Boston Private Wealth buys $20 Million stake in Raytheon Company (RTN)

Raytheon Company (RTN) : Boston Private Wealth scooped up 7,950 additional shares in Raytheon Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 153,537 shares of Raytheon Company which is valued at $20 Million.Raytheon Company makes up approximately 0.82% of Boston Private Wealth’s portfolio.

Other Hedge Funds, Including , Van Eck Associates Corp boosted its stake in RTN in the latest quarter, The investment management firm added 325 additional shares and now holds a total of 2,093 shares of Raytheon Company which is valued at $272,739.Folger Nolan Fleming Douglas Capital Management Inc boosted its stake in RTN in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 2,900 shares of Raytheon Company which is valued at $377,899. Raytheon Company makes up approx 0.07% of Folger Nolan Fleming Douglas Capital Management Inc’s portfolio.Ftb Advisors reduced its stake in RTN by selling 6,982 shares or 53.48% in the most recent quarter. The Hedge Fund company now holds 6,074 shares of RTN which is valued at $791,503. Raytheon Company makes up approx 0.09% of Ftb Advisors’s portfolio.Cypress Asset Management Inctx boosted its stake in RTN in the latest quarter, The investment management firm added 165 additional shares and now holds a total of 30,935 shares of Raytheon Company which is valued at $4 Million. Raytheon Company makes up approx 0.80% of Cypress Asset Management Inctx’s portfolio. United Bank added RTN to its portfolio by purchasing 21,559 company shares during the most recent quarter which is valued at $2.7 Million. Raytheon Company makes up approx 1.23% of United Bank’s portfolio.

Raytheon Company closed down -0.27 points or -0.21% at $129.78 with 14,86,724 shares getting traded on Wednesday. Post opening the session at $130.35, the shares hit an intraday low of $129.31 and an intraday high of $130.75 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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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