11 Best American Defense Stocks to Buy Now

9. BWX Technologies, Inc. (NYSE:BWXT)

Number of Hedge Fund Holders: 55

BWX Technologies, Inc. (NYSE:BWXT) is an aerospace and defense company focused on providing nuclear solutions for global security, environmental protection, clean energy, and space exploration. It operates 15 major operating sites in the US, UK, and Canada.

According to Insider Monkey’s database for Q4 2024, 55 hedge funds held a stake in the company, making it one of the best defense stocks to buy now. Balyasny Asset Management was the largest investor in BWX Technologies, Inc. (NYSE:BWXT), with holdings valued at over $102 million, as of December 31, 2024.

On February 24, BWX Technologies, Inc. (NYSE:BWXT) announced better-than-anticipated results for the fourth quarter of fiscal 2024. It reported a revenue of $746.3 million, growing 2.9% year-over-year. Net income stood at $71.1 million, improving from $66.3 million in the prior year. The company also provided an upbeat forecast for 2025, which has led to a bullish sentiment around the stock.

Last month, BWX Technologies, Inc. (NYSE:BWXT) was awarded contracts worth $2.1 billion to manufacture reactor components under the US Naval Nuclear Propulsion Program. The agreements will support the construction activities of the Ford-class aircraft carriers and the Columbia and Virginia class submarines.

In January, the company also secured contracts for two major nuclear energy projects valued at over C$1 billion. Under the first contract, BWX Technologies, Inc. (NYSE:BWXT) will manufacture 48 steam generators for the Pickering life extension program. It will build a reactor pressure vessel (RPV) for GE Hitachi Nuclear Energy’s BWRX-300 SMR as part of the second contract.