Comerica Bank Lowers stake in Raytheon Company (RTN)

Raytheon Company (RTN) : Comerica Bank reduced its stake in Raytheon Company by 0.55% during the most recent quarter end. The investment management company now holds a total of 382,920 shares of Raytheon Company which is valued at $49.9 Million after selling 2,124 shares in Raytheon Company , the firm said in a disclosure report filed with the SEC on May 11, 2016.Raytheon Company makes up approximately 0.45% of Comerica Bank’s portfolio.

Other Hedge Funds, Including , Kwmg boosted its stake in RTN in the latest quarter, The investment management firm added 873 additional shares and now holds a total of 4,079 shares of Raytheon Company which is valued at $531,534. Raytheon Company makes up approx 0.32% of Kwmg’s portfolio.Mutual Of America Capital Management boosted its stake in RTN in the latest quarter, The investment management firm added 844 additional shares and now holds a total of 34,081 shares of Raytheon Company which is valued at $4.4 Million. Raytheon Company makes up approx 0.10% of Mutual Of America Capital Management’s portfolio.Mcf Advisors boosted its stake in RTN in the latest quarter, The investment management firm added 6 additional shares and now holds a total of 3,603 shares of Raytheon Company which is valued at $465,003. Raytheon Company makes up approx 0.12% of Mcf Advisors’s portfolio.Quantbot Technologies Lp boosted its stake in RTN in the latest quarter, The investment management firm added 2,825 additional shares and now holds a total of 54,634 shares of Raytheon Company which is valued at $6.9 Million. Raytheon Company makes up approx 1.09% of Quantbot Technologies Lp’s portfolio.

Raytheon Company opened for trading at $130.79 and hit $131.82 on the upside on Monday, eventually ending the session at $131.33, with a gain of 0.78% or 1.02 points. The heightened volatility saw the trading volume jump to 14,20,058 shares. Company has a market cap of $39,002 M.

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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