Jim Cramer’s Bold Predictions About These 10 Industrial Stocks

1. RTX Corporation (NYSE:RTX)

Number of Hedge Fund Holders In Q3 2024: 72

Date of Cramer’s Comments: 8-20-24

Performance Since Then: -1.05%

RTX Corporation (NYSE:RTX) is a key American defense manufacturer that makes and sells critical equipment such as aircraft engines for fighter jets and missiles. The firm’s criticality appears to have served it well in 2024 as not only are the shares up by 37% year-to-date but they have also avoided the December sell-off kicked off by worries about the incoming Trump administration’s potential attempts to change the defense procurement status quo. RTX Corporation (NYSE:RTX) has also benefited from its robust backlog of $60 billion and $17 billion in bookings which provide investors with comfort about the firm’s future cash flows. Here’s what Cramer had to say about the stock in August:

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

RTX was an industrial stock Cramer was waiting to come down in October. While we acknowledge the potential of RTX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than RTX but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

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