5 Best Aerospace Stocks To Buy

2. Raytheon Technologies Corporation (NYSE:RTX)

Number of Hedge Fund Holders: 55

Raytheon Technologies Corporation (NYSE:RTX) is one of the top aerospace stocks to monitor. The aerospace and defense company provides systems and services for the commercial, military, and government customers worldwide. It operates through four segments – Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense. On December 12, Raytheon Technologies Corporation (NYSE:RTX) announced that its board has authorized a new share buyback program of up to $6 billion.

On December 8, Citi analyst Jason Gursky initiated coverage of Raytheon Technologies Corporation (NYSE:RTX) with a Neutral rating and a $104 price target. The analyst is constructive on the outlook for Raytheon Technologies Corporation (NYSE:RTX) and both its commercial and defense end markets over the long-term.

According to Insider Monkey’s Q3 data, 55 hedge funds were bullish on Raytheon Technologies Corporation (NYSE:RTX), compared to 45 funds in the prior quarter. Ken Fisher’s Fisher Asset Management is the largest stakeholder of the company, with 8.5 million shares worth $702 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.”

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