Deroy & Devereaux Private Investment Counsel INC Decreased Stake in Raytheon Co (NYSE:RTN) by $6.53 Million as Shares Rose


Deroy & Devereaux Private Investment Counsel Inc decreased its stake in Raytheon Co (NYSE:RTN) by 36.14% based on its latest 2016Q2 regulatory filing with the SEC. Deroy & Devereaux Private Investment Counsel Inc sold 53,546 shares as the company’s stock rose 0.02% with the market. The institutional investor held 94,614 shares of the industrial machinery and components company at the end of 2016Q2, valued at $11.60 million, down from 148,160 at the end of the previous reported quarter. Deroy & Devereaux Private Investment Counsel Inc who had been investing in Raytheon Co for a number of months, seems to be less bullish one the $40.84 billion market cap company. The stock is up 0.45% or $0.62 hitting $137.54, despite the negative news. About 275,577 shares traded hands. Raytheon Company (NYSE:RTN) has risen 8.80% since February 8, 2016 and is uptrending. It has underperformed by 7.69% the S&P500.

Deroy & Devereaux Private Investment Counsel Inc, which manages about $945.37M and $732.27 million US Long portfolio, upped its stake in Tower International Inc (NYSE:TOWR) by 153,951 shares to 778,242 shares, valued at $21.17 million in 2016Q2, according to the filing.

Deroy & Devereaux Private Investment Counsel Inc is a Michigan-based institutional investor with more than $945.37 million AUM in November, 2014. Taken from Deroy & Devereaux Private Investment Counsel latest Adv, the fund reported to have 15 full and part-time employees. Among which 6 performing investment advisory and research functions. The institutional investor had more than 100 clients.

The institutional sentiment is 1.22 in Q2 2016. Its the same as in 2016Q1. The ratio is without change, as 59 funds sold all RTN shares owned while 295 reduced positions. only 92 funds bought stakes while 341 increased positions. They now own 226.41 million shares or 4.12% less from 236.13 million shares in 2016Q1.

Marvin & Palmer Associates Inc holds 3.47% of its portfolio in RTN for 18,800 shares. Nepsis Capital Management Inc. owns 43,927 shares or 3.4% of their US portfolio. Moreover, Cookson Peirce & Co Inc has 3.34% invested in the company for 165,197 shares. The New York-based Cullen Capital Management Llc has invested 3.34% in the stock. Tirschwell & Loewy Inc, a New York-based fund reported 138,841 shares.

Out of 12 analysts covering Raytheon Company (NYSE:RTN), 9 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 75% are positive. Raytheon Company has been the topic of 23 analyst reports since September 17, 2015 according to StockzIntelligence Inc. Stifel Nicolaus maintained the stock on July 29 with “Buy” rating.

Raytheon Company , together with its subsidiaries, is a technology company. The company has a market cap of $40.84 billion. The Firm develops technologically integrated products, services and solutions in various markets, such as sensing; effects; command, control, communications, computers, cyber and intelligence (C5I); mission support, and cybersecurity. It has a 19.28 P/E ratio. It operates in five divisions: Integrated Defense Systems (IDS); Intelligence, Information and Services (IIS); Missile Systems (MS); Space and Airborne Systems (SAS), and Forcepoint.

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