Jim Cramer Wants You to Check These 10 Stocks

6. Raytheon Technologies Corp . (NYSE:RTX)

Number of Hegde Fund Investors: 54

Jim Cramer highlighted Raytheon Technologies Corp . (NYSE:RTX) as a strong option for those interested in aerospace. He pointed out that Raytheon Technologies Corp . (NYSE:RTX) provides engines that are essential for safety, as they are designed to stay securely attached to the plane. This reliability is a key factor in the company’s appeal for aerospace investments.

“If you’re interested in aerospace, consider RTX, which provides engines that ideally stay attached to the plane—something crucial for safety.”

In the second quarter of 2024, Raytheon Technologies Corp . (NYSE:RTX) reported $18.4 billion in revenue, up 6% from the previous year, and earnings per share (EPS) of $1.98, surpassing analyst expectations by 8%. Raytheon Technologies Corp . (NYSE:RTX)’s backlog has grown to $64 billion, driven by new contracts and increased demand, including a notable $5 billion contract with the U.S. Department of Defense for advanced missile defense systems.

Raytheon Technologies Corp . (NYSE:RTX) is also making strides in technology with its new Hypersonic Strike Weapon system, positioning itself to benefit from the growing hypersonic weapons market. With the global defense sector expected to expand at a compound annual growth rate (CAGR) of 5.4% through 2028, Raytheon Technologies Corp . (NYSE:RTX) is well-positioned to capitalize on rising defense spending and modernization efforts worldwide. This blend of strong financial results, major contract wins, technological progress, and favorable market trends highlights Raytheon Technologies Corp . (NYSE:RTX)’s promising growth potential and reinforces its role as a leading player in the defense sector.