Raytheon Company (RTN) is WINTON GROUP Ltd’s 8th Largest Position
WINTON GROUP Ltd decreased its position in Raytheon Company (NYSE:RTN) by 28.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 247,591 shares of the aerospace company’s stock after selling 99,958 shares during the period. Raytheon makes up approximately 1.5% of WINTON GROUP Ltd’s holdings, making the stock its 8th biggest position. WINTON GROUP Ltd owned 0.09% of Raytheon worth $46,196,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of RTN. BlackRock Inc. boosted its holdings in shares of Raytheon by 2,166.0% in the first quarter. BlackRock Inc. now owns 19,407,819 shares of the aerospace company’s stock valued at $2,959,694,000 after acquiring an additional 18,551,353 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Raytheon by 13,784.9% during the second quarter. Janus Henderson Group PLC now owns 1,494,150 shares of the aerospace company’s stock valued at $241,276,000 after purchasing an additional 1,483,389 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Raytheon by 55.2% during the second quarter. Alliancebernstein L.P. now owns 2,328,691 shares of the aerospace company’s stock valued at $376,037,000 after purchasing an additional 827,931 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in Raytheon by 42.7% during the second quarter. UBS Asset Management Americas Inc. now owns 1,826,164 shares of the aerospace company’s stock valued at $294,889,000 after purchasing an additional 546,398 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Raytheon by 66.5% during the first quarter. Renaissance Technologies LLC now owns 1,289,200 shares of the aerospace company’s stock valued at $196,603,000 after purchasing an additional 514,800 shares during the last quarter. Hedge funds and other institutional investors own 73.53% of the company’s stock.
Raytheon Company (NYSE RTN) traded down $1.35 during trading on Tuesday, reaching $185.54. 1,306,900 shares of the company’s stock traded hands, compared to its average volume of 1,474,299. The firm has a market cap of $53,590.00, a price-to-earnings ratio of 24.72, a PEG ratio of 2.54 and a beta of 0.58. The company has a current ratio of 1.66, a quick ratio of 1.55 and a debt-to-equity ratio of 0.44. Raytheon Company has a 1 year low of $137.70 and a 1 year high of $191.36.
Raytheon (NYSE:RTN) last announced its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.07. Raytheon had a net margin of 8.77% and a return on equity of 20.98%. The company had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.33 billion. During the same quarter in the prior year, the business posted $1.79 EPS. Raytheon’s quarterly revenue was up 4.5% on a year-over-year basis. research analysts expect that Raytheon Company will post 7.61 EPS for the current fiscal year.
Raytheon declared that its board has initiated a share repurchase plan on Wednesday, November 15th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 3rd will be paid a dividend of $0.7975 per share. The ex-dividend date is Tuesday, January 2nd. This represents a $3.19 annualized dividend and a dividend yield of 1.72%. Raytheon’s dividend payout ratio (DPR) is 42.93%.
In related news, VP Frank R. Jimenez sold 650 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $187.27, for a total value of $121,725.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen J. Hadley sold 800 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $190.27, for a total transaction of $152,216.00. Following the completion of the transaction, the director now owns 11,360 shares in the company, valued at $2,161,467.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,545 shares of company stock worth $291,955. 0.19% of the stock is currently owned by company insiders.
Several research firms recently commented on RTN. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $204.00 target price for the company in a research note on Thursday, September 14th. Sanford C. Bernstein reissued an “outperform” rating and set a $199.00 target price (up from $188.00) on shares of Raytheon in a research note on Monday, October 30th. They noted that the move was a valuation call. Vetr lowered shares of Raytheon from a “buy” rating to a “hold” rating and set a $187.08 target price for the company. in a research note on Tuesday, August 15th. Wells Fargo & Company reduced their price target on shares of Raytheon from $200.00 to $195.00 and set an “outperform” rating for the company in a research report on Friday, October 27th. Finally, Buckingham Research upped their price target on shares of Raytheon from $199.00 to $204.00 and gave the company a “buy” rating in a research report on Tuesday, October 31st. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $200.59.
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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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