13 Best Defense Stocks to Buy According to Billionaires

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2. RTX Corporation (NYSE:RTX)

Number of Billionaires: 17

Billionaire Holdings: $3,137,353,172

RTX Corporation (NYSE:RTX) is a giant in the global aerospace and defense industry, providing systems and services to commercial, military, and government clients. The company operates through three main businesses: Collins Aerospace, Pratt & Whitney, and Raytheon.

According to Insider Monkey’s database for Q4 2024, 17 billionaires had investments in the company, with a combined stake value of more than $3.13 billion. Regular awards of high-value contracts have made it an attractive stock for investors.

Earlier this year, RTX Corporation (NYSE:RTX) clinched a $946 million deal to provide additional Patriot air and missile defense systems to Romania, inclusive of radars, missiles, and control stations. During the fourth quarter of 2024, the company was awarded two contracts from the US Navy valued at over $1.3 billion for the AIM-9X SIDEWINDER missiles and the Next Generation Jammer Mid-Band (NGJ-MB) system.

On February 28, RTX Corporation (NYSE:RTX) announced that its Collins Aerospace business had successfully tested a demonstrator of the Enhanced Power and Cooling System (EPACS), which will offer increased cooling to enhance capabilities of the F-35. The new technology is set to rival Honeywell as the supplier of a critical onboard system for the stealth fighter.

During its Q4 2024 earnings call on January 28, RTX Corporation (NYSE:RTX) reported stellar results for fiscal 2024, with adjusted sales of $80.8 billion, growing 9% year-over-year. Adjusted EPS was logged at $5.73, up 13% from last year. The company returned $3.7 billion of capital to shareholders during the year and is heading into fiscal 2025 with a backlog of $218 billion.

RTX Corporation (NYSE:RTX) is one of the best defense stocks to buy now, with Wall Street analysts having a consensus Buy rating for the stock with an average share price upside potential of 10%.

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