Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Raytheon Company (NYSE:RTN) by 5.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,369 shares of the aerospace company’s stock after acquiring an additional 6,338 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in Raytheon were worth $24,889,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in RTN. Ironwood Investment Management LLC increased its stake in shares of Raytheon by 0.7% in the second quarter. Ironwood Investment Management LLC now owns 2,475 shares of the aerospace company’s stock valued at $400,000 after buying an additional 16 shares in the last quarter. Pineno Levin & Ford Asset Management Inc. increased its stake in shares of Raytheon by 0.8% in the second quarter. Pineno Levin & Ford Asset Management Inc. now owns 1,903 shares of the aerospace company’s stock valued at $307,000 after buying an additional 16 shares in the last quarter. TCI Wealth Advisors Inc. increased its stake in shares of Raytheon by 0.8% in the second quarter. TCI Wealth Advisors Inc. now owns 2,048 shares of the aerospace company’s stock valued at $331,000 after buying an additional 17 shares in the last quarter. Park National Corp OH increased its stake in shares of Raytheon by 1.0% in the second quarter. Park National Corp OH now owns 1,769 shares of the aerospace company’s stock valued at $286,000 after buying an additional 18 shares in the last quarter. Finally, Capital Management Associates NY increased its stake in shares of Raytheon by 1.0% in the second quarter. Capital Management Associates NY now owns 3,080 shares of the aerospace company’s stock valued at $497,000 after buying an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 73.53% of the company’s stock.

Raytheon Company (NYSE:RTN) traded down $0.99 during trading on Tuesday, reaching $187.08. The company had a trading volume of 880,700 shares, compared to its average volume of 1,466,192. The company has a market capitalization of $54,368.59, a PE ratio of 24.88, a price-to-earnings-growth ratio of 2.56 and a beta of 0.58. Raytheon Company has a fifty-two week low of $137.70 and a fifty-two week high of $191.36. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.55 and a current ratio of 1.66.

Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.07. The business had revenue of $6.28 billion for the quarter, compared to analysts’ expectations of $6.33 billion. Raytheon had a return on equity of 20.98% and a net margin of 8.77%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.79 earnings per share. research analysts predict that Raytheon Company will post 7.61 earnings per share for the current fiscal year.

Raytheon declared that its Board of Directors has initiated a share buyback program on Wednesday, November 15th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 3rd will be issued a dividend of $0.7975 per share. This represents a $3.19 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Tuesday, January 2nd. Raytheon’s dividend payout ratio (DPR) is currently 42.88%.

In other Raytheon news, Director Stephen J. Hadley sold 800 shares of the firm’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 sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Frank R. Jimenez sold 650 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $187.27, for a total value of $121,725.50. 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. Company insiders own 0.19% of the company’s stock.

RTN has been the subject of a number of research reports. Zacks Investment Research lowered Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. Vetr lowered Raytheon from a “buy” rating to a “hold” rating and set a $187.08 target price for the company. in a research note on Wednesday, August 30th. Citigroup restated a “buy” rating and issued a $215.00 target price (up from $192.00) on shares of Raytheon in a research note on Monday, October 9th. Royal Bank of Canada set a $193.00 target price on Raytheon and gave the company a “buy” rating in a research note on Monday, August 28th. Finally, ValuEngine upgraded Raytheon from a “hold” rating to a “buy” rating in a research note on Monday, September 11th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $201.77.

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About Raytheon

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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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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