Standard Life Aberdeen plc grew its stake in shares of Raytheon (NYSE:RTN) by 0.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,147,647 shares of the aerospace company’s stock after purchasing an additional 1,276 shares during the quarter. Standard Life Aberdeen plc’s holdings in Raytheon were worth $215,624,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Signature Estate & Investment Advisors LLC bought a new stake in shares of Raytheon during the third quarter valued at approximately $103,000. Stonehearth Capital Management LLC bought a new stake in shares of Raytheon during the fourth quarter valued at approximately $103,000. Rowland & Co. Investment Counsel ADV bought a new stake in shares of Raytheon during the fourth quarter valued at approximately $106,000. Global Trust Asset Management LLC bought a new stake in shares of Raytheon during the fourth quarter valued at approximately $136,000. Finally, Invictus RG bought a new stake in shares of Raytheon during the third quarter valued at approximately $152,000. Hedge funds and other institutional investors own 71.98% of the company’s stock.
In related news, Chairman Thomas A. Kennedy sold 44,778 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $215.90, for a total value of $9,667,570.20. Following the completion of the sale, the chairman now directly owns 138,339 shares of the company’s stock, valued at $29,867,390.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen J. Hadley sold 800 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $190.27, for a total transaction of $152,216.00. Following the completion of the sale, the director now directly owns 11,360 shares of the company’s stock, valued at $2,161,467.20. The disclosure for this sale can be found here. Insiders have sold 69,792 shares of company stock valued at $14,973,517 over the last three months. Insiders own 0.19% of the company’s stock.
Shares of Raytheon (RTN) traded up $0.79 on Wednesday, hitting $217.33. 84,463 shares of the stock were exchanged, compared to its average volume of 1,828,066. The stock has a market capitalization of $62,810.00, a price-to-earnings ratio of 31.26, a P/E/G ratio of 2.06 and a beta of 0.76. Raytheon has a 1 year low of $148.65 and a 1 year high of $218.78. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.54 and a quick ratio of 1.46.
Raytheon (NYSE:RTN) last issued its earnings results on Thursday, January 25th. The aerospace company reported $2.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.01. The firm had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.81 billion. Raytheon had a net margin of 7.98% and a return on equity of 21.36%. The business’s revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.84 earnings per share. equities analysts forecast that Raytheon will post 9.65 EPS for the current year.
Raytheon announced that its board has authorized a share buyback program on Wednesday, November 15th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
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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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