Goldman Sachs Defense Stocks: Top 5 Stock Picks

2. RTX Corporation (NYSE:RTX)

Goldman Sachs’ Stake Value: $536,726,260

Number of Hedge Fund Holders: 56

RTX Corporation (NYSE:RTX), an aerospace and defense firm, offers systems and services to customers in the commercial, military, and government sectors worldwide. The company is divided into four segments – Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense. RTX Corporation (NYSE:RTX) is one of the top Goldman Sachs defense stocks. In the second quarter of 2023, Goldman Sachs held a position worth $536.7 million in RTX Corporation (NYSE:RTX). 

On July 25, RTX Corporation (NYSE:RTX) reported a Q2 non-GAAP EPS of $1.29 and a revenue of $18.32 billion, outperforming Wall Street estimates 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.”

Follow Rtx Corp (NYSE:RTX)