First Citizens Bank & Trust Co. boosted its position in Raytheon (NYSE:RTN) by 710.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 16,718 shares of the aerospace company’s stock after acquiring an additional 14,656 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Raytheon were worth $3,141,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Pineno Levin & Ford Asset Management Inc. lifted its position in Raytheon by 0.8% in the second quarter. Pineno Levin & Ford Asset Management Inc. now owns 1,903 shares of the aerospace company’s stock valued at $307,000 after purchasing an additional 16 shares during the period. TCI Wealth Advisors Inc. lifted its position in Raytheon by 0.8% in the second quarter. TCI Wealth Advisors Inc. now owns 2,048 shares of the aerospace company’s stock valued at $331,000 after purchasing an additional 17 shares during the period. Omnia Family Wealth LLC lifted its position in Raytheon by 2.3% in the second quarter. Omnia Family Wealth LLC now owns 1,326 shares of the aerospace company’s stock valued at $215,000 after purchasing an additional 30 shares during the period. Courier Capital LLC lifted its position in Raytheon by 1.1% in the second quarter. Courier Capital LLC now owns 2,772 shares of the aerospace company’s stock valued at $448,000 after purchasing an additional 30 shares during the period. Finally, Linscomb & Williams Inc. lifted its position in Raytheon by 1.8% in the second quarter. Linscomb & Williams Inc. now owns 1,734 shares of the aerospace company’s stock valued at $280,000 after purchasing an additional 30 shares during the period. Hedge funds and other institutional investors own 73.12% of the company’s stock.

In other news, Director Letitia A. Long sold 650 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $185.83, for a total transaction of $120,789.50. Following the completion of the transaction, 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 filing with the SEC, which is available at the SEC website. Also, Director Stephen J. Hadley sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $190.27, for a total transaction of $152,216.00. Following the transaction, the director now directly owns 11,360 shares of the company’s stock, valued at $2,161,467.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,895 shares of company stock valued at $357,215. Corporate insiders own 0.19% of the company’s stock.

A number of equities research analysts recently commented on the stock. Stifel Nicolaus restated a “buy” rating and issued a $210.00 price objective on shares of Raytheon in a research report on Tuesday. Jefferies Group reiterated a “buy” rating and set a $190.00 price target on shares of Raytheon in a research report on Friday, September 29th. ValuEngine downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Wells Fargo & Co reiterated an “outperform” rating and set a $202.00 price target (up from $195.00) on shares of Raytheon in a research report on Tuesday, November 28th. Finally, Zacks Investment Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Raytheon presently has a consensus rating of “Buy” and a consensus target price of $202.65.

Raytheon (NYSE:RTN) traded up $1.34 during mid-day trading on Wednesday, hitting $193.70. 1,256,000 shares of the stock were exchanged, compared to its average volume of 1,406,867. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.55 and a current ratio of 1.66. Raytheon has a 52 week low of $141.28 and a 52 week high of $194.69. The firm has a market cap of $55,770.00, a P/E ratio of 26.07, a price-to-earnings-growth ratio of 2.39 and a beta of 0.58.

Raytheon (NYSE:RTN) last issued its quarterly earnings data 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. Raytheon had a net margin of 8.77% and a return on equity of 20.98%. The business had revenue of $6.28 billion during the quarter, compared to analysts’ expectations of $6.33 billion. During the same period last year, the company posted $1.79 EPS. The company’s revenue was up 4.5% on a year-over-year basis. equities research analysts expect that Raytheon will post 7.61 earnings per share for the current year.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 3rd will be paid a dividend of $0.7975 per share. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.65%. Raytheon’s dividend payout ratio (DPR) is 42.93%.

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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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