Regentatlantic Capital LLC reduced its stake in shares of Raytheon (NYSE:RTN) by 3.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 50,418 shares of the aerospace company’s stock after selling 1,741 shares during the quarter. Regentatlantic Capital LLC’s holdings in Raytheon were worth $9,471,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of RTN. Janus Henderson Group PLC boosted its holdings in shares of 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 worth $241,276,000 after purchasing an additional 1,483,389 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Raytheon by 55.2% during the second quarter. Alliancebernstein L.P. now owns 2,328,691 shares of the aerospace company’s stock worth $376,037,000 after purchasing an additional 827,931 shares during the period. UBS Asset Management Americas Inc. boosted its holdings in shares of 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 worth $294,889,000 after purchasing an additional 546,398 shares during the period. BlackRock Inc. boosted its holdings in shares of Raytheon by 2.7% during the second quarter. BlackRock Inc. now owns 19,934,958 shares of the aerospace company’s stock worth $3,219,097,000 after purchasing an additional 527,139 shares during the period. Finally, Stifel Financial Corp boosted its holdings in shares of Raytheon by 2,385.7% during the third quarter. Stifel Financial Corp now owns 488,766 shares of the aerospace company’s stock worth $90,995,000 after purchasing an additional 469,103 shares during the period. Institutional investors and hedge funds own 73.26% of the company’s stock.

In related news, Director Letitia A. Long sold 650 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $185.83, for a total transaction of $120,789.50. Following the transaction, the director now owns 2,273 shares of the company’s stock, valued at $422,391.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Frank R. Jimenez sold 175 shares of the business’s stock in a transaction on Saturday, December 29th. The stock was sold at an average price of $189.13, for a total transaction of $33,097.75. Following the transaction, the vice president now directly owns 28,311 shares in the company, valued at approximately $5,354,459.43. The disclosure for this sale can be found here. In the last three months, insiders sold 1,895 shares of company stock worth $357,215. Insiders own 0.19% of the company’s stock.

Several research firms recently commented on RTN. Zacks Investment Research cut shares of Raytheon from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Sanford C. Bernstein restated an “outperform” rating and set a $199.00 price target (up from $188.00) on shares of Raytheon in a report on Monday, October 30th. They noted that the move was a valuation call. Wells Fargo & Co decreased their price target on shares of Raytheon from $200.00 to $195.00 and set an “outperform” rating for the company in a report on Friday, October 27th. Buckingham Research raised their price target on shares of Raytheon from $199.00 to $204.00 and gave the stock a “buy” rating in a report on Tuesday, October 31st. Finally, Deutsche Bank upgraded shares of Raytheon from a “hold” rating to a “buy” rating and lifted their target price for the company from $180.00 to $210.00 in a research note on Friday, September 29th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $204.12.

Raytheon (RTN) traded down $0.44 during trading hours on Tuesday, hitting $195.93. 530,963 shares of the stock were exchanged, compared to its average volume of 1,387,621. Raytheon has a 12 month low of $141.28 and a 12 month high of $199.75. The company has a market capitalization of $56,640.00, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 2.68 and a beta of 0.58. 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 released its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.97 EPS for the quarter, beating the Zacks’ 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 last year, the firm posted $1.79 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. research analysts expect that Raytheon will post 7.61 EPS 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. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

The company 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 $0.7975 dividend. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Tuesday, January 2nd. Raytheon’s dividend payout ratio is 42.93%.

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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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