Moneta Group Investment Advisors LLC Has $430,000 Stake in Raytheon Company (RTN)
Moneta Group Investment Advisors LLC grew its stake in Raytheon Company (NYSE:RTN) by 15.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,303 shares of the aerospace company’s stock after purchasing an additional 303 shares during the period. Moneta Group Investment Advisors LLC’s holdings in Raytheon were worth $430,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in RTN. BlackRock Inc. grew its stake in shares of Raytheon by 2,166.0% in the 1st quarter. BlackRock Inc. now owns 19,407,819 shares of the aerospace company’s stock valued at $2,959,694,000 after purchasing an additional 18,551,353 shares during the period. Janus Henderson Group PLC grew its position in Raytheon by 13,784.9% during the 2nd quarter. Janus Henderson Group PLC now owns 1,494,150 shares of the aerospace company’s stock worth $241,276,000 after acquiring an additional 1,483,389 shares during the last quarter. Alliancebernstein L.P. grew its position in Raytheon by 55.2% during the 2nd quarter. Alliancebernstein L.P. now owns 2,328,691 shares of the aerospace company’s stock worth $376,037,000 after acquiring an additional 827,931 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in Raytheon by 42.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,826,164 shares of the aerospace company’s stock worth $294,889,000 after acquiring an additional 546,398 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Raytheon by 66.5% during the 1st quarter. Renaissance Technologies LLC now owns 1,289,200 shares of the aerospace company’s stock worth $196,603,000 after acquiring an additional 514,800 shares during the last quarter. Institutional investors own 73.53% of the company’s stock.
Raytheon Company (NYSE RTN) traded down $1.69 during trading hours on Wednesday, reaching $183.85. The company’s stock had a trading volume of 1,295,900 shares, compared to its average volume of 1,473,537. Raytheon Company has a 12-month low of $137.70 and a 12-month high of $191.36. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.55 and a current ratio of 1.66. The firm has a market cap of $53,637.20, a P/E ratio of 24.54, a price-to-earnings-growth ratio of 2.52 and a beta of 0.58.
Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, October 26th. The aerospace company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.07. Raytheon had a return on equity of 20.98% and a net margin of 8.77%. The firm had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.33 billion. During the same quarter in the prior year, the business earned $1.79 EPS. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. analysts forecast that Raytheon Company will post 7.61 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 3rd will be issued a dividend of $0.7975 per share. This represents a $3.19 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Tuesday, January 2nd. Raytheon’s dividend payout ratio is 42.88%.
Raytheon declared that its board has authorized a share 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 reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
A number of research firms recently commented on RTN. Zacks Investment Research upgraded Raytheon from a “hold” rating to a “buy” rating and set a $204.00 price target on the stock in a research report on Thursday, September 14th. Sanford C. Bernstein restated an “outperform” rating and set a $199.00 price target (up from $188.00) on shares of Raytheon in a research report on Monday, October 30th. They noted that the move was a valuation call. Vetr lowered Raytheon from a “buy” rating to a “hold” rating and set a $187.08 price target on the stock. in a research report on Tuesday, August 15th. Wells Fargo & Company decreased their price target on Raytheon from $200.00 to $195.00 and set an “outperform” rating on the stock in a research report on Friday, October 27th. Finally, Buckingham Research increased their price target on Raytheon from $199.00 to $204.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Raytheon presently has a consensus rating of “Buy” and a consensus target price of $200.59.
In other news, Director Stephen J. Hadley sold 800 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $190.27, for a total value of $152,216.00. Following the transaction, the director now owns 11,360 shares of the company’s stock, valued at approximately $2,161,467.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Frank R. Jimenez sold 650 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $187.27, for a total value of $121,725.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,545 shares of company stock worth $291,955. Company insiders own 0.19% of the company’s stock.
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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.
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