Raytheon (RTN) Holdings Trimmed by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. lessened its holdings in shares of Raytheon (NYSE:RTN) by 15.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,775 shares of the aerospace company’s stock after selling 1,059 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Raytheon were worth $1,052,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in RTN. Sumitomo Mitsui Asset Management Company LTD boosted its stake in shares of Raytheon by 1.5% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 31,271 shares of the aerospace company’s stock valued at $5,693,000 after buying an additional 458 shares during the period. Raymond James & Associates boosted its stake in shares of Raytheon by 6.9% in the first quarter. Raymond James & Associates now owns 592,664 shares of the aerospace company’s stock valued at $107,911,000 after buying an additional 38,273 shares during the period. Cypress Capital Management LLC boosted its stake in shares of Raytheon by 0.7% in the first quarter. Cypress Capital Management LLC now owns 60,972 shares of the aerospace company’s stock valued at $11,102,000 after buying an additional 450 shares during the period. Alerus Financial NA boosted its stake in shares of Raytheon by 16.4% in the first quarter. Alerus Financial NA now owns 22,071 shares of the aerospace company’s stock valued at $4,019,000 after buying an additional 3,111 shares during the period. Finally, Moors & Cabot Inc. boosted its stake in shares of Raytheon by 22.9% in the first quarter. Moors & Cabot Inc. now owns 13,167 shares of the aerospace company’s stock valued at $2,385,000 after buying an additional 2,456 shares during the period. 76.91% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently issued reports on the company. Wolfe Research set a $205.00 price target on Raytheon and gave the company a “buy” rating in a research note on Friday, April 26th. Zacks Investment Research cut Raytheon from a “buy” rating to a “hold” rating in a research note on Monday, April 29th. Jefferies Financial Group boosted their price target on Raytheon from $202.00 to $216.00 and gave the company a “buy” rating in a research note on Monday, May 6th. UBS Group cut Raytheon from a “buy” rating to a “neutral” rating and cut their price target for the company from $220.00 to $200.00 in a research note on Wednesday, April 3rd. Finally, Alembic Global Advisors upgraded Raytheon from a “neutral” rating to an “overweight” rating and set a $214.00 price target for the company in a research note on Tuesday, February 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $210.36.

NYSE RTN traded up $0.53 on Tuesday, hitting $181.20. 20,896 shares of the company’s stock were exchanged, compared to its average volume of 1,903,608. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.31. Raytheon has a 52 week low of $144.27 and a 52 week high of $214.76. The stock has a market capitalization of $49.81 billion, a PE ratio of 17.06, a PEG ratio of 1.35 and a beta of 0.96.

Raytheon (NYSE:RTN) last released its earnings results on Thursday, April 25th. The aerospace company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.32. Raytheon had a return on equity of 26.27% and a net margin of 11.11%. The firm had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.58 billion. During the same period in the prior year, the company earned $2.20 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, sell-side analysts expect that Raytheon will post 11.61 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Shareholders of record on Wednesday, April 10th were paid a dividend of $0.9425 per share. The ex-dividend date was Tuesday, April 9th. This is a boost from Raytheon’s previous quarterly dividend of $0.87. This represents a $3.77 annualized dividend and a yield of 2.08%. Raytheon’s dividend payout ratio is presently 35.53%.

In other news, VP Michael J. Wood sold 427 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $177.58, for a total transaction of $75,826.66. Following the completion of the transaction, the vice president now directly owns 13,165 shares in the company, valued at $2,337,840.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Michael J. Wood sold 543 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $180.72, for a total transaction of $98,130.96. Following the transaction, the chief accounting officer now owns 15,081 shares of the company’s stock, valued at $2,725,438.32. The disclosure for this sale can be found here. Insiders have sold 14,062 shares of company stock valued at $2,544,079 over the last 90 days. Corporate 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 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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