Adell Harriman & Carpenter Inc. lifted its stake in Raytheon Company (NYSE:RTN) by 32.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,250 shares of the aerospace company’s stock after purchasing an additional 2,000 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Raytheon were worth $1,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. St. Johns Investment Management Company LLC bought a new stake in Raytheon in the 2nd quarter worth about $113,000. Jacobi Capital Management LLC increased its holdings in Raytheon by 271.1% in the 1st quarter. Jacobi Capital Management LLC now owns 757 shares of the aerospace company’s stock worth $114,000 after buying an additional 553 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new stake in Raytheon in the 2nd quarter worth about $139,000. Sumitomo Mitsui Financial Group Inc. bought a new stake in Raytheon in the 1st quarter worth about $149,000. Finally, Oakworth Capital Inc. increased its holdings in Raytheon by 34.9% in the 2nd quarter. Oakworth Capital Inc. now owns 985 shares of the aerospace company’s stock worth $159,000 after buying an additional 255 shares in the last quarter. 73.87% of the stock is owned by hedge funds and other institutional investors.

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Several research firms recently commented on RTN. Royal Bank Of Canada set a $225.00 price objective on Raytheon and gave the stock a “buy” rating in a report on Thursday, November 16th. Buckingham Research boosted their price target on Raytheon from $199.00 to $204.00 and gave the company a “buy” rating in a research note on Tuesday, October 31st. Zacks Investment Research downgraded Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. J P Morgan Chase & Co cut their price target on Raytheon from $194.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, October 30th. Finally, 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 note on Monday, October 30th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $200.18.

Raytheon Company (RTN) traded up $0.50 during midday trading on Friday, reaching $185.96. The company had a trading volume of 126,496 shares, compared to its average volume of 1,472,460. The company has a current ratio of 1.66, a quick ratio of 1.55 and a debt-to-equity ratio of 0.44. Raytheon Company has a one year low of $137.70 and a one year high of $190.25. The stock has a market cap of $53,614.08, a PE ratio of 24.53, a PEG ratio of 2.52 and a beta of 0.57.

Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.97 EPS for the quarter, topping the Zacks’ 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 company had revenue of $6.28 billion for the quarter, compared to analysts’ expectations of $6.33 billion. During the same period in the previous year, the firm earned $1.79 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. sell-side analysts predict that Raytheon Company will post 7.61 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 3rd will be issued a dividend of $0.7975 per share. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a $3.19 annualized dividend and a dividend yield of 1.72%. Raytheon’s dividend payout ratio (DPR) is 42.88%.

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

In other news, VP Frank R. Jimenez sold 650 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $187.27, for a total transaction of $121,725.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Frank R. Jimenez sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $181.94, for a total value of $90,970.00. Following the sale, the vice president now directly owns 29,292 shares in the company, valued at $5,329,386.48. The disclosure for this sale can be found here. Insiders have sold a total of 4,941 shares of company stock worth $902,999 over the last ninety days. Insiders own 0.19% of the company’s stock.

About Raytheon

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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