5 Best Robotics Stocks to Buy According to Hedge Funds

2. Raytheon Technologies Corporation (NYSE:RTX)

Number of Hedge Fund Holders: 55

Raytheon Technologies Corporation (NYSE:RTX) is an Arlington, Virginia-based company operating in the aerospace and defense segment. The company is aggressively working on developing a robotic exoskeleton suit for the US Army. The suit enhances the human operator’s agility, endurance, and strength.

Kristine Liwag at Morgan Stanley gave Raytheon Technologies Corporation (NYSE:RTX) stock an Overweight rating with a target price of $119 in an update issued to investors on October 26. The analyst highlighted that the underperformance of the stock price has been due to a weaker outlook on defense spending and challenges related to the availability of labor. This has caused the stock to trade at a discount against its competitors, providing an attractive opportunity for investors to go long on one of the best robotics stocks. Raytheon Technologies Corporation’s (NYSE:RTX) current price levels do not account for the expected upside of the aviation industry as global traveling recovers.

Here’s what Carillon Tower Advisers said 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.”