Westwood Holdings Group Inc. Reduces Position in Raytheon (NYSE:RTN)

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Westwood Holdings Group Inc. reduced its stake in shares of Raytheon (NYSE:RTN) by 12.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 420,908 shares of the aerospace company’s stock after selling 59,606 shares during the quarter. Westwood Holdings Group Inc. owned about 0.15% of Raytheon worth $90,840,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RTN. Nuveen Asset Management LLC raised its holdings in Raytheon by 1.7% in the first quarter. Nuveen Asset Management LLC now owns 14,256 shares of the aerospace company’s stock worth $3,077,000 after purchasing an additional 243 shares during the period. Rampart Investment Management Company LLC raised its holdings in shares of Raytheon by 187.6% during the first quarter. Rampart Investment Management Company LLC now owns 10,217 shares of the aerospace company’s stock worth $2,205,000 after acquiring an additional 6,665 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of Raytheon by 2.7% during the first quarter. Commonwealth Equity Services LLC now owns 105,854 shares of the aerospace company’s stock worth $22,845,000 after acquiring an additional 2,817 shares during the period. PCJ Investment Counsel Ltd. raised its holdings in shares of Raytheon by 95.9% during the first quarter. PCJ Investment Counsel Ltd. now owns 14,500 shares of the aerospace company’s stock worth $3,129,000 after acquiring an additional 7,100 shares during the period. Finally, Baird Financial Group Inc. raised its holdings in shares of Raytheon by 3.1% during the first quarter. Baird Financial Group Inc. now owns 62,682 shares of the aerospace company’s stock worth $13,528,000 after acquiring an additional 1,908 shares during the period. 72.69% of the stock is currently owned by institutional investors and hedge funds.

RTN opened at $193.18 on Friday. Raytheon has a fifty-two week low of $160.20 and a fifty-two week high of $229.75. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.52 and a current ratio of 1.62. The company has a market cap of $55.42 billion, a price-to-earnings ratio of 23.58, a price-to-earnings-growth ratio of 1.70 and a beta of 0.69.

Raytheon (NYSE:RTN) last posted its earnings results on Thursday, April 26th. The aerospace company reported $2.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.10 by $0.10. Raytheon had a net margin of 8.40% and a return on equity of 22.69%. The firm had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same period in the previous year, the firm posted $1.74 EPS. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. equities research analysts forecast that Raytheon will post 9.87 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 2nd. Stockholders of record on Wednesday, July 11th will be paid a $0.8675 dividend. This represents a $3.47 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Tuesday, July 10th. Raytheon’s dividend payout ratio is currently 45.54%.

In other news, VP Rebecca R. Rhoads sold 12,054 shares of the company’s stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $212.09, for a total value of $2,556,532.86. Following the sale, the vice president now directly owns 26,266 shares of the company’s stock, valued at approximately $5,570,755.94. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Michael J. Wood sold 621 shares of the company’s stock in a transaction on Monday, June 4th. The shares were sold at an average price of $212.13, for a total transaction of $131,732.73. Following the completion of the sale, the chief accounting officer now directly owns 14,462 shares in the company, valued at $3,067,824.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,916 shares of company stock worth $3,373,281. Insiders own 0.19% of the company’s stock.

RTN has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of Raytheon from a “buy” rating to a “hold” rating in a research report on Monday, March 12th. Barclays assumed coverage on shares of Raytheon in a research report on Thursday, March 29th. They issued an “equal weight” rating and a $239.00 price objective for the company. ValuEngine raised shares of Raytheon from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Morgan Stanley cut their target price on shares of Raytheon from $245.00 to $238.00 and set an “overweight” rating for the company in a research note on Thursday, April 12th. Finally, Cowen restated a “buy” rating and set a $235.00 target price on shares of Raytheon in a research note on Tuesday, April 17th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $220.23.

Raytheon 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.

Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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