5 Best Defense Stocks to Buy for 2021

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1. Raytheon Technologies Corp (NYSE: RTX)

Raytheon Technologies Corp (NYSE: RTX) is the best defense stock to buy for 2021 according to hedge funds. In April, the company completed its merger with United Technologies, creating a defense behemoth with about $74 billion total sales. The company recently said it will buy rocket and missile propulsion systems company Aerojet Rocketdyne (NYSE:AJRD) for $4.4 billion.  Raytheon stock reached its nine-month high in December 2020 after the company’s board approved a $5 billion stock buyback program.

Out of the 816 elite hedge funds tracked by Insider Monkey, 55 held stakes in Raytheon as of the end of the third quarter, compared to 59 funds a quarter earlier. The total value of these stakes is $2.99 billion.

Please also see 15 Most Powerful Weapons In The World and 10 Best Cheap Stocks To Buy Now.

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