MetLife Investment Advisors LLC acquired a new stake in shares of Raytheon (NYSE:RTN) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 89,446 shares of the aerospace company’s stock, valued at approximately $16,802,000.
Several other institutional investors and hedge funds have also modified their holdings of the company. Fort Point Capital Partners LLC increased its position in shares of Raytheon by 20.6% in the 4th quarter. Fort Point Capital Partners LLC now owns 1,369 shares of the aerospace company’s stock valued at $257,000 after acquiring an additional 234 shares during the period. Gotham Asset Management LLC acquired a new position in shares of Raytheon in the 4th quarter valued at $529,000. Jump Trading LLC acquired a new position in shares of Raytheon in the 4th quarter valued at $433,000. HBK Sorce Advisory LLC increased its position in shares of Raytheon by 48.7% in the 4th quarter. HBK Sorce Advisory LLC now owns 5,347 shares of the aerospace company’s stock valued at $1,005,000 after acquiring an additional 1,750 shares during the period. Finally, Financial Advocates Investment Management acquired a new position in shares of Raytheon in the 4th quarter valued at $217,000. Hedge funds and other institutional investors own 73.40% of the company’s stock.
Shares of Raytheon (NYSE:RTN) opened at $210.75 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.46 and a current ratio of 1.54. Raytheon has a 12-month low of $148.65 and a 12-month high of $222.82. The firm has a market capitalization of $60,609.34, a PE ratio of 30.32, a price-to-earnings-growth ratio of 1.99 and a beta of 0.71.
In other news, CFO Anthony F. O’brien sold 10,503 shares of the stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $214.17, for a total transaction of $2,249,427.51. Following the sale, the chief financial officer now directly owns 35,328 shares of the company’s stock, valued at approximately $7,566,197.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Frank R. Jimenez sold 175 shares of the stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $189.13, for a total transaction of $33,097.75. Following the sale, the vice president now directly owns 28,311 shares in the company, valued at $5,354,459.43. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,400 shares of company stock worth $17,052,714. Corporate insiders own 0.19% of the company’s stock.
RTN has been the topic of several research reports. Wells Fargo reissued an “outperform” rating and issued a $202.00 target price (up from $195.00) on shares of Raytheon in a research report on Tuesday, November 28th. JPMorgan Chase & Co. downgraded Raytheon from an “overweight” rating to a “neutral” rating and upped their target price for the company from $190.00 to $210.00 in a research report on Tuesday, December 12th. ValuEngine raised Raytheon from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Stifel Nicolaus reaffirmed a “buy” rating and set a $210.00 price target on shares of Raytheon in a research report on Tuesday, January 9th. Finally, Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $217.00 price target on the stock in a research report on Friday, January 12th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $214.12.
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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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