First American Bank lowered its stake in Raytheon (NYSE:RTN) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,762 shares of the aerospace company’s stock after selling 260 shares during the quarter. First American Bank’s holdings in Raytheon were worth $4,088,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Janus Henderson Group PLC lifted its position 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 in the last quarter. Alliancebernstein L.P. lifted its position 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 in the last quarter. UBS Asset Management Americas Inc. lifted its position 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 in the last quarter. BlackRock Inc. lifted its position 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 in the last quarter. Finally, Stifel Financial Corp lifted its position 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 in the last quarter. 73.26% of the stock is currently owned by institutional investors.

Several analysts have recently issued reports on RTN shares. Zacks Investment Research cut shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Citigroup reissued a “buy” rating and set a $215.00 price target (up previously from $192.00) on shares of Raytheon in a research report on Monday, October 9th. Stifel Nicolaus reissued a “buy” rating and set a $210.00 price target on shares of Raytheon in a research report on Tuesday, January 9th. Robert W. Baird reissued a “buy” rating and set a $212.00 price target on shares of Raytheon in a research report on Tuesday, October 24th. Finally, JPMorgan Chase & Co. cut shares of Raytheon from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $190.00 to $210.00 in a research report on Tuesday, December 12th. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $204.12.

In related news, Director Letitia A. Long sold 650 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 2,273 shares in the company, valued at $422,391.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen J. Hadley sold 800 shares of the company’s 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 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 1,895 shares of company stock worth $357,215 over the last 90 days. Insiders own 0.19% of the company’s stock.

Shares of Raytheon (NYSE:RTN) opened at $196.23 on Wednesday. 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 has a one year low of $141.28 and a one year high of $199.75. The firm has a market cap of $56,730.00, a P/E ratio of 26.41, a P/E/G ratio of 2.68 and a beta of 0.58.

Raytheon (NYSE:RTN) last released its earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share for the quarter, topping 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 firm had revenue of $6.28 billion for the quarter, compared to analyst estimates of $6.33 billion. During the same period in the prior year, the firm earned $1.79 earnings per share. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. analysts predict that Raytheon will post 7.61 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors 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 dividend on an annualized basis and a dividend yield of 1.63%. Raytheon’s payout ratio is 42.93%.

Raytheon declared that its Board of Directors has approved a stock buyback plan on Wednesday, November 15th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

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Raytheon Company Profile

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.

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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