Smith Graham & Co. Investment Advisors LP Grows Position in Raytheon (NYSE:RTN)

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Smith Graham & Co. Investment Advisors LP raised its position in shares of Raytheon (NYSE:RTN) by 0.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,660 shares of the aerospace company’s stock after buying an additional 70 shares during the quarter. Smith Graham & Co. Investment Advisors LP’s holdings in Raytheon were worth $5,623,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC grew its holdings in Raytheon by 95.3% during the 3rd quarter. Sound Income Strategies LLC now owns 166 shares of the aerospace company’s stock valued at $33,000 after buying an additional 81 shares in the last quarter. First Financial Corp IN purchased a new position in shares of Raytheon in the 3rd quarter worth approximately $33,000. Berman Capital Advisors LLC boosted its holdings in shares of Raytheon by 74.6% in the 2nd quarter. Berman Capital Advisors LLC now owns 220 shares of the aerospace company’s stock worth $38,000 after purchasing an additional 94 shares during the period. LLBH Private Wealth Management LLC purchased a new position in shares of Raytheon in the 2nd quarter worth approximately $43,000. Finally, Boston Partners purchased a new position in shares of Raytheon in the 2nd quarter worth approximately $46,000. Institutional investors and hedge funds own 73.04% of the company’s stock.

Shares of RTN stock traded up $0.40 on Friday, reaching $199.75. 1,674,320 shares of the company’s stock were exchanged, compared to its average volume of 1,817,055. Raytheon has a 52 week low of $144.27 and a 52 week high of $205.28. The company has a current ratio of 1.46, a quick ratio of 1.35 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $55.52 billion, a PE ratio of 18.83, a P/E/G ratio of 1.59 and a beta of 0.87. The company’s fifty day simple moving average is $194.58 and its 200 day simple moving average is $183.68.

Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, July 25th. The aerospace company reported $2.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.61 by $0.31. Raytheon had a return on equity of 26.34% and a net margin of 10.96%. The firm had revenue of $7.16 billion during the quarter, compared to analyst estimates of $7.02 billion. During the same period last year, the company earned $2.45 EPS. Raytheon’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, sell-side analysts predict that Raytheon will post 11.73 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Wednesday, October 9th will be paid a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Tuesday, October 8th. Raytheon’s dividend payout ratio is currently 35.53%.

RTN has been the subject of a number of recent research reports. Credit Suisse Group upgraded Raytheon from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $188.00 to $230.00 in a report on Thursday, October 3rd. UBS Group lifted their target price on Raytheon from $205.00 to $215.00 and gave the stock a “neutral” rating in a report on Friday, September 13th. Barclays set a $215.00 target price on Raytheon and gave the stock a “hold” rating in a report on Tuesday, October 8th. Bank of America reiterated a “buy” rating and issued a $265.00 target price (up previously from $224.00) on shares of Raytheon in a report on Friday, July 26th. Finally, Buckingham Research cut Raytheon from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $265.00 to $195.00 in a report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $214.11.

In related news, VP Wesley D. Kremer sold 2,915 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $583,000.00. Following the completion of the sale, the vice president now directly owns 26,260 shares of the company’s stock, valued at approximately $5,252,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Frank R. Jimenez sold 1,054 shares of Raytheon stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $180.00, for a total value of $189,720.00. Following the sale, the vice president now directly owns 25,863 shares of the company’s stock, valued at $4,655,340. The disclosure for this sale can be found here. Insiders have sold a total of 20,769 shares of company stock valued at $3,970,850 over the last three months. 0.18% of the stock is owned by corporate insiders.

Raytheon Company 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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