Beck Bode LLC Sells 619 Shares of Raytheon (NYSE:RTN)

Beck Bode LLC lowered its position in shares of Raytheon (NYSE:RTN) by 12.7% in the fourth quarter, HoldingsChannel reports. The fund owned 4,260 shares of the aerospace company’s stock after selling 619 shares during the period. Beck Bode LLC’s holdings in Raytheon were worth $936,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Liberty Wealth Management LLC grew its stake in shares of Raytheon by 312.5% during the third quarter. Liberty Wealth Management LLC now owns 132 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 100 shares during the period. Bridger Capital Management LLC acquired a new position in shares of Raytheon during the third quarter worth about $26,000. Garrett Wealth Advisory Group LLC acquired a new position in shares of Raytheon during the third quarter worth about $32,000. Sound Income Strategies LLC boosted its position in shares of Raytheon by 95.3% during the third quarter. Sound Income Strategies LLC now owns 166 shares of the aerospace company’s stock worth $33,000 after buying an additional 81 shares during the period. Finally, First Financial Corp IN acquired a new position in shares of Raytheon during the third quarter worth about $33,000. Institutional investors own 74.38% of the company’s stock.

In other Raytheon news, Director Stephen J. Hadley sold 1,900 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $232.00, for a total value of $440,800.00. Following the sale, the director now owns 8,750 shares of the company’s stock, valued at approximately $2,030,000. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Tracy A. Atkinson sold 500 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $215.48, for a total value of $107,740.00. Following the completion of the sale, the director now directly owns 4,376 shares in the company, valued at approximately $942,940.48. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

RTN has been the subject of several recent research reports. Wolfe Research set a $221.00 price objective on Raytheon and gave the stock a “buy” rating in a research report on Friday, October 25th. Barclays set a $215.00 price objective on Raytheon and gave the stock a “hold” rating in a research report on Tuesday, October 8th. Credit Suisse Group upped their price objective on Raytheon from $230.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. UBS Group upped their price objective on Raytheon from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. set a $240.00 price objective on Raytheon and gave the stock a “buy” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $221.80.

RTN traded down $3.18 on Monday, hitting $228.06. 632,596 shares of the company were exchanged, compared to its average volume of 1,475,855. Raytheon has a 12 month low of $164.70 and a 12 month high of $233.48. The company has a market cap of $64.40 billion, a PE ratio of 19.49, a PEG ratio of 1.68 and a beta of 0.88. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.44 and a current ratio of 1.54. The stock’s fifty day moving average is $223.06 and its 200-day moving average is $202.85.

Raytheon (NYSE:RTN) last released its earnings results on Thursday, October 24th. The aerospace company reported $3.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.22. The business had revenue of $7.45 billion for the quarter, compared to analyst estimates of $7.29 billion. Raytheon had a return on equity of 27.23% and a net margin of 11.47%. Raytheon’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.25 earnings per share. As a group, equities research analysts expect that Raytheon will post 11.88 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Wednesday, January 8th will be paid a dividend of $0.9425 per share. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $3.77 dividend on an annualized basis and a dividend yield of 1.65%. Raytheon’s dividend payout ratio (DPR) is currently 35.53%.

Raytheon Profile

Raytheon Company develops integrated products, services, and solutions for the defense and other government markets worldwide. It operates through five segments: Integrated Defense Systems (IDS); Intelligence, Information and Services (IIS); Missile Systems (MS); Space and Airborne Systems (SAS); and Forcepoint.

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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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