In this article, we will take a look at the 5 best military drone stocks to invest in. To see more such companies, go directly to 11 Best Military Drone Stocks To Invest In.
5. Northrop Grumman Corporation (NYSE:NOC)
Number of Hedge Fund Holders: 40
Northrop Grumman Corporation (NYSE:NOC), a global aerospace and defense firm, ranks 5th in our list of the best military drone stocks to invest in. It manufactures the RQ-4 Global Hawk unmanned aircraft system which provides intelligence, surveillance, and reconnaissance information. Northrop Grumman Corporation (NYSE:NOC)’ Autonomous Systems include MQ-4C Triton, Bat Unmanned Air System, NATO Alliance Ground Surveillance, and others. Recently, the US Air Force selected the company to train the Air Force personnel to operate the first Battlefield Airborne Communications Node platform and payload. It reported Q3 earnings of $6.18 per share that beat analysts’ expectations of $5.81.
40 out of the 910 hedge funds profiled by the Insider Monkey database had held a stake in Northrop Grumman Corporation (NYSE:NOC) at the end of June 30. During that time, the largest stakeholder was Ken Griffin’s Citadel Investment Group which owned about 744,000 stakes of Northrop Grumman Corporation (NYSE:NOC) that were valued at $339.2 million.
4. Lockheed Martin Corporation (NYSE:LMT)
Number of Hedge Fund Holders: 52
Lockheed Martin Corporation (NYSE:LMT) has been developing advanced autonomous systems for the US military since its foundation in 1912. The security and aerospace firm manufactures Procerus Technologies Indago, an advanced unmanned aerial system, which gets deployed in roughly 2 minutes. Lockheed Martin Corporation (NYSE:LMT) sells its Indago drone to customers globally including militaries. In December last year, Lockheed Martin Corporation (NYSE:LMT) won a 129 million euros ($136.3 million) contract to supply 59 Indago 4 drones to the UK Army.
Insider Monkey took a look at Q2 hedge fund portfolios for Lockheed Martin Corporation (NYSE:LMT) and found that 52 had stakes in the firm. John Overdeck and David Siegel’s Two Sigma Advisors was the largest stakeholder of Lockheed Martin Corporation (NYSE:LMT) which bought 791,000 stakes that were valued at $364.5 million.
3. RTX Corporation (NYSE:RTX)
Number of Hedge Fund Holders: 56
Ranked 3rd in our list of the best military drone stocks to invest in, RTX Corporation (NYSE:RTX) is one of the largest US defense contractors. It develops a small unmanned aircraft system, Coyote. The US military chose the Coyote drone for a near-term counter-UAS solution. The defense contractor also sells its products to commercial, military, and government clients internationally. In Q3, it posted earnings of $1.25 per share that beat analysts’ projection of $1.19. During the Q3 earnings call, RTX Corporation (NYSE:RTX)’s Chairman and CEO Greg Hayes told investors that the US State Department approved to sell Patriot air and missile defense systems to Spain that may include roughly $1 billion of Raytheon content. The company was recently awarded a $118 million US Army contract for drone target sensors.
Out of 910 hedge funds profiled by Insider Monkey, 56 had stakes in RTX Corporation (NYSE:RTX). The largest stakeholder was Ken Griffin’s Citadel Investment Group which owned about 2.8 million stakes of the firm that were valued at $276.1 million.
2. The Boeing Company (NYSE:BA)
Number of Hedge Fund Holders: 57
The Boeing Company (NYSE:BA) is a Virginia-based manufacturer of commercial jetliners, satellites, military aircraft, human space flight and launch systems, and missile defense globally. Ranked 2nd in our list of the best military drone stocks to invest in, The Boeing Company (NYSE:BA) is developing an unmanned aircraft system, MQ-25, for the US Navy. The firm also makes ScanEagle, a long-endurance unmanned aerial system. It reported revenue of $18.1 billion in Q3.
Insider Monkey took a look at 910 hedge funds portfolios for Q2 2023 investments and found out that 57 had a stake in The Boeing Company (NYSE:BA). The largest stakeholder was Ken Griffin’s Citadel Investment Group which had 4.4 million stakes of The Boeing Company (NYSE:BA) that were valued at $928.8 million.
1. Honeywell International Inc. (NASDAQ:HON)
Number of Hedge Fund Holders: 61
Honeywell International Inc. (NASDAQ:HON) is a global technology and a manufacturing conglomerate with a market capitalization of $121 billion. The firm provides navigation sensors to power LiDAR USA’s drones and ground vehicles for digital mapping. The North Carolina-based company also collaborated with Aeroscout for providing the HGuide n580 inertial measurement unit for mapping and surveying equipment on its unmanned aerial vehicles. Since decades, Honeywell International Inc. (NASDAQ:HON) has been providing certified systems to enhance advanced air mobility vehicles’ performance. The firm’s T-53 engine empowers the K-MAX Unmanned Aircraft System, a unit of the K-MAX heavy-lift helicopter.
At the end of June 30, Honeywell International Inc. (NASDAQ:HON) had 61 hedge funds investors out of 910 funds tracked by Insider Monkey database. Benjamin A. Smith’s Laurion Capital Management was the largest stakeholder with 2.1 million stakes that were valued at $436.9 million.
Disclosure: None. You can also take a look at 12 Best Booming Stocks to Buy Now According to Hedge Funds and 13 Best Real Estate and Realty Stocks To Buy According To Hedge Funds.
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