Sheaff Brock Investment Advisors LLC decreased its holdings in shares of Raytheon (NYSE:RTN) by 19.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,853 shares of the aerospace company’s stock after selling 439 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Raytheon were worth $348,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of RTN. Janus Henderson Group PLC boosted its holdings in shares of Raytheon by 13,784.9% during the second quarter. Janus Henderson Group PLC now owns 1,494,150 shares of the aerospace company’s stock worth $241,276,000 after purchasing an additional 1,483,389 shares during the last quarter. BlackRock Inc. boosted its holdings in Raytheon by 6.2% in the fourth quarter. BlackRock Inc. now owns 21,240,939 shares of the aerospace company’s stock valued at $3,990,111,000 after acquiring an additional 1,237,648 shares during the last quarter. Stifel Financial Corp boosted its holdings in Raytheon by 2,385.7% in the third quarter. Stifel Financial Corp now owns 488,766 shares of the aerospace company’s stock valued at $90,995,000 after acquiring an additional 469,103 shares during the last quarter. APG Asset Management N.V. boosted its holdings in Raytheon by 36.5% in the third quarter. APG Asset Management N.V. now owns 1,427,712 shares of the aerospace company’s stock valued at $266,383,000 after acquiring an additional 381,913 shares during the last quarter. Finally, USS Investment Management Ltd boosted its holdings in Raytheon by 26.5% in the fourth quarter. USS Investment Management Ltd now owns 1,345,404 shares of the aerospace company’s stock valued at $252,781,000 after acquiring an additional 281,900 shares during the last quarter. Institutional investors and hedge funds own 71.98% of the company’s stock.
Shares of Raytheon (NYSE RTN) opened at $218.24 on Friday. Raytheon has a 52-week low of $148.65 and a 52-week high of $219.78. The stock has a market capitalization of $62,132.65, a PE ratio of 31.40, a PEG ratio of 2.04 and a beta of 0.77. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.46 and a current ratio of 1.54.
Raytheon (NYSE:RTN) last announced its earnings results on Thursday, January 25th. The aerospace company reported $2.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.01. Raytheon had a return on equity of 21.36% and a net margin of 7.98%. The business had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same period in the previous year, the company earned $1.84 earnings per share. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. research analysts predict that Raytheon will post 9.65 EPS for the current year.
Raytheon declared that its Board of Directors has approved a share buyback plan on Wednesday, November 15th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
In related news, CAO Michael J. Wood sold 3,989 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $215.88, for a total value of $861,145.32. Following the completion of the sale, the chief accounting officer now directly owns 22,260 shares of the company’s stock, valued at $4,805,488.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Frank R. Jimenez sold 175 shares of the business’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $189.13, for a total value of $33,097.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,792 shares of company stock valued at $14,973,517. 0.19% of the stock is owned by corporate insiders.
A number of brokerages recently weighed in on RTN. Sanford C. Bernstein reiterated an “outperform” rating and issued a $199.00 target price (up previously from $188.00) on shares of Raytheon in a report on Monday, October 30th. They noted that the move was a valuation call. Wells Fargo & Co cut their price objective on Raytheon from $200.00 to $195.00 and set an “outperform” rating on the stock in a research report on Friday, October 27th. Buckingham Research raised their price objective on Raytheon from $199.00 to $204.00 and gave the company a “buy” rating in a research report on Tuesday, October 31st. Stifel Nicolaus raised their price objective on Raytheon from $185.00 to $195.00 and gave the company a “hold” rating in a research report on Friday, October 27th. Finally, Royal Bank of Canada set a $225.00 price objective on Raytheon and gave the company a “buy” rating in a research report on Thursday, November 16th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Raytheon has a consensus rating of “Buy” and an average price target of $214.12.
ILLEGAL ACTIVITY NOTICE: “Sheaff Brock Investment Advisors LLC Has $348,000 Stake in Raytheon (RTN)” was published by Transcript Daily and is the sole property of of Transcript Daily. If you are accessing this piece of content on another domain, it was illegally stolen and reposted in violation of U.S. and international copyright laws. The original version of this piece of content can be viewed at https://transcriptdaily.com/2018/02/24/sheaff-brock-investment-advisors-llc-has-348000-stake-in-raytheon-rtn.html.
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.
Want to see what other hedge funds are holding RTN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Raytheon (NYSE:RTN).
Receive News & Ratings for Raytheon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon and related companies with MarketBeat.com's FREE daily email newsletter.