Calton & Associates Inc. Acquires New Holdings in Raytheon (RTN)

Calton & Associates Inc. acquired a new stake in shares of Raytheon (NYSE:RTN) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,452 shares of the aerospace company’s stock, valued at approximately $265,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. WP Advisors LLC purchased a new stake in Raytheon during the first quarter valued at about $26,000. Athena Capital Advisors LLC purchased a new stake in Raytheon during the fourth quarter valued at about $26,000. Sontag Advisory LLC purchased a new stake in Raytheon during the fourth quarter valued at about $26,000. Truvestments Capital LLC purchased a new stake in Raytheon during the first quarter valued at about $35,000. Finally, Bremer Trust National Association purchased a new stake in Raytheon during the fourth quarter valued at about $33,000. 75.86% of the stock is currently owned by institutional investors and hedge funds.

In related news, VP Frank R. Jimenez sold 4,094 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $183.89, for a total value of $752,845.66. Following the sale, the vice president now directly owns 36,964 shares of the company’s stock, valued at $6,797,309.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Anthony F. O’brien sold 9,656 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $181.06, for a total transaction of $1,748,315.36. Following the completion of the sale, the vice president now directly owns 34,057 shares in the company, valued at $6,166,360.42. The disclosure for this sale can be found here. Insiders sold 21,657 shares of company stock worth $3,940,619 over the last ninety days. 0.18% of the stock is currently owned by insiders.

Shares of Raytheon stock opened at $177.43 on Monday. Raytheon has a 12-month low of $144.27 and a 12-month high of $214.76. The stock has a market capitalization of $50.08 billion, a PE ratio of 16.72, a PEG ratio of 1.35 and a beta of 0.99. The company has a current ratio of 1.43, a quick ratio of 1.37 and a debt-to-equity ratio of 0.36.

Raytheon (NYSE:RTN) last announced its quarterly earnings results on Thursday, April 25th. The aerospace company reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.45 by $0.32. Raytheon had a net margin of 11.11% and a return on equity of 26.27%. The firm had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.58 billion. During the same period in the prior year, the firm posted $2.20 earnings per share. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, analysts anticipate that Raytheon will post 11.58 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Wednesday, April 10th will be paid a $0.9425 dividend. This is an increase from Raytheon’s previous quarterly dividend of $0.87. This represents a $3.77 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Tuesday, April 9th. Raytheon’s dividend payout ratio (DPR) is currently 35.53%.

Several research firms have commented on RTN. Zacks Investment Research raised shares of Raytheon from a “hold” rating to a “buy” rating and set a $205.00 price objective on the stock in a report on Wednesday, April 17th. UBS Group downgraded shares of Raytheon from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $220.00 to $200.00 in a report on Wednesday, April 3rd. ValuEngine raised shares of Raytheon from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Susquehanna Bancshares began coverage on shares of Raytheon in a report on Thursday, January 10th. They set a “positive” rating and a $187.00 price objective on the stock. Finally, Argus reaffirmed a “buy” rating and set a $200.00 price objective on shares of Raytheon in a report on Friday, February 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. Raytheon presently has an average rating of “Buy” and an average price target of $209.92.

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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.

See Also: Earnings Per Share

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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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