Altfest L J Co Inc Lowers stake in Raytheon Company (RTN)

Raytheon Company (RTN) : Altfest L J Co Inc reduced its stake in Raytheon Company by 1.09% during the most recent quarter end. The investment management company now holds a total of 12,387 shares of Raytheon Company which is valued at $1.6 Million after selling 137 shares in Raytheon Company , the firm said in a disclosure report filed with the SEC on May 13, 2016.Raytheon Company makes up approximately 1.68% of Altfest L J Co Inc’s portfolio.

Other Hedge Funds, Including , Vanguard Group Inc boosted its stake in RTN in the latest quarter, The investment management firm added 690,671 additional shares and now holds a total of 19,761,239 shares of Raytheon Company which is valued at $2,575.1 Million. Raytheon Company makes up approx 0.17% of Vanguard Group Inc’s portfolio.Sasco Capital Inc Ct reduced its stake in RTN by selling 120,007 shares or 7.15% in the most recent quarter. The Hedge Fund company now holds 1,557,349 shares of RTN which is valued at $202.9 Million. Raytheon Company makes up approx 5.06% of Sasco Capital Inc Ct’s portfolio.Shell Asset Management Co reduced its stake in RTN by selling 19,137 shares or 41.18% in the most recent quarter. The Hedge Fund company now holds 27,339 shares of RTN which is valued at $3.6 Million. Raytheon Company makes up approx 0.09% of Shell Asset Management Co’s portfolio.Monetary Management Group Inc boosted its stake in RTN in the latest quarter, The investment management firm added 840 additional shares and now holds a total of 940 shares of Raytheon Company which is valued at $122,491. Raytheon Company makes up approx 0.06% of Monetary Management Group Inc’s portfolio.Renaissance Group reduced its stake in RTN by selling 8 shares or 0.43% in the most recent quarter. The Hedge Fund company now holds 1,843 shares of RTN which is valued at $237,858. Raytheon Company makes up approx 0.01% of Renaissance Group’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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