FDx Advisors Inc. Grows Position in Raytheon (RTN)

FDx Advisors Inc. increased its position in Raytheon (NYSE:RTN) by 39.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,638 shares of the aerospace company’s stock after acquiring an additional 3,574 shares during the period. FDx Advisors Inc.’s holdings in Raytheon were worth $1,938,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Investment Advisory Services LLC acquired a new stake in shares of Raytheon in the 4th quarter worth approximately $39,000. Penserra Capital Management LLC grew its holdings in shares of Raytheon by 36.1% in the 4th quarter. Penserra Capital Management LLC now owns 264 shares of the aerospace company’s stock worth $40,000 after acquiring an additional 70 shares during the period. Ruggie Capital Group acquired a new stake in shares of Raytheon in the 4th quarter worth approximately $42,000. Oregon Public Employees Retirement Fund grew its holdings in shares of Raytheon by 8,792.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,674,238 shares of the aerospace company’s stock worth $63,000 after acquiring an additional 9,565,442 shares during the period. Finally, Hudock Capital Group LLC grew its holdings in shares of Raytheon by 27.8% in the 4th quarter. Hudock Capital Group LLC now owns 534 shares of the aerospace company’s stock worth $81,000 after acquiring an additional 116 shares during the period. Institutional investors and hedge funds own 73.93% of the company’s stock.

In other Raytheon news, CAO Michael J. Wood sold 3,501 shares of the stock in a transaction on Friday, February 15th. The stock was sold at an average price of $183.86, for a total transaction of $643,693.86. Following the transaction, the chief accounting officer now owns 19,217 shares of the company’s stock, valued at approximately $3,533,237.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Frank R. Jimenez sold 4,094 shares of the stock in a transaction on Friday, February 15th. The stock was sold at an average price of $183.89, for a total value of $752,845.66. Following the transaction, the vice president now directly owns 36,964 shares in the company, valued at approximately $6,797,309.96. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.

A number of equities research analysts recently weighed in on the company. Morgan Stanley lowered their price target on Raytheon from $228.00 to $221.00 and set an “overweight” rating on the stock in a report on Wednesday, November 14th. Alembic Global Advisors upgraded Raytheon from a “neutral” rating to an “overweight” rating and set a $214.00 price target on the stock in a report on Tuesday, February 5th. Wells Fargo & Co lowered their price target on Raytheon from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday, October 26th. Bank of America lowered their price target on Raytheon from $245.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, October 26th. Finally, Barclays reduced their target price on Raytheon from $239.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. Raytheon has a consensus rating of “Buy” and a consensus price target of $217.31.

RTN stock opened at $185.38 on Friday. Raytheon has a 1 year low of $144.27 and a 1 year high of $229.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.37 and a current ratio of 1.46. The company has a market capitalization of $52.11 billion, a P/E ratio of 17.47, a P/E/G ratio of 1.40 and a beta of 0.95.

Raytheon (NYSE:RTN) last posted its earnings results on Thursday, January 31st. The aerospace company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.04. Raytheon had a return on equity of 25.81% and a net margin of 10.75%. The firm had revenue of $7.36 billion for the quarter, compared to analyst estimates of $7.50 billion. During the same quarter in the prior year, the company earned $2.03 EPS. Analysts expect that Raytheon will post 11.59 earnings per share for the current year.

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About Raytheon

Raytheon Company develops integrated products, services, and solutions for defense and other government markets worldwide. It operates through five segments: Integrated Defense Systems (IDS); Intelligence, Information and Services (IIS); Missile Systems (MS); Space and Airborne Systems (SAS); and Forcepoint.

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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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