Jefferies Believes Raytheon (NYSE: RTN) Won’t Stop Here

By Carrie Williams

Jefferies analyst Howard Rubel reiterated a Buy rating on Raytheon (NYSE: RTN) on June 23 and set a price target of $172. The company’s shares opened today at $162.53, close to its 52-week high of $165.33.

According to TipRanks.com, Rubel is a top 25 analyst with an average return of 18.2% and a 81.7% success rate. Rubel covers the Consumer Goods sector, focusing on stocks such as Teledyne Technologies Inc, General Dynamics Corp, and Orbital Sciences Corp.

Raytheon has an analyst consensus of Strong Buy, with a price target consensus of $174.50.

Based on Raytheon’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $6 billion and quarterly net profit of $506 million. In comparison, last year the company earned revenue of $5.76 billion and had a net profit of $429 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Raytheon Co. engages in the development and manufacture of defense and security solutions. It operates through the following segments: Integrated Defense Systems; Intelligence, Information and Services; Missile Systems; Space and Airborne Systems; Forcepoint; and Corporate.