Bessemer Group Inc buys $261,413,394 stake in Raytheon Company (RTN)

Raytheon Company (RTN) : Bessemer Group Inc scooped up 139,344 additional shares in Raytheon Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 1,837,704 shares of Raytheon Company which is valued at $261,413,394.Raytheon Company makes up approximately 1.40% of Bessemer Group Inc’s portfolio.

Other Hedge Funds, Including , Baldwin Brothers Incma added RTN to its portfolio by purchasing 450 company shares during the most recent quarter which is valued at $64,013. Raytheon Company makes up approx 0.01% of Baldwin Brothers Incma’s portfolio. Cypress Capital Management added RTN to its portfolio by purchasing 9,865 company shares during the most recent quarter which is valued at $1,388,597. Raytheon Company makes up approx 0.45% of Cypress Capital Management’s portfolio.Highstreet Asset Management boosted its stake in RTN in the latest quarter, The investment management firm added 5,768 additional shares and now holds a total of 8,496 shares of Raytheon Company which is valued at $1,152,058. Raytheon Company makes up approx 0.39% of Highstreet Asset Management’s portfolio.

Raytheon Company closed down -1.47 points or -1.03% at $141.18 with 13,99,982 shares getting traded on Tuesday. Post opening the session at $142.88, the shares hit an intraday low of $141.13 and an intraday high of $143.13 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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 .

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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