5 War Stocks to Buy Now According to Hedge Funds

3. Raytheon Technologies Corporation (NYSE:RTX)

Number of Hedge Fund Holders: 50 

Raytheon Technologies Corporation (NYSE:RTX) is an aerospace and defense firm. The stock has climbed more than 9% since the Russian invasion of Ukraine. Despite supply chain pressures, the company is likely to ride the boom in defense spending over the next few months as countries ramp up their military budgets to protect against Russian threats, especially in parts of Europe close to Ukraine that are US allies. 

Hedge funds have been loading up on Raytheon Technologies Corporation (NYSE:RTX) stock as well. At the end of the fourth quarter of 2021, 50 hedge funds in the database of Insider Monkey held stakes worth $2.3 billion in Raytheon Technologies Corporation (NYSE:RTX), compared to 48 in the preceding quarter worth $2.2 billion.

In its Q4 2020 investor letter, Davis Funds, an asset management firm, highlighted a few stocks and Raytheon Technologies Corporation (NYSE:RTX) was one of them. Here is what the fund said:

“In today’s uncertain economy, we believe we have found such businesses trading at bargain prices in two sectors: industrials and financials. In the industrial space, concerns about the impact of the economic downturn on short-term profitability led to a wave of selling in a select group of leaders with durable competitive advantages, long records of profitability and bright long-term prospects. Companies like Raytheon Technologies is a wonderful example of attractive investments in this sector.”