Renaissance Investment Group adds Raytheon Company (RTN) to its portfolio

Raytheon Company (RTN) : Renaissance Investment Group added new position in Raytheon Company during the most recent quarter end. The investment management firm now holds 24,558 shares of Raytheon Company which is valued at $3,391,460 , the company said in a statement filed on Oct 13, 2016 with the SEC.Raytheon Company makes up approximately 1.66% of Renaissance Investment Group’s portfolio.

Other Hedge Funds, Including , Creative Planning boosted its stake in RTN in the latest quarter, The investment management firm added 5,609 additional shares and now holds a total of 24,067 shares of Raytheon Company which is valued at $3,280,332. Raytheon Company makes up approx 0.02% of Creative Planning’s portfolio.Central Bank Trust Co boosted its stake in RTN in the latest quarter, The investment management firm added 31 additional shares and now holds a total of 156 shares of Raytheon Company which is valued at $21,338. Raytheon Company makes up approx 0.01% of Central Bank Trust Co’s portfolio. Lvm Capital Management Ltdmi sold out all of its stake in RTN during the most recent quarter. The investment firm sold 1,527 shares of RTN which is valued $209,398.

Raytheon Company closed down -1 points or -0.73% at $136.3 with 11,91,374 shares getting traded on Tuesday. Post opening the session at $137, the shares hit an intraday low of $136.02 and an intraday high of $137.455 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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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