Artemis Investment Management LLP grew its holdings in shares of Raytheon (NYSE:RTN) by 18.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,253 shares of the aerospace company’s stock after buying an additional 8,950 shares during the period. Artemis Investment Management LLP’s holdings in Raytheon were worth $12,779,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Atlantic Union Bankshares Corp boosted its holdings in Raytheon by 3.4% in the fourth quarter. Atlantic Union Bankshares Corp now owns 25,289 shares of the aerospace company’s stock worth $5,557,000 after acquiring an additional 831 shares in the last quarter. PFG Advisors increased its holdings in shares of Raytheon by 23.3% during the fourth quarter. PFG Advisors now owns 1,292 shares of the aerospace company’s stock valued at $294,000 after acquiring an additional 244 shares in the last quarter. Johanson Financial Advisors Inc. increased its holdings in shares of Raytheon by 21,333.2% during the fourth quarter. Johanson Financial Advisors Inc. now owns 836,539 shares of the aerospace company’s stock valued at $3,807,000 after acquiring an additional 832,636 shares in the last quarter. HNP Capital LLC raised its position in shares of Raytheon by 15.3% in the 4th quarter. HNP Capital LLC now owns 11,721 shares of the aerospace company’s stock worth $2,655,000 after purchasing an additional 1,559 shares during the last quarter. Finally, Woodstock Corp raised its position in shares of Raytheon by 8.1% in the 4th quarter. Woodstock Corp now owns 28,040 shares of the aerospace company’s stock worth $6,162,000 after purchasing an additional 2,092 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently commented on RTN shares. Sanford C. Bernstein increased their price objective on shares of Raytheon from $212.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, October 25th. Credit Suisse Group lifted their target price on shares of Raytheon from $230.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. JPMorgan Chase & Co. set a $240.00 target price on shares of Raytheon and gave the stock a “buy” rating in a research note on Friday, October 25th. Cowen reiterated a “buy” rating and issued a $225.00 target price on shares of Raytheon in a research note on Thursday, October 24th. Finally, Wolfe Research set a $221.00 price target on shares of Raytheon and gave the company a “buy” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. Raytheon presently has an average rating of “Buy” and a consensus price target of $220.47.
Raytheon stock opened at $227.40 on Wednesday. Raytheon has a one year low of $158.16 and a one year high of $232.47. The business’s fifty day moving average is $220.24 and its 200 day moving average is $199.99. The stock has a market capitalization of $63.07 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 1.65 and a beta of 0.88. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.54 and a quick ratio of 1.44.
Raytheon (NYSE:RTN) last issued its earnings results on Thursday, October 24th. The aerospace company reported $3.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.86 by $0.22. The business had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.29 billion. Raytheon had a return on equity of 27.23% and a net margin of 11.47%. Raytheon’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.25 EPS. As a group, sell-side analysts expect that Raytheon will post 11.88 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Wednesday, January 8th will be paid a $0.9425 dividend. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $3.77 dividend on an annualized basis and a dividend yield of 1.66%. Raytheon’s dividend payout ratio is presently 35.53%.
In related news, Director Tracy A. Atkinson sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $215.48, for a total value of $107,740.00. Following the sale, the director now owns 4,376 shares in the company, valued at $942,940.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen J. Hadley sold 1,900 shares of Raytheon stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $232.00, for a total transaction of $440,800.00. Following the completion of the sale, the director now directly owns 8,750 shares of the company’s stock, valued at approximately $2,030,000. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.
Raytheon Company develops integrated products, services, and solutions for the 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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