Why These Defense Stocks Are Gaining This Week

6. RTX Corporation (NYSE:RTX)

Weekly Gains: 6.70%

RTX Corporation (NYSE:RTX) is an aerospace and defense company that provides advanced systems and services to commercial, military, and government clients. It is among the defense stocks that are gaining this week.

On February 28, the company announced that its Collins Aerospace business had successfully tested a demonstrator of the Enhanced Power and Cooling System (EPACS), which will offer increased cooling to enhance capabilities of the F-35. RTX Corporation (NYSE:RTX) is confident that the new technology will rival Honeywell as the supplier of a critical onboard system for the stealth fighter.

RTX Corporation (NYSE:RTX) also recently announced the successful flight testing completion of the first-ever AI/ML-powered Radar Warning Receiver for a fourth-generation aircraft. The new technology will enhance aircrew survivability and facilitate the deployment of AI/ML capabilities.

The stock has risen 6.70% over the past week, with year-to-date returns of 15.65%.