10 Stocks Jim Cramer Believes Will Soar

2. Raytheon Technologies Corp (NYSE:RTX)

Number of Hedge Fund Investors: 54

Jim Cramer shares his thoughts on Raytheon Technologies Corp (NYSE:RTX), a defense stock that faced a significant drop due to a recall of certain engines. During this downturn, Raytheon Technologies Corp (NYSE:RTX) bought back a large amount of its own stock, a move Cramer praises as one of Greg Hayes’ greatest achievements.

“Well, let me say this about RTX. When the stock went down really badly because of the recall of certain engines, the company bought a ton of stock. It was one of the greatest things Greg Hayes has ever done. Now Greg has just stepped down, and Chris Calio is in charge. I think he’s going to do a good job. At 21 times earnings, I like it very much. I like defense stocks, and this one is my favorite.”

Raytheon Technologies Corp (NYSE:RTX)’s broad portfolio, including advanced missile systems, avionics, and satellite technologies, is well-suited to benefit from increased global defense spending and the rising need for advanced aerospace solutions.

Raytheon Technologies Corp (NYSE:RTX)’s substantial order backlog reflects strong demand for its products and provides a clear path for future revenue growth. Its ongoing investment in research and development drives innovation in key areas such as hypersonic weapons and cybersecurity, giving it a competitive advantage. Moreover, Raytheon Technologies Corp (NYSE:RTX)’s strategic acquisitions, like its merger with United Technologies, have broadened its capabilities and market presence.