8 Most Promising Robotics Stocks According to Hedge Funds

3. RTX Corporation (NYSE:RTX)

Number of Hedge Fund Holders: 54

RTX Corporation (NYSE:RTX) is a leading aerospace and defense company that has drone-based missile systems and counter-drone technologies. One of  RTX’s military robots is the “Coyote,” a drone used to track and shoot down enemy UAVs. RTX offers a wide range of advanced systems and services for commercial, military, and government customers globally. The company operates its services and products through three businesses, Collins Aerospace, Pratt & Whitney, and Raytheon.

RTX Corporation (NYSE:RTX) remains a major player in the military drone market and also remains a major manufacturer of radars, sensors, and electronic warfare equipment, and has a strong position in the global military drone market.

Lately, RTX Corporation (NYSE:RTX) has won three separate contracts worth $1.5 billion from the US armed forces. The biggest contract is worth $736.6 million, with the order of over 1,100 AIM-9X Sidewinder air-to-air missiles. Whereas, the second order is worth $525.5 million, supplying Evolved Seasparrow air defense guided missiles for the US Navy and its allies. The final order of $254.5 million was received for the maintenance of standard missiles, also used for air defense.

As we can see, RTX is progressing with its new advanced machinery and receiving major orders from the US government. During Q3 2024, RTX Corporation (NYSE:RTX) showed notable operational achievements, including an 8% increase in organic sales. By the end of Q3, RTX had an impressive $2 billion of free cash flow. After strong results in Q3, the company has raised its outlook for the full year 2024 and expects sales between $79.25 billion to $79.75 billion, while the EPS is anticipated to be between $5.50 and $5.58 per share.