Argyle Capital Management Lowers stake in Raytheon Company (RTN)

Raytheon Company (RTN) : Argyle Capital Management reduced its stake in Raytheon Company by 2.74% during the most recent quarter end. The investment management company now holds a total of 39,022 shares of Raytheon Company which is valued at $4,930,430 after selling 1,100 shares in Raytheon Company , the firm said in a disclosure report filed with the SEC on Apr 26, 2016.Raytheon Company makes up approximately 2.21% of Argyle Capital Management’s portfolio.

Raytheon Company opened for trading at $126.72 and hit $127.88 on the upside on Monday, eventually ending the session at $127.14, with a gain of 0.63% or 0.79 points. The heightened volatility saw the trading volume jump to 22,26,959 shares. Company has a market cap of $37,758 M.

Other Hedge Funds, Including , Rothschild Investment Corp Il boosted its stake in RTN in the latest quarter, The investment management firm added 554 additional shares and now holds a total of 18,217 shares of Raytheon Company which is valued at $2,301,718. Raytheon Company makes up approx 0.30% of Rothschild Investment Corp Il’s portfolio.Baring Asset Management Ltd reduced its stake in RTN by selling 3,717 shares or 4.87% in the most recent quarter. The Hedge Fund company now holds 72,605 shares of RTN which is valued at $9,173,642. Raytheon Company makes up approx 0.76% of Baring Asset Management Ltd’s portfolio.Hm Capital Management boosted its stake in RTN in the latest quarter, The investment management firm added 10 additional shares and now holds a total of 1,974 shares of Raytheon Company which is valued at $249,514. Raytheon Company makes up approx 0.27% of Hm Capital Management’s portfolio.First Manhattan Co reduced its stake in RTN by selling 585 shares or 0.2% in the most recent quarter. The Hedge Fund company now holds 296,996 shares of RTN which is valued at $37,540,294. Raytheon Company makes up approx 0.23% of First Manhattan Co’s portfolio.Oakbrook Investments reduced its stake in RTN by selling 850 shares or 2.28% in the most recent quarter. The Hedge Fund company now holds 36,425 shares of RTN which is valued at $4,577,894. Raytheon Company makes up approx 0.29% of Oakbrook Investments’s portfolio.

On the company’s financial health, Raytheon Company reported $1.43 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $1.38. The company had revenue of $5763.00 million for the quarter, compared to analysts expectations of $5460.33 million. The company’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.78 EPS.

Many Wall Street Analysts have commented on Raytheon Company. Company shares were Reiterated by Barclays on May 2, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 127 from a previous price target of $125 .Company shares were Reiterated by RBC Capital Mkts on Apr 29, 2016 to “Top Pick”, Firm has raised the Price Target to $ 148 from a previous price target of $147 .Raytheon Company was Initiated by Guggenheim to “Buy” on Apr 5, 2016.

Raytheon Company together with its subsidiaries is a technology Company that specializes in defense and other Government markets. The Company develops products services and solutions in markets: sensing; effects; command control communications and intelligence (C3I); and mission support as well as cyber and information security. The Company operates in four segments: Integrated Defense Systems (IDS); Intelligence Information and Services; Missile Systems and Space and Airborne Systems. The Company serves both domestic and international customers as both a prime contractor and subcontractor on a portfolio of defense and related programs primarily for Government customers. The Company’s products include Global Integrated Sensors Integrated Air & Missile Defense Cybersecurity and Special Missions Global Training Solutions Land Warfare Systems Advanced Missile Systems Tactical Airborne Systems Advanced Missile Systems and Electronic Warfare Systems.

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