Bradley Foster & Sargent Inc. CT Has $27.50 Million Position in Raytheon Company (RTN)
Bradley Foster & Sargent Inc. CT lessened its position in shares of Raytheon Company (NYSE:RTN) by 0.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 147,391 shares of the aerospace company’s stock after selling 1,270 shares during the period. Raytheon makes up about 1.0% of Bradley Foster & Sargent Inc. CT’s holdings, making the stock its 27th biggest position. Bradley Foster & Sargent Inc. CT owned 50,984.47% of Raytheon worth $27,500,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of RTN. BlackRock Inc. increased its holdings 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 worth $2,959,694,000 after buying an additional 18,551,353 shares during the last quarter. Janus Henderson Group PLC increased 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 worth $241,276,000 after buying an additional 1,483,389 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Raytheon by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 21,910,520 shares of the aerospace company’s stock worth $3,341,355,000 after buying an additional 989,986 shares during the last quarter. Alliancebernstein L.P. increased 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 worth $376,037,000 after buying an additional 827,931 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased 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 worth $294,889,000 after buying an additional 546,398 shares during the last quarter. 73.87% of the stock is currently owned by institutional investors and hedge funds.
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In other Raytheon news, VP Frank R. Jimenez sold 650 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $187.27, for a total transaction of $121,725.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Frank R. Jimenez sold 500 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $181.94, for a total transaction of $90,970.00. Following the sale, the vice president now owns 29,292 shares of the company’s stock, valued at $5,329,386.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,941 shares of company stock valued at $902,999. 0.19% of the stock is owned by company insiders.
Several equities analysts recently commented on the stock. BidaskClub raised shares of Raytheon from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 12th. Morgan Stanley assumed coverage on shares of Raytheon in a report on Tuesday, August 8th. They set an “equal weight” rating and a $188.00 target price on the stock. Argus reaffirmed a “buy” rating and set a $195.00 target price (up previously from $175.00) on shares of Raytheon in a report on Friday, August 4th. Buckingham Research increased their target price on shares of Raytheon from $190.00 to $199.00 and gave the company a “buy” rating in a report on Friday, August 11th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $189.00 target price (up previously from $182.00) on shares of Raytheon in a report on Thursday, August 10th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $200.18.
Raytheon Company (RTN) opened at $182.85 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.66 and a quick ratio of 1.55. The stock has a market cap of $52,859.56, a PE ratio of 24.19, a P/E/G ratio of 2.48 and a beta of 0.57. Raytheon Company has a 12 month low of $137.70 and a 12 month high of $190.25.
Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.07. The company 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%. Raytheon’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business earned $1.79 EPS. analysts anticipate that Raytheon Company will post 7.61 earnings per share for the current year.
The firm also recently declared 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. The ex-dividend date is Tuesday, January 2nd. This represents a $3.19 annualized dividend and a dividend yield of 1.74%. Raytheon’s payout ratio is 42.88%.
Raytheon announced that its board has authorized a share 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 purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
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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