Smith Graham & Co. Investment Advisors LP Boosts Position in Raytheon (RTN)

Smith Graham & Co. Investment Advisors LP increased its holdings in shares of Raytheon (NYSE:RTN) by 1.0% in the first quarter, HoldingsChannel reports. The firm owned 29,800 shares of the aerospace company’s stock after purchasing an additional 300 shares during the quarter. Smith Graham & Co. Investment Advisors LP’s holdings in Raytheon were worth $5,426,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Investors Research Corp bought a new position in shares of Raytheon during the 1st quarter worth approximately $60,000. Howland Capital Management LLC lifted its holdings in shares of Raytheon by 4.2% during the first quarter. Howland Capital Management LLC now owns 4,923 shares of the aerospace company’s stock worth $896,000 after buying an additional 197 shares in the last quarter. Horan Capital Advisors LLC. acquired a new stake in shares of Raytheon during the first quarter worth $127,000. CWM LLC lifted its holdings in shares of Raytheon by 121.2% during the first quarter. CWM LLC now owns 48,139 shares of the aerospace company’s stock worth $8,765,000 after buying an additional 26,380 shares in the last quarter. Finally, Gyroscope Capital Management Group LLC lifted its holdings in shares of Raytheon by 8.2% during the first quarter. Gyroscope Capital Management Group LLC now owns 1,908 shares of the aerospace company’s stock worth $349,000 after buying an additional 144 shares in the last quarter. 75.81% of the stock is owned by institutional investors and hedge funds.

NYSE:RTN opened at $187.58 on Wednesday. The company has a current ratio of 1.46, a quick ratio of 1.37 and a debt-to-equity ratio of 0.41. The stock has a market cap of $51.51 billion, a PE ratio of 17.68, a PEG ratio of 1.39 and a beta of 0.99. Raytheon has a 1-year low of $144.27 and a 1-year high of $229.75.

Raytheon (NYSE:RTN) last released its quarterly earnings data on Thursday, January 31st. The aerospace company reported $2.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.89 by $0.04. The firm had revenue of $7.36 billion during the quarter, compared to the consensus estimate of $7.50 billion. Raytheon had a return on equity of 25.81% and a net margin of 10.75%. During the same quarter in the previous year, the company posted $2.03 earnings per share. As a group, sell-side analysts anticipate that Raytheon will post 11.59 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Tuesday, April 9th. This is a boost from Raytheon’s previous quarterly dividend of $0.87. Raytheon’s dividend payout ratio is currently 35.53%.

A number of equities research analysts have recently weighed in on RTN shares. Zacks Investment Research downgraded Raytheon from a “buy” rating to a “hold” rating in a report on Monday, December 31st. ValuEngine cut Raytheon from a “hold” rating to a “sell” rating in a research report on Thursday, January 10th. Susquehanna Bancshares started coverage on Raytheon in a research report on Thursday, January 10th. They issued a “positive” rating and a $187.00 target price on the stock. Citigroup decreased their target price on Raytheon from $230.00 to $208.00 and set a “buy” rating on the stock in a research report on Monday, January 14th. Finally, Argus reiterated a “buy” rating and issued a $200.00 target price on shares of Raytheon in a research report on Friday, February 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. Raytheon presently has an average rating of “Buy” and an average price target of $210.33.

In other Raytheon news, CAO Michael J. Wood sold 3,501 shares of the firm’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $183.86, for a total value of $643,693.86. Following the sale, the chief accounting officer now owns 19,217 shares of the company’s stock, valued at approximately $3,533,237.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Michael J. Wood sold 427 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $177.58, for a total value of $75,826.66. Following the completion of the sale, the vice president now directly owns 13,165 shares in the company, valued at approximately $2,337,840.70. The disclosure for this sale can be found here. Insiders have sold a total of 21,657 shares of company stock worth $3,940,619 in the last ninety days. Insiders own 0.18% of the company’s stock.

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Raytheon Company Profile

Raytheon Company develops integrated products, services, and solutions for 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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