Coldstream Capital Management Inc. Sells 13,232 Shares of Raytheon Company (RTN)

Coldstream Capital Management Inc. reduced its stake in shares of Raytheon Company (NYSE:RTN) by 89.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,609 shares of the aerospace company’s stock after selling 13,232 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Raytheon were worth $300,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of RTN. Signature Estate & Investment Advisors LLC bought a new position in Raytheon during the 3rd quarter worth $103,000. St. Johns Investment Management Company LLC bought a new position in shares of Raytheon in the second quarter worth $113,000. Jacobi Capital Management LLC grew its stake in shares of Raytheon by 271.1% in the first quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock worth $114,000 after purchasing an additional 553 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new position in shares of Raytheon in the second quarter worth $139,000. Finally, Invictus RG bought a new position in shares of Raytheon in the third quarter worth $152,000. Hedge funds and other institutional investors own 73.53% of the company’s stock.

In other news, VP Frank R. Jimenez sold 650 shares of the company’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen J. Hadley sold 800 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $190.27, for a total value of $152,216.00. Following the completion of the sale, the director now owns 11,360 shares of the company’s stock, valued at approximately $2,161,467.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,545 shares of company stock valued at $291,955. Insiders own 0.19% of the company’s stock.

Several research analysts have recently issued reports on RTN shares. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $204.00 price target for the company in a research note on Thursday, September 14th. ValuEngine raised Raytheon from a “hold” rating to a “buy” rating in a research note on Monday, September 11th. Royal Bank of Canada set a $193.00 price target on Raytheon and gave the stock a “buy” rating in a research note on Monday, August 28th. Citigroup reissued a “buy” rating and issued a $215.00 price target (up previously from $192.00) on shares of Raytheon in a research note on Monday, October 9th. Finally, Bank of America set a $220.00 price target on Raytheon and gave the stock a “buy” rating in a research note on Friday, October 27th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $201.77.

Shares of Raytheon Company (RTN) traded down $0.19 during trading on Wednesday, hitting $186.89. The stock had a trading volume of 1,058,700 shares, compared to its average volume of 1,464,487. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.55 and a current ratio of 1.66. The firm has a market capitalization of $54,082.40, a price-to-earnings ratio of 24.75, a price-to-earnings-growth ratio of 2.54 and a beta of 0.58. Raytheon Company has a twelve month low of $141.16 and a twelve month high of $191.36.

Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, October 26th. The aerospace company reported $1.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.07. The business had revenue of $6.28 billion during the quarter, compared to analyst estimates of $6.33 billion. Raytheon had a return on equity of 20.98% and a net margin of 8.77%. The company’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.79 earnings per share. equities research analysts expect that Raytheon Company will post 7.61 EPS for the current year.

Raytheon announced that its Board of Directors has approved a stock repurchase plan on Wednesday, November 15th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the aerospace company to repurchase 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.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 3rd will be issued a $0.7975 dividend. The ex-dividend date is Tuesday, January 2nd. This represents a $3.19 annualized dividend and a dividend yield of 1.71%. Raytheon’s dividend payout ratio (DPR) is 42.88%.

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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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