13 Best Defense Stocks to Buy According to Billionaires

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

Number of Billionaires: 12

Billionaire Holdings: $140,866,646

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.

On February 19, the company announced that it 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, BWX Technologies, Inc. (NYSE:BWXT) secured contracts for two major nuclear energy projects valued at over C$1 billion. The company will manufacture 48 steam generators for the Pickering life extension program as part of the first contract. Under the second contract, it will build a reactor pressure vessel (RPV) for GE Hitachi Nuclear Energy’s BWRX-300 SMR.

On February 24, BWX Technologies, Inc. (NYSE:BWXT) announced better-than-anticipated results for the fourth quarter of fiscal 2024 and provided an upbeat forecast for 2025, which has led to a general bullish sentiment around the company. Wall Street analysts have a consensus Strong Buy rating for the stock and anticipate a 27% surge, on average, in its share price.

BWX Technologies, Inc. (NYSE:BWXT) is one of the best defense stocks to buy according to billionaires. According to Insider Monkey’s database for Q4 2024, 12 billionaires held a stake in the company.