Stonehearth Capital Management LLC Invests $103,000 in Raytheon (RTN)
Stonehearth Capital Management LLC purchased a new position in Raytheon (NYSE:RTN) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 550 shares of the aerospace company’s stock, valued at approximately $103,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Raytheon in the third quarter valued at $103,000. Rowland & Co. Investment Counsel ADV purchased a new stake in shares of Raytheon in the fourth quarter valued at $106,000. Jacobi Capital Management LLC grew its position in shares of Raytheon by 5.3% in the second quarter. Jacobi Capital Management LLC now owns 797 shares of the aerospace company’s stock valued at $132,000 after purchasing an additional 40 shares during the period. Invictus RG purchased a new stake in shares of Raytheon in the third quarter valued at $152,000. Finally, Horan Capital Advisors LLC. purchased a new stake in shares of Raytheon in the third quarter valued at $168,000. 73.12% of the stock is owned by institutional investors.
RTN has been the subject of a number of recent analyst reports. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $205.00 price objective for the company in a research report on Wednesday, September 20th. Jefferies Group reaffirmed a “buy” rating and issued a $190.00 price objective on shares of Raytheon in a research report on Friday, September 29th. Deutsche Bank raised Raytheon from a “hold” rating to a “buy” rating and lifted their price objective for the company from $180.00 to $210.00 in a research report on Friday, September 29th. Cowen reaffirmed a “buy” rating and issued a $203.00 price objective on shares of Raytheon in a research report on Thursday, October 26th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $212.00 price objective on shares of Raytheon in a research report on Tuesday, October 24th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $203.36.
Raytheon (RTN) traded up $4.11 during mid-day trading on Friday, reaching $197.46. The company’s stock had a trading volume of 1,491,498 shares, compared to its average volume of 1,383,311. Raytheon has a 1 year low of $141.28 and a 1 year high of $198.07. 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 stock has a market capitalization of $57,080.00, a P/E ratio of 26.58, a PEG ratio of 2.39 and a beta of 0.58.
Raytheon (NYSE:RTN) last posted its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $6.28 billion during the quarter, compared to the consensus estimate of $6.33 billion. During the same quarter in the previous year, the business earned $1.79 earnings per share. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. equities analysts predict that Raytheon will post 7.61 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 3rd will be given a dividend of $0.7975 per share. This represents a $3.19 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Tuesday, January 2nd. Raytheon’s dividend payout ratio (DPR) is presently 42.93%.
Raytheon declared that its Board of Directors has approved a share buyback program on Wednesday, November 15th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
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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.
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