Ropes Wealth Advisors Lowers stake in Raytheon Company (RTN)

Raytheon Company (RTN) : Ropes Wealth Advisors reduced its stake in Raytheon Company by 1.34% during the most recent quarter end. The investment management company now holds a total of 41,028 shares of Raytheon Company which is valued at $5.3 Million after selling 557 shares in Raytheon Company , the firm said in a disclosure report filed with the SEC on May 12, 2016.Raytheon Company makes up approximately 2.37% of Ropes Wealth Advisors’s portfolio.

Other Hedge Funds, Including , Twin Capital Management Inc added RTN to its portfolio by purchasing 5,940 company shares during the most recent quarter which is valued at $774,041. Raytheon Company makes up approx 0.06% of Twin Capital Management Inc’s portfolio.Gideon Capital Advisors reduced its stake in RTN by selling 4,930 shares or 29.93% in the most recent quarter. The Hedge Fund company now holds 11,542 shares of RTN which is valued at $1.5 Million. Raytheon Company makes up approx 1.88% of Gideon Capital Advisors’s portfolio.Cibc Asset Management Inc boosted its stake in RTN in the latest quarter, The investment management firm added 312 additional shares and now holds a total of 28,013 shares of Raytheon Company which is valued at $3.7 Million. Raytheon Company makes up approx 0.03% of Cibc Asset Management Inc’s portfolio.Verity Verity reduced its stake in RTN by selling 1,031 shares or 3.06% in the most recent quarter. The Hedge Fund company now holds 32,652 shares of RTN which is valued at $4.1 Million. Raytheon Company makes up approx 1.74% of Verity Verity’s portfolio.

Raytheon Company opened for trading at $129.69 and hit $129.7 on the upside on Friday, eventually ending the session at $129.34, with a gain of 0.09% or 0.11 points. The heightened volatility saw the trading volume jump to 30,02,687 shares. Company has a market cap of $38,411 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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