5 Best Aerospace and Defense Stocks to Buy

Published on July 6, 2023 at 11:53 am by Muhammad Jamal Akbar in Lists

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1. TransDigm Group Incorporated (NYSE:TDG)

Number of Hedge Fund Holders: 67

Based in Cleveland, Ohio, TransDigm Group Incorporated (NYSE:TDG) is a leading global designer, producer, and supplier of highly engineered aircraft components for commercial and military aircraft. Its product offerings include actuators and controls, ignition systems and engine technology, specialized pumps and valves, power conditioning devices, and others.

On May 9, TransDigm Group Incorporated (NYSE:TDG) reported strong quarterly results for the three months ended April 1. Its net sales increased by 20% y-o-y to $1.6 billion while net income stood at $304 million.

During the same week, TransDigm Group Incorporated (NYSE:TDG) completed the acquisition of highly engineered testing and technology development services and systems provider Calspan Corporation for nearly $750 million in a cash transaction.

TransDigm Group Incorporated (NYSE:TDG) is the best aerospace and defense stock to buy now according to the number of hedge funds that held its shares as of March 31, 2023. The stock was owned by 67 prominent hedge funds out of the 943 tracked by Insider Monkey, with a total value of $5.6 billion. AltaRock Partners, Stockbridge Partners, and Matrix Capital Management, were the top 3 hedge fund shareholders of the stock with ownership of nearly $1.0 billion worth of shares each.