Burney Co Lowers stake in Raytheon Company (RTN)

Raytheon Company (RTN) : Burney Co reduced its stake in Raytheon Company by 1.16% during the most recent quarter end. The investment management company now holds a total of 131,837 shares of Raytheon Company which is valued at $18,753,813 after selling 1,541 shares in Raytheon Company , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Raytheon Company makes up approximately 1.29% of Burney Co’s portfolio.

Other Hedge Funds, Including , Vaughan David Investments Incil boosted its stake in RTN in the latest quarter, The investment management firm added 29 additional shares and now holds a total of 2,731 shares of Raytheon Company which is valued at $388,485. Raytheon Company makes up approx 0.02% of Vaughan David Investments Incil’s portfolio.Victory Capital Management Inc boosted its stake in RTN in the latest quarter, The investment management firm added 219 additional shares and now holds a total of 10,961 shares of Raytheon Company which is valued at $1,559,970. Raytheon Company makes up approx 0.01% of Victory Capital Management Inc’s portfolio.State Of New Jersey Common Pension Fund D reduced its stake in RTN by selling 75,000 shares or 20.0% in the most recent quarter. The Hedge Fund company now holds 300,000 shares of RTN which is valued at $42,204,000. Raytheon Company makes up approx 0.18% of State Of New Jersey Common Pension Fund D’s portfolio. 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.First Hawaiian Bank reduced its stake in RTN by selling 48 shares or 2.43% in the most recent quarter. The Hedge Fund company now holds 1,924 shares of RTN which is valued at $267,205. Raytheon Company makes up approx 0.05% of First Hawaiian Bank’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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