12 Best Defense Stocks to Buy Right Now

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1. The Boeing Company (NYSE:BA)

Number of Hedge Fund Holders: 101

The Boeing Company (NYSE:BA) is among the 12 Best Defense Stocks to Buy Right Now. Families of four victims from June’s Air India crash have sued the aircraft manufacturer over the disaster that killed 260 people. Aerospace firm Honeywell is also a subject of the lawsuit.

The victims’ families have blamed the two companies for negligence and a faulty fuel cutoff switch. The flight en route to London had crashed shortly after takeoff from Ahmedabad on June 12.

The plaintiffs, in a complaint filed at the Delaware Superior Court on September 16, have said that the locking mechanism for the switch on The Boeing Company (NYSE:BA)’s 787-8 Dreamliner could be turned off inadvertently, resulting in a loss of fuel supply and thrust required for takeoff.

They argued that the two companies were well aware of the risk, given that Honeywell manufactured and installed the switch, and that the FAA warned in 2018 about the disengaged locking mechanisms on several aircraft of The Boeing Company (NYSE:BA).

Below is an excerpt from the complaint:

“Boeing effectively guaranteed that normal cockpit activity could result in inadvertent fuel cutoff. What did Honeywell and Boeing do to prevent the inevitable catastrophe? Nothing.”

Boeing declined to comment on the lawsuit on Wednesday, while Honeywell also did not immediately respond to requests for comment.

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READ NEXT: 15 Stocks ChatGPT Predicts Could Make You Wealthy in 5 Years and 11 Best Performing Defense Stocks to Buy Now.

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