Avalon Advisors LLC lifted its stake in shares of Raytheon (NYSE:RTN) by 2,247.2% in the 4th quarter, Holdings Channel reports. The firm owned 77,198 shares of the aerospace company’s stock after buying an additional 73,909 shares during the quarter. Avalon Advisors LLC’s holdings in Raytheon were worth $11,838,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Athena Capital Advisors LLC purchased a new stake in shares of Raytheon during the 4th quarter worth approximately $26,000. Bremer Trust National Association purchased a new stake in shares of Raytheon during the 4th quarter worth approximately $33,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Raytheon during the 4th quarter worth approximately $34,000. Proficio Capital Partners LLC grew its stake in Raytheon by 42.9% in the 4th quarter. Proficio Capital Partners LLC now owns 223 shares of the aerospace company’s stock valued at $34,000 after buying an additional 67 shares in the last quarter. Finally, Capital Investment Advisory Services LLC purchased a new position in Raytheon in the 4th quarter valued at approximately $39,000. Institutional investors own 74.81% of the company’s stock.

Shares of NYSE:RTN opened at $180.25 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 0.41. Raytheon has a one year low of $144.27 and a one year high of $229.75. The firm has a market capitalization of $50.79 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 1.37 and a beta of 1.00.

Raytheon (NYSE:RTN) last announced its quarterly earnings results on Thursday, January 31st. The aerospace company reported $2.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.89 by $0.04. Raytheon had a net margin of 10.75% and a return on equity of 25.81%. The firm had revenue of $7.36 billion during the quarter, compared to the consensus estimate of $7.50 billion. During the same period last year, the firm earned $2.03 EPS. On average, equities analysts expect that Raytheon will post 11.59 earnings per share for the current fiscal year.

In other Raytheon news, CAO Michael J. Wood sold 3,501 shares of the firm’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $183.86, for a total value of $643,693.86. Following the completion of the transaction, the chief accounting officer now directly owns 19,217 shares of the company’s stock, valued at approximately $3,533,237.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Frank R. Jimenez sold 4,094 shares of the firm’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $183.89, for a total transaction of $752,845.66. Following the completion of the transaction, the vice president now directly owns 36,964 shares of the company’s stock, valued at $6,797,309.96. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

RTN has been the subject of a number of recent research reports. ValuEngine lowered shares of Raytheon from a “hold” rating to a “sell” rating in a research note on Thursday, January 10th. Argus reiterated a “buy” rating and issued a $200.00 price objective on shares of Raytheon in a research note on Friday, February 1st. Susquehanna Bancshares initiated coverage on shares of Raytheon in a research note on Thursday, January 10th. They issued a “positive” rating and a $187.00 price objective for the company. Barclays reduced their price objective on shares of Raytheon from $239.00 to $195.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 4th. Finally, Alembic Global Advisors upgraded shares of Raytheon from a “neutral” rating to an “overweight” rating and set a $214.00 price objective for the company in a research note on Tuesday, February 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $217.31.

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About Raytheon

Raytheon Company develops integrated products, services, and solutions for defense and other government markets worldwide. It operates through five segments: Integrated Defense Systems (IDS); Intelligence, Information and Services (IIS); Missile Systems (MS); Space and Airborne Systems (SAS); and Forcepoint.

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Institutional Ownership by Quarter for Raytheon (NYSE:RTN)

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