Despite the Surprise Trump Win, Our Long-Term Thesis on Defense Contractors Remains Intact
Donald Trump won the U.S. presidential election last night and Republicans are set to maintain control of the Senate and House. We expect defense names to move upward over the short- to mid-term and outperform the market. We anticipate investors will view pure play defense names like Raytheon, Lockheed Martin, L-3, and Northrop Grumman, as safer investments within a turbulent market. General Dynamics should also outperform. However, its business jet segment (27% of total revenue but 41% of opera...Raytheon, together with its subsidiaries, is a technology company, focused on defense and other government markets. The company has five segments: Integrated Defense Systems, which is engaged in integrated air and missile defense; large land- and sea-based radar solutions; command, control, communications, computers, cyber and intelligence solutions; Intelligence, Information and Services, which provides technical services to intelligence, defense, federal and commercial customers; Missile Systems, which produces missile and combat systems; Space and Airborne Systems, which develops integrated sensor and communication systems for missions; and Forcepoint, which develops cybersecurity products.
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