Raytheon Company (RTN) Stake Boosted by Stifel Financial Corp
Stifel Financial Corp lifted its position in shares of Raytheon Company (NYSE:RTN) by 2,385.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 488,766 shares of the aerospace company’s stock after purchasing an additional 469,103 shares during the quarter. Stifel Financial Corp owned 0.17% of Raytheon worth $90,995,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Signature Estate & Investment Advisors LLC bought a new stake in Raytheon in the 3rd quarter valued at $103,000. St. Johns Investment Management Company LLC bought a new stake in Raytheon in the 2nd quarter valued at $113,000. Jacobi Capital Management LLC lifted its position in Raytheon by 271.1% in the 1st quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock valued at $114,000 after acquiring an additional 553 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new stake in Raytheon in the 2nd quarter valued at $139,000. Finally, Oakworth Capital Inc. lifted its position in Raytheon by 34.9% in the 2nd quarter. Oakworth Capital Inc. now owns 985 shares of the aerospace company’s stock valued at $159,000 after acquiring an additional 255 shares in the last quarter. 73.53% of the stock is currently owned by institutional investors.
Several research firms recently commented on RTN. Robert W. Baird reaffirmed a “buy” rating and issued a $212.00 price objective on shares of Raytheon in a research report on Tuesday, October 24th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $209.00 price objective on shares of Raytheon in a research report on Tuesday, October 10th. Citigroup reissued a “buy” rating and set a $215.00 price target (up from $192.00) on shares of Raytheon in a research report on Monday, October 9th. ValuEngine cut shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, Cowen reissued a “buy” rating and set a $203.00 price target on shares of Raytheon in a research report on Thursday, October 19th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $200.59.
In other news, VP Frank R. Jimenez sold 650 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $187.27, for a total transaction of $121,725.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Stephen J. Hadley sold 800 shares of the business’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 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. Insiders have sold a total of 1,545 shares of company stock worth $291,955 over the last 90 days. 0.19% of the stock is owned by company insiders.
Shares of Raytheon Company (NYSE RTN) traded up $0.94 during trading hours on Friday, reaching $186.14. 1,210,400 shares of the company’s stock traded hands, compared to its average volume of 1,471,322. The company has a quick ratio of 1.55, a current ratio of 1.66 and a debt-to-equity ratio of 0.44. Raytheon Company has a 52-week low of $137.70 and a 52-week high of $191.36. The company has a market cap of $53,538.91, a PE ratio of 24.50, a PEG ratio of 2.52 and a beta of 0.58.
Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, October 26th. The aerospace company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.07. The company had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.33 billion. Raytheon had a net margin of 8.77% and a return on equity of 20.98%. Raytheon’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.79 EPS. research analysts expect that Raytheon Company will post 7.61 EPS for the current year.
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 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 1.71%. Raytheon’s dividend payout ratio is presently 42.88%.
Raytheon declared that its board has authorized a stock repurchase program on Wednesday, November 15th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the aerospace company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign 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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