Philadelphia Trust Co Lowers stake in Raytheon Company (RTN)

Raytheon Company (RTN) : Philadelphia Trust Co reduced its stake in Raytheon Company by 20.21% during the most recent quarter end. The investment management company now holds a total of 163,727 shares of Raytheon Company which is valued at $23,290,166 after selling 41,462 shares in Raytheon Company , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Raytheon Company makes up approximately 1.91% of Philadelphia Trust Co’s portfolio.

Other Hedge Funds, Including , Monetary Management Group Inc boosted its stake in RTN in the latest quarter, The investment management firm added 305 additional shares and now holds a total of 1,245 shares of Raytheon Company which is valued at $177,101. Raytheon Company makes up approx 0.08% of Monetary Management Group Inc’s portfolio.Aspiriant reduced its stake in RTN by selling 159 shares or 0.42% in the most recent quarter. The Hedge Fund company now holds 37,390 shares of RTN which is valued at $5,321,345. Raytheon Company makes up approx 0.44% of Aspiriant’s portfolio.Great West Life Assurance Co Can reduced its stake in RTN by selling 43,607 shares or 14.43% in the most recent quarter. The Hedge Fund company now holds 258,560 shares of RTN which is valued at $36,374,221. Raytheon Company makes up approx 0.11% of Great West Life Assurance Co Can’s portfolio.World Asset Management Inc reduced its stake in RTN by selling 63 shares or 0.21% in the most recent quarter. The Hedge Fund company now holds 29,932 shares of RTN which is valued at $4,210,834. Raytheon Company makes up approx 0.16% of World Asset Management Inc’s portfolio.Canandaigua National Bank Trust Co reduced its stake in RTN by selling 419 shares or 10.84% in the most recent quarter. The Hedge Fund company now holds 3,446 shares of RTN which is valued at $466,382. Raytheon Company makes up approx 0.13% of Canandaigua National Bank Trust Co’s portfolio.

Raytheon Company opened for trading at $140.61 and hit $141.94 on the upside on Monday, eventually ending the session at $141.4, with a gain of 0.34% or 0.48 points. The heightened volatility saw the trading volume jump to 9,15,535 shares. Company has a market cap of $41,726 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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