Boston Family Office LLC raised its holdings in shares of Raytheon (NYSE:RTN) by 11.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,081 shares of the aerospace company’s stock after acquiring an additional 2,850 shares during the period. Boston Family Office LLC’s holdings in Raytheon were worth $5,087,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. OxFORD Asset Management LLP grew its holdings in shares of Raytheon by 238.8% in the second quarter. OxFORD Asset Management LLP now owns 51,452 shares of the aerospace company’s stock worth $8,308,000 after purchasing an additional 36,265 shares during the last quarter. Investment Centers of America Inc. grew its holdings in shares of Raytheon by 26.8% in the third quarter. Investment Centers of America Inc. now owns 2,635 shares of the aerospace company’s stock worth $492,000 after purchasing an additional 557 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Raytheon by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 798,986 shares of the aerospace company’s stock worth $129,017,000 after purchasing an additional 2,849 shares during the last quarter. Boulegeris Investments Inc. grew its holdings in shares of Raytheon by 32.5% in the third quarter. Boulegeris Investments Inc. now owns 11,550 shares of the aerospace company’s stock worth $2,155,000 after purchasing an additional 2,835 shares during the last quarter. Finally, Stevens Capital Management LP bought a new position in shares of Raytheon in the third quarter worth approximately $24,642,000. Institutional investors and hedge funds own 73.29% of the company’s stock.
Shares of Raytheon (NYSE RTN) opened at $204.52 on Friday. Raytheon has a 52 week low of $148.27 and a 52 week high of $213.45. The company has a market capitalization of $59,120.00, a price-to-earnings ratio of 29.47, a P/E/G ratio of 1.94 and a beta of 0.76. The company has a quick ratio of 1.46, a current ratio of 1.54 and a debt-to-equity ratio of 0.48.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Wednesday, January 3rd were given a dividend of $0.7975 per share. This represents a $3.19 annualized dividend and a yield of 1.56%. The ex-dividend date was Tuesday, January 2nd. Raytheon’s dividend payout ratio is currently 45.97%.
Raytheon declared that its Board of Directors has approved a stock repurchase plan on Wednesday, November 15th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the aerospace company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.
Several brokerages have recently issued reports on RTN. Cowen restated a “buy” rating and issued a $215.00 target price on shares of Raytheon in a report on Friday. Zacks Investment Research lowered Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Stifel Nicolaus raised their price target on Raytheon from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Robert W. Baird reaffirmed a “buy” rating and issued a $237.00 price target on shares of Raytheon in a research note on Friday, January 26th. Finally, JPMorgan Chase & Co. dropped their price target on Raytheon from $194.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, October 30th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $210.77.
In other Raytheon news, Director Stephen J. Hadley sold 800 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 11,360 shares of the company’s stock, valued at $2,161,467.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Letitia A. Long sold 650 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $185.83, for a total value of $120,789.50. Following the transaction, the director now directly owns 2,273 shares of the company’s stock, valued at approximately $422,391.59. The disclosure for this sale can be found here. Insiders have sold 7,274 shares of company stock valued at $1,486,162 in the last three months. Insiders own 0.19% of the company’s stock.
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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