Steward Partners Investment Advisory LLC purchased a new stake in shares of Raytheon Company (NYSE:RTN) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,491 shares of the aerospace company’s stock, valued at approximately $1,211,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Raytheon by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 22,278,418 shares of the aerospace company’s stock valued at $3,597,519,000 after purchasing an additional 367,898 shares during the last quarter. BlackRock Inc. lifted its holdings in Raytheon by 2.7% during the 2nd quarter. BlackRock Inc. now owns 19,934,958 shares of the aerospace company’s stock valued at $3,219,097,000 after purchasing an additional 527,139 shares during the last quarter. Boston Partners lifted its holdings in Raytheon by 3.3% during the 2nd quarter. Boston Partners now owns 3,374,514 shares of the aerospace company’s stock valued at $544,916,000 after purchasing an additional 106,788 shares during the last quarter. Pioneer Investment Management Inc. lifted its holdings in Raytheon by 5.6% during the 2nd quarter. Pioneer Investment Management Inc. now owns 3,123,802 shares of the aerospace company’s stock valued at $504,431,000 after purchasing an additional 165,905 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Raytheon by 1.8% during the 2nd quarter. Franklin Resources Inc. now owns 2,611,461 shares of the aerospace company’s stock valued at $421,682,000 after purchasing an additional 46,444 shares during the last quarter. 73.53% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Stephen J. Hadley sold 800 shares of Raytheon stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $190.27, for a total transaction of $152,216.00. Following the completion of the sale, the director now owns 11,360 shares in the company, valued at approximately $2,161,467.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Frank R. Jimenez sold 650 shares of Raytheon 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 1,545 shares of company stock valued at $291,955. 0.19% of the stock is owned by corporate insiders.

Shares of Raytheon Company (NYSE RTN) opened at $191.38 on Friday. Raytheon Company has a 1 year low of $141.16 and a 1 year high of $191.54. 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 company has a market cap of $54,573.84, a P/E ratio of 24.97, a PEG ratio of 2.57 and a beta of 0.58.

Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.90 by $0.07. Raytheon had a net margin of 8.77% and a return on equity of 20.98%. The company had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.33 billion. During the same quarter in the previous year, the company earned $1.79 EPS. Raytheon’s revenue was up 4.5% on a year-over-year basis. research analysts expect that Raytheon Company 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 shares. This buyback authorization allows the aerospace company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 3rd will be given a dividend of $0.7975 per share. This represents a $3.19 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Tuesday, January 2nd. Raytheon’s dividend payout ratio is 42.88%.

A number of brokerages have weighed in on RTN. Royal Bank of Canada set a $193.00 target price on shares of Raytheon and gave the stock a “buy” rating in a research note on Monday, August 28th. BidaskClub downgraded shares of Raytheon from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 19th. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $204.00 target price for the company in a research note on Thursday, September 14th. ValuEngine raised shares of Raytheon from a “hold” rating to a “buy” rating in a research note on Monday, September 11th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $190.00 target price on shares of Raytheon in a research note on Friday, September 29th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $201.77.

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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.

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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