United Bank Va buys $2,711,672 stake in Raytheon Company (RTN)

Raytheon Company (RTN) : United Bank Va scooped up 5,434 additional shares in Raytheon Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 25, 2016. The investment management firm now holds a total of 20,036 shares of Raytheon Company which is valued at $2,711,672.Raytheon Company makes up approximately 2.55% of United Bank Va’s portfolio.

Other Hedge Funds, Including , Barry Investment Advisors added RTN to its portfolio by purchasing 1,512 company shares during the most recent quarter which is valued at $208,671. Raytheon Company makes up approx 0.08% of Barry Investment Advisors’s portfolio.Campbell Newman Asset Management Inc reduced its stake in RTN by selling 12,035 shares or 9.54% in the most recent quarter. The Hedge Fund company now holds 114,097 shares of RTN which is valued at $15,845,791. Raytheon Company makes up approx 2.81% of Campbell Newman Asset Management Inc’s portfolio.

Raytheon Company opened for trading at $138.01 and hit $140.44 on the upside on Friday, eventually ending the session at $139.53, with a gain of 1.06% or 1.47 points. The heightened volatility saw the trading volume jump to 34,42,328 shares. Company has a market cap of $41,438 M.

On the company’s financial health, Raytheon Company reported $1.85 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.77. The company had revenue of $6035.00 million for the quarter, compared to analysts expectations of $5832.99 million. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.65 EPS.

Many Wall Street Analysts have commented on Raytheon Company. Company shares were Reiterated by Stifel on Jul 29, 2016 to “Buy”, Firm has raised the Price Target to $ 160 from a previous price target of $140 .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 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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