Washington Trust Bank Lowers stake in Raytheon Company (RTN)

Raytheon Company (RTN) : Washington Trust Bank reduced its stake in Raytheon Company by 1.22% during the most recent quarter end. The investment management company now holds a total of 39,693 shares of Raytheon Company which is valued at $5,015,211 after selling 489 shares in Raytheon Company , the firm said in a disclosure report filed with the SEC on Apr 25, 2016.Raytheon Company makes up approximately 1.27% of Washington Trust Bank’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 , Hudson Valley Investment Advisors Inc Adv boosted its stake in RTN in the latest quarter, The investment management firm added 1,100 additional shares and now holds a total of 12,390 shares of Raytheon Company which is valued at $1,565,477. Raytheon Company makes up approx 0.51% of Hudson Valley Investment Advisors Inc Adv’s portfolio.Old Point Trust Financial Services N A reduced its stake in RTN by selling 832 shares or 1.78% in the most recent quarter. The Hedge Fund company now holds 45,973 shares of RTN which is valued at $5,810,987. Raytheon Company makes up approx 3.58% of Old Point Trust Financial Services N A’s portfolio.First Quadrant L Pca boosted its stake in RTN in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 108,000 shares of Raytheon Company which is valued at $13,651,200. Raytheon Company makes up approx 0.29% of First Quadrant L Pca’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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