State Board of Administration of Florida Retirement System boosted its stake in Raytheon Company (NYSE:RTN) by 0.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 445,232 shares of the company’s stock after buying an additional 1,530 shares during the period. State Board of Administration of Florida Retirement System owned 0.15% of Raytheon Company worth $63,223,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Aureus Asset Management LLC purchased a new position in shares of Raytheon Company during the second quarter valued at approximately $318,000. Tradewinds Capital Management LLC increased its position in shares of Raytheon Company by 11.6% in the third quarter. Tradewinds Capital Management LLC now owns 759 shares of the company’s stock valued at $103,000 after buying an additional 79 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of Raytheon Company during the third quarter valued at approximately $105,000. QCI Asset Management Inc. NY increased its position in shares of Raytheon Company by 4.5% in the third quarter. QCI Asset Management Inc. NY now owns 810 shares of the company’s stock valued at $110,000 after buying an additional 35 shares during the period. Finally, CWM LLC increased its position in shares of Raytheon Company by 14.0% in the third quarter. CWM LLC now owns 814 shares of the company’s stock valued at $111,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 77.29% of the company’s stock.
Raytheon Company (NYSE:RTN) traded up 0.53% during midday trading on Friday, hitting $150.03. 1,281,722 shares of the company were exchanged. The firm’s 50-day moving average price is $146.10 and its 200-day moving average price is $142.17. The stock has a market capitalization of $44.14 billion, a PE ratio of 20.16 and a beta of 0.67. Raytheon Company has a one year low of $119.38 and a one year high of $152.58.
Raytheon Company (NYSE:RTN) last released its earnings results on Thursday, January 26th. The company reported $1.84 EPS for the quarter, missing the consensus estimate of $1.86 by $0.02. Raytheon Company had a net margin of 9.19% and a return on equity of 19.77%. The firm earned $6.20 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same period in the prior year, the business earned $1.85 earnings per share. Raytheon Company’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities research analysts anticipate that Raytheon Company will post $7.40 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 2nd. Shareholders of record on Wednesday, January 4th were issued a $0.7325 dividend. This represents a $2.93 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Friday, December 30th. Raytheon Company’s dividend payout ratio is currently 39.38%.
Several research analysts have recently issued reports on the stock. Deutsche Bank AG boosted their price objective on shares of Raytheon Company from $145.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, December 5th. Wells Fargo & Company restated a “buy” rating on shares of Raytheon Company in a report on Monday, November 14th. Vetr downgraded shares of Raytheon Company from a “strong-buy” rating to a “buy” rating and set a $163.03 price objective on the stock. in a report on Wednesday, January 18th. Zacks Investment Research downgraded shares of Raytheon Company from a “buy” rating to a “hold” rating in a report on Friday, January 20th. Finally, Robert W. Baird restated an “outperform” rating and set a $170.00 price objective on shares of Raytheon Company in a report on Friday, January 20th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $157.03.
In other Raytheon Company news, VP Frank R. Jimenez sold 500 shares of the firm’s stock in a transaction dated Thursday, January 26th. The shares were sold at an average price of $142.00, for a total value of $71,000.00. Following the transaction, the vice president now directly owns 26,158 shares of the company’s stock, valued at approximately $3,714,436. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.21% of the stock is owned by company insiders.
Raytheon Company Company Profile
Raytheon Company (Raytheon), together with its subsidiaries, is a technology company. The Company develops technologically integrated products, services and solutions in various markets, such as sensing; effects; command, control, communications, computers, cyber and intelligence (C5I); mission support, and cybersecurity.
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