Schafer Cullen Capital Management Inc Lowers stake in Raytheon Company (RTN)

Raytheon Company (RTN) : Schafer Cullen Capital Management Inc reduced its stake in Raytheon Company by 3.63% during the most recent quarter end. The investment management company now holds a total of 1,489,915 shares of Raytheon Company which is valued at $194.2 Million after selling 56,114 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 Schafer Cullen Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Halbert Hargroverussell reduced its stake in RTN by selling 573 shares or 23.42% in the most recent quarter. The Hedge Fund company now holds 1,874 shares of RTN which is valued at $244,201. Raytheon Company makes up approx 0.09% of Halbert Hargroverussell’s portfolio.Hudson Canyon Investment Counselors reduced its stake in RTN by selling 679 shares or 6.08% in the most recent quarter. The Hedge Fund company now holds 10,496 shares of RTN which is valued at $1.4 Million. Raytheon Company makes up approx 1.55% of Hudson Canyon Investment Counselors’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. Farmers Merchants Investments Inc sold out all of its stake in RTN during the most recent quarter. The investment firm sold 10 shares of RTN which is valued $1,291.Candriam Luxembourg S.c.a. boosted its stake in RTN in the latest quarter, The investment management firm added 614 additional shares and now holds a total of 14,272 shares of Raytheon Company which is valued at $1.8 Million. Raytheon Company makes up approx 0.05% of Candriam Luxembourg S.c.a.’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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