Bessemer Group Inc Lowers stake in Raytheon Company (RTN)

Raytheon Company (RTN) : Bessemer Group Inc reduced its stake in Raytheon Company by 12.92% during the most recent quarter end. The investment management company now holds a total of 1,698,360 shares of Raytheon Company which is valued at $221.3 Million after selling 251,959 shares in Raytheon Company , the firm said in a disclosure report filed with the SEC on May 11, 2016.Raytheon Company makes up approximately 1.27% of Bessemer Group Inc’s portfolio.

Other Hedge Funds, Including , Teacher Retirement System Of Texas boosted its stake in RTN in the latest quarter, The investment management firm added 7,193 additional shares and now holds a total of 221,047 shares of Raytheon Company which is valued at $28.8 Million. Raytheon Company makes up approx 0.20% of Teacher Retirement System Of Texas’s portfolio.New York State Common Retirement Fund boosted its stake in RTN in the latest quarter, The investment management firm added 73,300 additional shares and now holds a total of 867,400 shares of Raytheon Company which is valued at $111.9 Million. Raytheon Company makes up approx 0.17% of New York State Common Retirement Fund’s portfolio. Newsquare Capital added RTN to its portfolio by purchasing 133 company shares during the most recent quarter which is valued at $16,805.Parsons Capital Management Incri boosted its stake in RTN in the latest quarter, The investment management firm added 20 additional shares and now holds a total of 2,421 shares of Raytheon Company which is valued at $305,893. Raytheon Company makes up approx 0.04% of Parsons Capital Management Incri’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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