Quantitative Systematic Strategies LLC lessened its stake in shares of Raytheon (NYSE:RTN) by 44.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,143 shares of the aerospace company’s stock after selling 1,732 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Raytheon were worth $403,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Signature Estate & Investment Advisors LLC purchased a new stake in Raytheon during the third quarter worth about $103,000. Stonehearth Capital Management LLC purchased a new position in shares of Raytheon in the fourth quarter worth about $103,000. Rowland & Co. Investment Counsel ADV purchased a new position in shares of Raytheon in the fourth quarter worth about $106,000. Jacobi Capital Management LLC increased its stake in shares of Raytheon by 5.3% in the second quarter. Jacobi Capital Management LLC now owns 797 shares of the aerospace company’s stock worth $132,000 after purchasing an additional 40 shares in the last quarter. Finally, Invictus RG purchased a new position in shares of Raytheon in the third quarter worth about $152,000. Institutional investors and hedge funds own 73.29% of the company’s stock.
Raytheon (RTN) opened at $201.13 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.54 and a quick ratio of 1.46. Raytheon has a 1 year low of $147.84 and a 1 year high of $213.45. The company has a market cap of $57,343.30, a P/E ratio of 25.73, a PEG ratio of 1.88 and a beta of 0.76.
Raytheon declared that its board has approved a share repurchase plan on Wednesday, November 15th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the aerospace company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 3rd were given a $0.7975 dividend. The ex-dividend date was Tuesday, January 2nd. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.59%. Raytheon’s dividend payout ratio (DPR) is currently 45.90%.
In other news, VP Frank R. Jimenez sold 175 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $189.13, for a total value of $33,097.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael J. Wood sold 1,974 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $208.07, for a total transaction of $410,730.18. Following the completion of the transaction, the vice president now owns 17,467 shares of the company’s stock, valued at $3,634,358.69. The disclosure for this sale can be found here. Insiders sold 7,274 shares of company stock valued at $1,486,162 over the last 90 days. 0.19% of the stock is owned by company insiders.
Several equities analysts have recently weighed in on RTN shares. Cowen reiterated a “buy” rating and issued a $203.00 target price on shares of Raytheon in a research note on Thursday, October 26th. Robert W. Baird reiterated a “buy” rating and issued a $212.00 target price on shares of Raytheon in a research note on Tuesday, October 24th. Royal Bank of Canada reiterated a “buy” rating and issued a $209.00 target price on shares of Raytheon in a research note on Tuesday, October 10th. Bank of America set a $220.00 target price on shares of Raytheon and gave the stock a “buy” rating in a research note on Friday, October 27th. Finally, Buckingham Research lifted their target price on shares of Raytheon from $199.00 to $204.00 and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $210.77.
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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