NEXT Financial Group Inc Boosts Position in Raytheon (RTN)

NEXT Financial Group Inc boosted its holdings in shares of Raytheon (NYSE:RTN) by 30.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,797 shares of the aerospace company’s stock after purchasing an additional 647 shares during the period. NEXT Financial Group Inc’s holdings in Raytheon were worth $525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State of Wisconsin Investment Board raised its position in shares of Raytheon by 16.2% in the second quarter. State of Wisconsin Investment Board now owns 418,556 shares of the aerospace company’s stock worth $67,588,000 after acquiring an additional 58,420 shares during the period. Shikiar Asset Management Inc. raised its position in shares of Raytheon by 6.6% in the second quarter. Shikiar Asset Management Inc. now owns 2,010 shares of the aerospace company’s stock worth $325,000 after acquiring an additional 125 shares during the period. Legal & General Group Plc raised its position in shares of Raytheon by 2.3% in the second quarter. Legal & General Group Plc now owns 1,480,571 shares of the aerospace company’s stock worth $239,070,000 after acquiring an additional 33,017 shares during the period. Colorado Capital Management Inc. acquired a new position in shares of Raytheon in the second quarter worth about $203,000. Finally, Highstreet Asset Management Inc. raised its position in shares of Raytheon by 82.3% in the second quarter. Highstreet Asset Management Inc. now owns 16,557 shares of the aerospace company’s stock worth $2,674,000 after acquiring an additional 7,476 shares during the period. Institutional investors own 73.26% of the company’s stock.

In related news, VP Frank R. Jimenez sold 175 shares of the company’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $189.13, for a total transaction of $33,097.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen J. Hadley sold 800 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $190.27, for a total transaction of $152,216.00. Following the sale, the director now directly owns 11,360 shares of the company’s stock, valued at approximately $2,161,467.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,895 shares of company stock valued at $357,215. 0.19% of the stock is owned by corporate insiders.

A number of research analysts have weighed in on RTN shares. Citigroup reiterated a “buy” rating and issued a $215.00 price objective (up previously from $192.00) on shares of Raytheon in a research report on Monday, October 9th. Bank of America set a $220.00 price objective on shares of Raytheon and gave the stock a “buy” rating in a research report on Friday, October 27th. Royal Bank of Canada set a $225.00 price objective on shares of Raytheon and gave the stock a “buy” rating in a research report on Thursday, November 16th. Buckingham Research upped their price objective on shares of Raytheon from $199.00 to $204.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Finally, Wells Fargo & Co decreased their price objective on shares of Raytheon from $200.00 to $195.00 and set an “outperform” rating for the company in a research report on Friday, October 27th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $204.12.

Raytheon (RTN) opened at $195.73 on Wednesday. Raytheon has a 1 year low of $141.28 and a 1 year high of $199.75. 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 firm has a market cap of $57,083.12, a PE ratio of 26.12, a P/E/G ratio of 2.73 and a beta of 0.58.

Raytheon (NYSE:RTN) last released its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share 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 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 prior year, the firm earned $1.79 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. analysts forecast that Raytheon will post 7.61 earnings per share for the current year.

Raytheon announced that its Board of Directors has initiated a stock repurchase plan 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. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 3rd will be paid a dividend of $0.7975 per share. The ex-dividend date is Tuesday, January 2nd. This represents a $3.19 annualized dividend and a yield of 1.63%. Raytheon’s dividend payout ratio is presently 42.88%.

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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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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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