5 Best Defense Stocks To Buy Now

3. RTX Corporation (NYSE:RTX)

Number of Hedge Fund Holders: 56

RTX Corporation (NYSE:RTX), a company specializing in aerospace and defense, provides systems and services to clientele in the global commercial, military, and government sectors. The organization is structured into four key segments: Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense.

On July 25, RTX Corporation (NYSE:RTX) announced a Q2 non-GAAP EPS of $1.29 and revenue of $18.32 billion, surpassing Wall Street projections by $0.11 and $620 million, respectively.

According to Insider Monkey’s second quarter database, 56 hedge funds were bullish on RTX Corporation (NYSE:RTX), compared to 48 funds in the prior quarter. Ken Griffin’s Citadel Investment Group is the largest stakeholder of the company, with 2.8 million shares worth $276 million.

Carillon Tower made the following comment about Raytheon Technologies Corporation (NYSE:RTX) in its Q3 2022 investor letter:

“Raytheon Technologies Corporation (NYSE:RTX) announced strong results led by strength in its commercial segment, but weakness in its defense business led to investor consternation. Management guided to a recovery in this segment, citing both transitory supply chain issues and continued strong demand.”

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