Smith Graham & Co. Investment Advisors LP decreased its stake in Raytheon Company (NYSE:RTN) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,820 shares of the aerospace company’s stock after selling 340 shares during the period. Smith Graham & Co. Investment Advisors LP’s holdings in Raytheon were worth $5,300,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barometer Capital Management Inc. raised its position in Raytheon by 35.3% in the first quarter. Barometer Capital Management Inc. now owns 226,810 shares of the aerospace company’s stock valued at $34,589,000 after buying an additional 59,210 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new position in Raytheon during the first quarter valued at $328,000. Trust Department MB Financial Bank N A raised its position in Raytheon by 2.8% in the first quarter. Trust Department MB Financial Bank N A now owns 2,055 shares of the aerospace company’s stock valued at $313,000 after buying an additional 55 shares in the last quarter. Johanson Financial Advisors Inc. purchased a new position in Raytheon during the first quarter valued at $357,000. Finally, Anderson Hoagland & Co. raised its position in Raytheon by 0.5% in the first quarter. Anderson Hoagland & Co. now owns 16,286 shares of the aerospace company’s stock valued at $2,484,000 after buying an additional 85 shares in the last quarter. Institutional investors own 74.72% of the company’s stock.
Raytheon Company (NYSE:RTN) traded down 0.405% during mid-day trading on Wednesday, reaching $178.495. 291,478 shares of the company’s stock were exchanged. Raytheon Company has a 52-week low of $132.89 and a 52-week high of $181.05. The stock has a market cap of $51.81 billion, a price-to-earnings ratio of 24.654 and a beta of 0.59. The company has a 50-day moving average of $171.38 and a 200-day moving average of $160.10.
Raytheon (NYSE:RTN) last announced its quarterly earnings data on Thursday, July 27th. The aerospace company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.15. The business had revenue of $6.28 billion during the quarter, compared to analyst estimates of $6.24 billion. Raytheon had a net margin of 8.68% and a return on equity of 20.74%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the firm posted $2.38 EPS. Equities research analysts anticipate that Raytheon Company will post $7.59 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 3rd. Stockholders of record on Wednesday, July 5th were given a dividend of $0.7975 per share. The ex-dividend date was Friday, June 30th. This represents a $3.19 dividend on an annualized basis and a dividend yield of 1.78%. Raytheon’s dividend payout ratio is currently 43.94%.
RTN has been the topic of several recent analyst reports. Stifel Nicolaus boosted their price objective on shares of Raytheon from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Deutsche Bank AG boosted their price objective on shares of Raytheon from $156.00 to $160.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. Zacks Investment Research upgraded shares of Raytheon from a “hold” rating to a “buy” rating and set a $175.00 price objective on the stock in a research note on Monday, May 1st. Vetr lowered shares of Raytheon from a “buy” rating to a “hold” rating and set a $166.27 price objective on the stock. in a research note on Tuesday, May 9th. Finally, Jefferies Group LLC restated a “buy” rating and set a $172.00 price objective on shares of Raytheon in a research note on Tuesday, May 23rd. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $183.01.
In other news, Director Vernon E. Clark sold 829 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $180.19, for a total transaction of $149,377.51. Following the completion of the transaction, the director now directly owns 7,588 shares in the company, valued at approximately $1,367,281.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert E. Beauchamp bought 1,162 shares of the stock in a transaction dated Monday, July 31st. The shares were purchased at an average price of $171.99 per share, with a total value of $199,852.38. Following the completion of the transaction, the director now directly owns 4,303 shares in the company, valued at approximately $740,072.97. The disclosure for this purchase can be found here. Insiders have sold a total of 16,740 shares of company stock valued at $2,730,129 over the last quarter. Corporate insiders own 0.19% of the company’s stock.
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.
Receive News & Ratings for Raytheon Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raytheon Company and related companies with MarketBeat.com's FREE daily email newsletter.