Comerica Bank Lowers stake in Raytheon Company (RTN)

Raytheon Company (RTN) : Comerica Bank reduced its stake in Raytheon Company by 8.87% during the most recent quarter end. The investment management company now holds a total of 348,970 shares of Raytheon Company which is valued at $49,640,983 after selling 33,950 shares in Raytheon Company , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Raytheon Company makes up approximately 0.43% of Comerica Bank’s portfolio.

Other Hedge Funds, Including , Apg Asset Management N.v. boosted its stake in RTN in the latest quarter, The investment management firm added 131,821 additional shares and now holds a total of 786,964 shares of Raytheon Company which is valued at $111,945,629. Raytheon Company makes up approx 0.21% of Apg Asset Management N.v.’s portfolio.Rovida Advisors reduced its stake in RTN by selling 402,551 shares or 90.73% in the most recent quarter. The Hedge Fund company now holds 41,124 shares of RTN which is valued at $5,849,889. Raytheon Company makes up approx 3.49% of Rovida Advisors’s portfolio.Brown Advisory Inc boosted its stake in RTN in the latest quarter, The investment management firm added 4,617 additional shares and now holds a total of 19,017 shares of Raytheon Company which is valued at $2,661,619. Raytheon Company makes up approx 0.01% of Brown Advisory Inc’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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