King Wealth Management Group Lowers stake in Raytheon Company (RTN)

Raytheon Company (RTN) : King Wealth Management Group reduced its stake in Raytheon Company by 3.52% during the most recent quarter end. The investment management company now holds a total of 8,048 shares of Raytheon Company which is valued at $1,144,828 after selling 294 shares in Raytheon Company , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Raytheon Company makes up approximately 0.59% of King Wealth Management Group’s portfolio.

Other Hedge Funds, Including , Johnson Financial Group boosted its stake in RTN in the latest quarter, The investment management firm added 2,187 additional shares and now holds a total of 14,523 shares of Raytheon Company which is valued at $2,065,897. Raytheon Company makes up approx 0.28% of Johnson Financial Group’s portfolio.William Blair Investment Management boosted its stake in RTN in the latest quarter, The investment management firm added 53,232 additional shares and now holds a total of 299,522 shares of Raytheon Company which is valued at $42,627,971. Raytheon Company makes up approx 0.16% of William Blair Investment Management’s portfolio. Fny Managed Accounts sold out all of its stake in RTN during the most recent quarter. The investment firm sold 2,500 shares of RTN which is valued $338,350.Retirement Systems Of Alabama boosted its stake in RTN in the latest quarter, The investment management firm added 658 additional shares and now holds a total of 310,110 shares of Raytheon Company which is valued at $41,970,287. Raytheon Company makes up approx 0.24% of Retirement Systems Of Alabama’s portfolio. Telemus Capital sold out all of its stake in RTN during the most recent quarter. The investment firm sold 3,445 shares of RTN which is valued $476,030.

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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