised its position in Raytheon by 1,666.7% in the 2nd quarter. Tarbox Family Office Inc. now owns 795 shares of the aerospace company’s stock worth $128,000 after purchasing an additional 750 shares during the period. Shine Investment Advisory Services Inc. purchased a new stake in Raytheon in the 2nd quarter worth about $139,000. Finally, CWM LLC raised its position in Raytheon by 7.4% in the 2nd quarter. CWM LLC now owns 916 shares of the aerospace company’s stock worth $148,000 after purchasing an additional 63 shares during the period. 74.24% of the stock is owned by hedge funds and other institutional investors.
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Raytheon Company (RTN) opened at $184.27 on Friday. The stock has a market cap of $52,859.56, a P/E ratio of 24.19, a P/E/G ratio of 2.48 and a beta of 0.57. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.55 and a current ratio of 1.66. Raytheon Company has a 1-year low of $137.70 and a 1-year high of $190.25.
Raytheon (NYSE:RTN) last issued its quarterly earnings data on Thursday, October 26th. The aerospace company reported $1.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.07. The company had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.33 billion. Raytheon had a net margin of 8.77% and a return on equity of 20.98%. Raytheon’s revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company posted $1.79 earnings per share. equities analysts predict that Raytheon Company will post 7.61 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 3rd will be issued a dividend of $0.7975 per share. This represents a $3.19 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Tuesday, January 2nd. Raytheon’s payout ratio is 42.88%.
Raytheon declared that its Board of Directors has initiated a stock buyback 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 an indication that the company’s leadership believes its stock is undervalued.
In related news, VP Taylor W. Lawrence sold 3,791 shares of Raytheon stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $182.09, for a total transaction of $690,303.19. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Frank R. Jimenez sold 500 shares of Raytheon stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $181.94, for a total transaction of $90,970.00. Following the transaction, the vice president now directly owns 29,292 shares in the company, valued at $5,329,386.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,941 shares of company stock worth $902,999. 0.19% of the stock is currently owned by corporate insiders.
A number of research firms recently weighed in on RTN. Royal Bank Of Canada set a $225.00 price objective on shares of Raytheon and gave the stock a “buy” rating in a research report on Thursday. Vetr lowered shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price objective on the stock. in a research report on Tuesday, August 15th. Stifel Nicolaus reissued a “buy” rating and issued a $185.00 price objective (up from $175.00) on shares of Raytheon in a research report on Sunday, July 30th. Sanford C. Bernstein reissued an “outperform” rating and issued a $183.00 price objective (up from $180.00) on shares of Raytheon in a research report on Sunday, July 30th. Finally, Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $205.00 price objective on the stock in a research report on Wednesday, September 20th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $200.18.
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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