Uncommon Cents Investing LLC acquired a new position in Raytheon (NYSE:RTN) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 32,502 shares of the aerospace company’s stock, valued at approximately $6,791,000. Raytheon accounts for 4.5% of Uncommon Cents Investing LLC’s holdings, making the stock its 6th largest position.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Signature Estate & Investment Advisors LLC purchased a new position in shares of Raytheon in the third quarter worth about $103,000. Stonehearth Capital Management LLC purchased a new position in Raytheon during the 4th quarter valued at about $103,000. Rowland & Co. Investment Counsel ADV purchased a new position in Raytheon during the 4th quarter valued at about $106,000. Global Trust Asset Management LLC purchased a new position in Raytheon during the 4th quarter valued at about $136,000. Finally, Invictus RG purchased a new position in Raytheon during the 3rd quarter valued at about $152,000. Hedge funds and other institutional investors own 72.66% of the company’s stock.
Raytheon (NYSE RTN) opened at $217.73 on Friday. Raytheon has a twelve month low of $148.65 and a twelve month high of $218.78. The company has a current ratio of 1.54, a quick ratio of 1.46 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $62,816.41, a P/E ratio of 31.33, a price-to-earnings-growth ratio of 2.06 and a beta of 0.77.
Raytheon announced that its Board of Directors has approved a share repurchase program on Wednesday, November 15th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
In other Raytheon news, VP Taylor W. Lawrence sold 12,951 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $215.89, for a total transaction of $2,795,991.39. Following the transaction, the vice president now owns 41,108 shares in the company, valued at approximately $8,874,806.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Thomas A. Kennedy sold 44,778 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $215.90, for a total value of $9,667,570.20. Following the transaction, the chairman now owns 138,339 shares in the company, valued at approximately $29,867,390.10. The disclosure for this sale can be found here. Insiders have sold a total of 69,792 shares of company stock worth $14,973,517 in the last quarter. Company insiders own 0.19% of the company’s stock.
RTN has been the topic of a number of research analyst reports. Buckingham Research boosted their price target on Raytheon from $199.00 to $204.00 and gave the company a “buy” rating in a report on Tuesday, October 31st. Robert W. Baird restated a “buy” rating and set a $212.00 price target on shares of Raytheon in a report on Tuesday, October 24th. Cowen restated a “buy” rating and set a $203.00 price target on shares of Raytheon in a report on Thursday, October 26th. Wells Fargo & Co reduced their price target on Raytheon from $200.00 to $195.00 and set an “outperform” rating on the stock in a report on Friday, October 27th. Finally, Stifel Nicolaus restated a “buy” rating and set a $210.00 price target on shares of Raytheon in a report on Tuesday, January 9th. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Raytheon presently has an average rating of “Buy” and an average price target of $210.77.
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.
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