Marvin Palmer Associates Inc Lowers stake in Raytheon Company (RTN)

Raytheon Company (RTN) : Marvin Palmer Associates Inc reduced its stake in Raytheon Company by 34.72% during the most recent quarter end. The investment management company now holds a total of 18,800 shares of Raytheon Company which is valued at $2,674,300 after selling 10,000 shares in Raytheon Company , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Raytheon Company makes up approximately 3.17% of Marvin Palmer Associates Inc’s portfolio.

Other Hedge Funds, Including , Frontier Wealth Management sold out all of its stake in RTN during the most recent quarter. The investment firm sold 1,680 shares of RTN which is valued $238,980.Geneva Advisors boosted its stake in RTN in the latest quarter, The investment management firm added 259 additional shares and now holds a total of 4,203 shares of Raytheon Company which is valued at $598,171. Raytheon Company makes up approx 0.01% of Geneva Advisors’s portfolio.Integrated Wealth Management reduced its stake in RTN by selling 145 shares or 7.16% in the most recent quarter. The Hedge Fund company now holds 1,879 shares of RTN which is valued at $264,338. Raytheon Company makes up approx 0.10% of Integrated Wealth Management’s portfolio.Sanders Capital boosted its stake in RTN in the latest quarter, The investment management firm added 9,071 additional shares and now holds a total of 1,131,091 shares of Raytheon Company which is valued at $157,821,127. Raytheon Company makes up approx 1.26% of Sanders Capital’s portfolio.Woodley Farra Manion Portfolio Management Inc boosted its stake in RTN in the latest quarter, The investment management firm added 8,930 additional shares and now holds a total of 30,272 shares of Raytheon Company which is valued at $4,182,985. Raytheon Company makes up approx 0.63% of Woodley Farra Manion Portfolio Management Inc’s portfolio.

Raytheon Company closed down -0.09 points or -0.06% at $142.5 with 14,07,595 shares getting traded on Friday. Post opening the session at $142.22, the shares hit an intraday low of $141.88 and an intraday high of $142.695 and the price fluctuated in this range throughout the day.Shares ended Friday 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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