Ropes Wealth Advisors Lowers stake in Raytheon Company (RTN)

Raytheon Company (RTN) : Ropes Wealth Advisors reduced its stake in Raytheon Company by 4.72% during the most recent quarter end. The investment management company now holds a total of 39,090 shares of Raytheon Company which is valued at $5,563,289 after selling 1,938 shares in Raytheon Company , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Raytheon Company makes up approximately 1.89% of Ropes Wealth Advisors’s portfolio.

Other Hedge Funds, Including , Rnc Capital Management added RTN to its portfolio by purchasing 3,725 company shares during the most recent quarter which is valued at $504,142. Raytheon Company makes up approx 0.05% of Rnc Capital Management’s portfolio. Id Management As added RTN to its portfolio by purchasing 6,000 company shares during the most recent quarter which is valued at $828,060. Raytheon Company makes up approx 0.25% of Id Management As’s portfolio.Northstar Group boosted its stake in RTN in the latest quarter, The investment management firm added 15 additional shares and now holds a total of 4,017 shares of Raytheon Company which is valued at $557,881. Raytheon Company makes up approx 0.41% of Northstar Group’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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *