Smith Graham & Co. Investment Advisors LP cut its stake in Raytheon Co. (NYSE:RTN) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,560 shares of the company’s stock after selling 230 shares during the period. Smith Graham & Co. Investment Advisors LP’s holdings in Raytheon were worth $4,970,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. Monetary Management Group Inc. raised its stake in shares of Raytheon by 840.0% in the first quarter. Monetary Management Group Inc. now owns 940 shares of the company’s stock valued at $115,000 after buying an additional 840 shares during the last quarter. Integrated Investment Consultants LLC raised its stake in shares of Raytheon by 11.5% in the second quarter. Integrated Investment Consultants LLC now owns 1,135 shares of the company’s stock valued at $154,000 after buying an additional 117 shares during the last quarter. Foundry Partners LLC bought a new stake in shares of Raytheon during the second quarter valued at approximately $201,000. Dowling & Yahnke LLC bought a new stake in shares of Raytheon during the second quarter valued at approximately $203,000. Finally, Barry Investment Advisors LLC bought a new stake in shares of Raytheon during the second quarter valued at approximately $206,000. 77.90% of the stock is owned by institutional investors.
Shares of Raytheon Co. (NYSE:RTN) traded down 2.03% during mid-day trading on Thursday, hitting $136.54. 1,801,150 shares of the stock traded hands. Raytheon Co. has a one year low of $106.25 and a one year high of $143.39. The stock has a 50 day moving average price of $139.80 and a 200-day moving average price of $133.58. The company has a market cap of $40.29 billion, a P/E ratio of 19.08 and a beta of 0.66.
Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, July 28th. The company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.64. The firm earned $6 billion during the quarter, compared to analysts’ expectations of $5.83 billion. Raytheon had a return on equity of 19.26% and a net margin of 9.02%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.65 EPS. On average, analysts forecast that Raytheon Co. will post $7.41 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Wednesday, October 5th will be given a dividend of $0.7325 per share. This represents a $2.93 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Monday, October 3rd. Raytheon’s dividend payout ratio is presently 40.86%.
Several equities research analysts recently commented on RTN shares. Jefferies Group reissued a “buy” rating on shares of Raytheon in a report on Wednesday, July 6th. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $151.00 price target for the company in a report on Monday, July 4th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Raytheon in a report on Thursday, June 9th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of Raytheon in a report on Tuesday, June 7th. Finally, Citigroup Inc. upped their target price on shares of Raytheon from $145.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, September 6th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $174.93.
In related news, Director Vernon E. Clark sold 2,540 shares of Raytheon stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $141.01, for a total transaction of $358,165.40. Following the completion of the sale, the director now owns 7,246 shares in the company, valued at approximately $1,021,758.46. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.21% of the company’s stock.
Raytheon Company Profile
Raytheon Company (Raytheon), together with its subsidiaries, is a technology company. The Company develops technologically integrated products, services and solutions in various markets, such as sensing; effects; command, control, communications, computers, cyber and intelligence (C5I); mission support, and cybersecurity.
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