5 Best Aerospace Stocks To Buy

4. Raytheon Technologies Corporation (NYSE:RTX)

Number of Hedge Fund Holders: 51

Raytheon Technologies Corporation (NYSE:RTX) was incorporated in 1934 and is headquartered in Arlington, Virginia. It is an aerospace and defense company that specializes in systems and services for the commercial, military, and government customers worldwide. It operates through four segments – Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense. Raytheon Technologies Corporation (NYSE:RTX) is one of the best aerospace stocks to monitor. 

On February 17, Raytheon Technologies Corporation (NYSE:RTX)’s Collins Aerospace division was awarded a $135 million contract by the U.S. Air Force Life Cycle Management Center to produce state-of-the-art propellers for C-130 planes. Under the terms of the contract, Collins will manufacture and provide support for the NP2000 propeller systems, along with the necessary electronic control system and spare parts. The work will be carried out in Windsor Locks, Connecticut.

Citi analyst Jason Gursky raised the firm’s price target on Raytheon Technologies Corporation (NYSE:RTX) to $106 from $104 and kept a Neutral rating on the shares on January 26, following the Q4 results.

According to Insider Monkey’s fourth quarter database, 51 hedge funds were bullish on Raytheon Technologies Corporation (NYSE:RTX), compared to 55 funds in the prior quarter. Dmitry Balyasny’s Balyasny Asset Management is the largest stakeholder of the company. 

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.”