5 Best Defense Stocks to Buy Heading Into 2023

In this piece, we’ll take a look at the 5 Best Defense Stocks To Buy Heading Into 2023. For more such companies, go to 11 Best Defense Stocks To Buy Heading Into 2023.

5. Huntington Ingalls Industries, Inc. (NYSE:HII)

Number of Hedge Fund Holders: 24

Forward Annual Dividend Yield as of December 23: 2.15%

Huntington Ingalls Industries, Inc. (NYSE:HII) is a leading global provider of advanced technology and engineering services for the aerospace and defense markets. Huntington Ingalls Industries, Inc. (NYSE:HII) serves a wide range of customers, including the U.S. Department of Defense and other military and government organizations around the world. The company also serves commercial customers, including original equipment manufacturers. Huntington Ingalls Industries, Inc. (NYSE:HII) currently provides an annual dividend yield of 2.15%.

On December 8, 2022, David Strauss, an analyst at Barclays, put a price target of $270 on Huntington Ingalls Industries, Inc. (NYSE:HII) and upgraded the rating on the stock to Overweight from Equal Weight. The analyst is confident about the defense sector going into 2023 as the increasing modernization offsets the weak macro environment.

At the end of Q3 2022, 24 hedge funds in Insider Monkey’s database were long Huntington Ingalls Industries, Inc. (NYSE:HII). AQR Capital Management remained the leading stakeholder of the company at the end of Q3 2022.