Marvin Palmer Associates Inc buys $3.8 Million stake in Raytheon Company (RTN)

Raytheon Company (RTN) : Marvin Palmer Associates Inc scooped up 9,000 additional shares in Raytheon Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 28,800 shares of Raytheon Company which is valued at $3.8 Million.Raytheon Company makes up approximately 4.35% of Marvin Palmer Associates Inc’s portfolio.

Other Hedge Funds, Including , Summit Securities Group sold out all of its stake in RTN during the most recent quarter. The investment firm sold 21,800 shares of RTN which is valued $2.8 Million.Suffolk Capital Management reduced its stake in RTN by selling 7,199 shares or 14.38% in the most recent quarter. The Hedge Fund company now holds 42,848 shares of RTN which is valued at $5.6 Million. Raytheon Company makes up approx 0.75% of Suffolk Capital Management’s portfolio.Nelson Roberts Investment Advisors reduced its stake in RTN by selling 105 shares or 25.61% in the most recent quarter. The Hedge Fund company now holds 305 shares of RTN which is valued at $39,363. Raytheon Company makes up approx 0.02% of Nelson Roberts Investment Advisors’s portfolio.Municipal Employees’ Retirement System Of Michigan boosted its stake in RTN in the latest quarter, The investment management firm added 40 additional shares and now holds a total of 12,040 shares of Raytheon Company which is valued at $1.6 Million. Raytheon Company makes up approx 0.10% of Municipal Employees’ Retirement System Of Michigan’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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