Hamel Associates Exits Position in Raytheon Company (RTN)

Raytheon Company (RTN) : Hamel Associates has sold out all of its stake in Raytheon Company during the most recent quarter, according to the disclosure filed by the company on Aug 8, 2016 with the SEC. The investment management company has sold out 1,840 shares of Raytheon Company which is valued at $261,869.

Other Hedge Funds, Including , 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.Conning reduced its stake in RTN by selling 3,155 shares or 1.59% in the most recent quarter. The Hedge Fund company now holds 194,758 shares of RTN which is valued at $26,358,548. Raytheon Company makes up approx 1.09% of Conning’s portfolio.Founders Capital Management boosted its stake in RTN in the latest quarter, The investment management firm added 13 additional shares and now holds a total of 2,292 shares of Raytheon Company which is valued at $316,319. Raytheon Company makes up approx 0.17% of Founders Capital Management’s portfolio.

Raytheon Company opened for trading at $142.13 and hit $143.39 on the upside on Monday, eventually ending the session at $142.52, with a gain of 0.19% or 0.27 points. The heightened volatility saw the trading volume jump to 13,26,284 shares. Company has a market cap of $42,057 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 .

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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