Dimensional Fund Advisors LP Has $148.59 Million Stake in Raytheon Company (RTN)
Dimensional Fund Advisors LP lowered its holdings in Raytheon Company (NYSE:RTN) by 0.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 796,472 shares of the aerospace company’s stock after selling 2,514 shares during the period. Dimensional Fund Advisors LP owned about 0.28% of Raytheon worth $148,593,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of RTN. Signature Estate & Investment Advisors LLC purchased a new position in Raytheon in the third quarter valued at about $103,000. St. Johns Investment Management Company LLC purchased a new position in Raytheon in the second quarter valued at about $113,000. Jacobi Capital Management LLC boosted its holdings in Raytheon by 5.3% in the second quarter. Jacobi Capital Management LLC now owns 797 shares of the aerospace company’s stock valued at $132,000 after purchasing an additional 40 shares during the last quarter. Shine Investment Advisory Services Inc. purchased a new position in Raytheon in the second quarter valued at about $139,000. Finally, Oakworth Capital Inc. boosted its holdings in Raytheon by 34.9% in the second quarter. Oakworth Capital Inc. now owns 985 shares of the aerospace company’s stock valued at $159,000 after purchasing an additional 255 shares during the last quarter. 73.53% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Stephen J. Hadley sold 800 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $190.27, for a total transaction of $152,216.00. Following the sale, the director now directly owns 11,360 shares in the company, valued at approximately $2,161,467.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Frank R. Jimenez sold 650 shares of the stock in a transaction that occurred on 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. Insiders have sold a total of 1,545 shares of company stock worth $291,955 over the last quarter. Insiders own 0.19% of the company’s stock.
A number of research analysts recently commented on the company. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $205.00 price target for the company in a report on Wednesday, September 20th. ValuEngine cut Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Stifel Nicolaus upped their price objective on Raytheon from $185.00 to $195.00 and gave the company a “hold” rating in a research note on Friday, October 27th. Royal Bank of Canada restated a “buy” rating and set a $209.00 price objective on shares of Raytheon in a research note on Tuesday, October 10th. Finally, Vetr cut Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price objective on the stock. in a research note on Wednesday, August 30th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $201.77.
Shares of Raytheon Company (RTN) traded up $0.13 during trading on Friday, hitting $188.78. The stock had a trading volume of 1,005,200 shares, compared to its average volume of 1,460,844. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.66 and a quick ratio of 1.55. The firm has a market cap of $54,536.26, a PE ratio of 24.95, a price-to-earnings-growth ratio of 2.56 and a beta of 0.58. Raytheon Company has a fifty-two week low of $141.16 and a fifty-two week high of $191.36.
Raytheon (NYSE:RTN) last announced its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates 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 business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.79 EPS. research analysts forecast that Raytheon Company will post 7.61 EPS for the current year.
Raytheon declared that its Board of Directors has initiated a share repurchase 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 generally a sign that the company’s board of directors believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 3rd will be given a dividend of $0.7975 per share. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Tuesday, January 2nd. Raytheon’s payout ratio is 42.88%.
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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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