Steward Partners Investment Advisory LLC lessened its holdings in shares of Raytheon (NYSE:RTN) by 8.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 5,921 shares of the aerospace company’s stock after selling 570 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Raytheon were worth $1,112,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RTN. Janus Henderson Group PLC grew its holdings in shares of Raytheon by 13,784.9% in the 2nd quarter. Janus Henderson Group PLC now owns 1,494,150 shares of the aerospace company’s stock valued at $241,276,000 after buying an additional 1,483,389 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Raytheon by 55.2% in the 2nd quarter. Alliancebernstein L.P. now owns 2,328,691 shares of the aerospace company’s stock valued at $376,037,000 after buying an additional 827,931 shares during the period. UBS Asset Management Americas Inc. grew its holdings in shares of Raytheon by 42.7% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,826,164 shares of the aerospace company’s stock valued at $294,889,000 after buying an additional 546,398 shares during the period. BlackRock Inc. grew its holdings in shares of Raytheon by 2.7% in the 2nd quarter. BlackRock Inc. now owns 19,934,958 shares of the aerospace company’s stock valued at $3,219,097,000 after buying an additional 527,139 shares during the period. Finally, Stifel Financial Corp grew its holdings in shares of Raytheon by 2,385.7% in the 3rd quarter. Stifel Financial Corp now owns 488,766 shares of the aerospace company’s stock valued at $90,995,000 after buying an additional 469,103 shares during the period. 73.26% of the stock is owned by hedge funds and other institutional investors.

Raytheon (RTN) opened at $198.09 on Thursday. The firm has a market cap of $57,270.00, a price-to-earnings ratio of 26.66, a P/E/G ratio of 2.67 and a beta of 0.58. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.66 and a quick ratio of 1.55. Raytheon has a one year low of $141.28 and a one year high of $199.75.

Raytheon (NYSE:RTN) last announced 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. The firm had revenue of $6.28 billion during the quarter, compared to analyst estimates of $6.33 billion. Raytheon had a net margin of 8.77% and a return on equity of 20.98%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.79 EPS. analysts predict that Raytheon will post 7.61 earnings per share for the current year.

Raytheon announced that its Board of Directors has approved a stock repurchase program on Wednesday, November 15th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

The business 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 $0.7975 dividend. This represents a $3.19 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Tuesday, January 2nd. Raytheon’s payout ratio is presently 42.93%.

In other Raytheon news, Director Letitia A. Long sold 650 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $422,391.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Frank R. Jimenez sold 175 shares of the business’s stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $189.13, for a total transaction of $33,097.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,895 shares of company stock valued at $357,215. Company insiders own 0.19% of the company’s stock.

RTN has been the subject of several research analyst reports. Buckingham Research boosted their price target on shares of Raytheon from $199.00 to $204.00 and gave the company a “buy” rating in a report on Tuesday, October 31st. Robert W. Baird reissued a “buy” rating and issued a $212.00 price target on shares of Raytheon in a report on Tuesday, October 24th. Cowen reissued a “buy” rating and issued a $203.00 price target on shares of Raytheon in a report on Thursday, October 26th. Wells Fargo & Co decreased their price target on shares of Raytheon from $200.00 to $195.00 and set an “outperform” rating for the company in a report on Friday, October 27th. Finally, Citigroup reissued a “buy” rating and issued a $215.00 price target (up previously from $192.00) on shares of Raytheon in a report on Monday, October 9th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $204.71.

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Raytheon 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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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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