Peak Asset Management Lowers stake in Raytheon Company (RTN)

Raytheon Company (RTN) : Peak Asset Management reduced its stake in Raytheon Company by 0.44% during the most recent quarter end. The investment management company now holds a total of 48,772 shares of Raytheon Company which is valued at $6,861,245 after selling 214 shares in Raytheon Company , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Raytheon Company makes up approximately 1.40% of Peak Asset Management’s portfolio.

Other Hedge Funds, Including , Essex Investment Management Co reduced its stake in RTN by selling 1,938 shares or 3.26% in the most recent quarter. The Hedge Fund company now holds 57,452 shares of RTN which is valued at $7,775,554. Raytheon Company makes up approx 1.23% of Essex Investment Management Co’s portfolio.Meeder Asset Management Inc reduced its stake in RTN by selling 2,072 shares or 14.79% in the most recent quarter. The Hedge Fund company now holds 11,942 shares of RTN which is valued at $1,619,335. Raytheon Company makes up approx 0.15% of Meeder Asset Management Inc’s portfolio.Sumitomo Life Insurance Co reduced its stake in RTN by selling 498 shares or 3.4% in the most recent quarter. The Hedge Fund company now holds 14,160 shares of RTN which is valued at $1,954,222. Raytheon Company makes up approx 0.26% of Sumitomo Life Insurance Co’s portfolio.

Raytheon Company closed down -0.8 points or -0.57% at $139.96 with 13,90,480 shares getting traded on Monday. Post opening the session at $140.53, the shares hit an intraday low of $139.77 and an intraday high of $140.73 and the price fluctuated in this range throughout the day.Shares ended Monday 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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