11 Best Aerospace and Defense Stocks to Buy Right Now

8. General Dynamics Corporation (NYSE:GD)

Number of Hedge Fund Holders: 48 

General Dynamics Corporation (NYSE:GD) is one of the best aerospace and defense stocks to buy right now. The company operates through four main segments including Aerospace, Marine Systems, Combat Systems, and Technologies Segment. The product portfolio ranges from business jets and shipbuilding, particularly for military applications to vehicles and weapons for land-based military operations.

The demand for its products remains robust, the company delivered 28 aircraft during the fiscal third quarter of 2024, with 24 large cabins and 4 G700s. This is a significant improvement to the 22 large cabins and no G700 delivered last year. As a result, General Dynamics Corporation (NYSE:GD) grew its revenue by 10.4% and operating earnings by 11.7%, to reach $11.7 billion and $1.2 billion, respectively. Its Aerospace segment is taking the lead with quarterly revenue up 22% year-over-year, driven by a 23% improvement in new aircraft sales during the quarter.

Moreover, its Combat systems segment is experiencing strong margin expansions and landed some notable awards during the quarter. It secured significant contracts related to the production of 155mm artillery components for the US Army, with a maximum potential value of $2.1 billion. Recently, the company also reported a contract valued at $885 million for various munitions and ordnance, which carries a maximum potential value of $1.7 billion. These contracts are part of a larger set of defense orders that totaled $10.5 billion in the quarter, reflecting strong demand in their Combat Systems and Technologies segments. The overall company-wide order stands at $92.6 billion indicating future growth prospects of General Dynamics Corporation (NYSE:GD) and making it one of the best aerospace and defense stocks to buy right now.