Grassi Investment Management Purchases 2,225 Shares of Raytheon (RTN)

Grassi Investment Management boosted its holdings in Raytheon (NYSE:RTN) by 7.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 33,550 shares of the aerospace company’s stock after buying an additional 2,225 shares during the period. Grassi Investment Management’s holdings in Raytheon were worth $6,302,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Pineno Levin & Ford Asset Management Inc. grew its position in shares of Raytheon by 0.8% during the second quarter. Pineno Levin & Ford Asset Management Inc. now owns 1,903 shares of the aerospace company’s stock worth $307,000 after buying an additional 16 shares in the last quarter. TCI Wealth Advisors Inc. boosted its holdings in Raytheon by 0.8% in the second quarter. TCI Wealth Advisors Inc. now owns 2,048 shares of the aerospace company’s stock worth $331,000 after purchasing an additional 17 shares during the period. Omnia Family Wealth LLC boosted its holdings in Raytheon by 2.3% in the second quarter. Omnia Family Wealth LLC now owns 1,326 shares of the aerospace company’s stock worth $215,000 after purchasing an additional 30 shares during the period. Courier Capital LLC boosted its holdings in Raytheon by 1.1% in the second quarter. Courier Capital LLC now owns 2,772 shares of the aerospace company’s stock worth $448,000 after purchasing an additional 30 shares during the period. Finally, Linscomb & Williams Inc. boosted its holdings in Raytheon by 1.8% in the second quarter. Linscomb & Williams Inc. now owns 1,734 shares of the aerospace company’s stock worth $280,000 after purchasing an additional 30 shares during the period. Hedge funds and other institutional investors own 73.26% of the company’s stock.

In related news, Director Stephen J. Hadley sold 800 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $190.27, for a total value of $152,216.00. Following the completion of the sale, the director now directly owns 11,360 shares in the company, valued at approximately $2,161,467.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Frank R. Jimenez sold 175 shares of the company’s stock in a transaction that occurred on Friday, December 29th. The stock was 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. In the last three months, insiders sold 1,895 shares of company stock valued at $357,215. 0.19% of the stock is currently owned by company insiders.

A number of research firms have commented on RTN. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $215.00 price objective (up previously from $202.00) on shares of Raytheon in a report on Tuesday. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $217.00 price target for the company in a report on Friday, January 12th. Stifel Nicolaus reissued a “buy” rating and set a $210.00 price target on shares of Raytheon in a report on Tuesday, January 9th. ValuEngine upgraded shares of Raytheon from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, JPMorgan Chase & Co. cut shares of Raytheon from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $190.00 to $210.00 in a research note on Tuesday, December 12th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $204.12.

Shares of Raytheon (RTN) traded up $1.26 on Wednesday, reaching $196.99. The company had a trading volume of 1,519,932 shares, compared to its average volume of 1,422,064. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.66 and a quick ratio of 1.55. Raytheon has a 1 year low of $141.28 and a 1 year high of $199.75. The stock has a market cap of $56,950.00, a PE ratio of 26.51, a P/E/G ratio of 2.73 and a beta of 0.58.

Raytheon (NYSE:RTN) last released its earnings results on Thursday, October 26th. The aerospace company reported $1.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.07. The company had revenue of $6.28 billion for the quarter, compared to analysts’ expectations of $6.33 billion. Raytheon had a return on equity of 20.98% and a net margin of 8.77%. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.79 EPS. equities analysts anticipate that Raytheon will post 7.61 EPS for the current year.

Raytheon declared that its Board of Directors has approved a share repurchase program on Wednesday, November 15th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 3rd will be paid a $0.7975 dividend. The ex-dividend date is Tuesday, January 2nd. This represents a $3.19 annualized dividend and a dividend yield of 1.62%. Raytheon’s payout ratio is 42.93%.

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Raytheon 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.

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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