5 Best Defense Stocks To Buy Now

4. HEICO Corporation (NYSE:HEI)

Number of Hedge Fund Holders: 53

HEICO Corporation (NYSE:HEI), an aerospace and electronics firm, produces a range of products utilized in aircraft, spacecraft, defense equipment, medical devices, and telecommunications systems. In May of this year, HEICO Corporation (NYSE:HEI) announced its intention to acquire Wencor Group in a deal worth $2.05 billion, aimed at expanding its collection of generic parts. This strategic move aligns with the current trend in North America where airlines and aircraft repair facilities are increasingly turning to used and generic parts to maintain aircraft operations due to supply-chain disruptions affecting the availability of branded parts from companies.

At the end of Q2 2023, HEICO Corporation (NYSE:HEI) was held by 53 hedge funds. These funds disclosed positions worth $1.05 billion in the company, up from $1 billion in the previous quarter when 49 hedge funds held stakes in the company. The hedge fund sentiment for the stock is positive. As of the June quarter, Ken Griffin’s Citadel Investment Group is the largest investor in HEICO Corporation (NYSE:HEI) and holds a stake worth $102.2 million.