5 Best Defense Contractor Stocks to Buy Right Now

4. RTX Corporation (NYSE:RTX)

Stock Upside Potential: 16.70%

Number of Hedge Fund Holders: 79

RTX Corporation (NYSE:RTX) is one of the best defense contractor stocks to buy right now. On March 13, RTX secured a $2.01 billion contract modification from the US Air Force. The contract covers work on the Advanced Extremely High Frequency (AEHF) terminal system.

AEHF is a satellite communications system that delivers secure, jam-resistant communications for high-priority military assets. The modification is poised to increase the total value of the original contract signed in 2021 to $2.97 billion from $960 million. RTX is to conduct operations under the modification contract at the Marlboro, Massachusetts, and Largo, Florida, facilities.

The $2.01 modification contract comes on the heels of the US Navy awarding RTX a $498 contract last year for the production, testing, and delivery of fully integrated Navy Multiband terminals.

RTX has also confirmed that it has completed the expansion of its Redstone Raytheon Missile Integration facility. Completion of the 26,000-square-foot expansion follows a $115 million capital investment and is poised to increase the facility’s capacity by more than 50%.

RTX Corporation (NYSE:RTX) is a premier global aerospace and defense company that provides advanced systems to commercial, military, and government customers. It produces advanced weapons systems, such as the Tomahawk Land Attack Missile and the Patriot air defense system.