Is RTX Corporation (RTX) the Best Defense Stock to Buy in the S&P 500?

RTX Corporation (NYSE:RTX) is among the 10 Best Defense Stocks to Buy in the S&P 500. On January 14, RTX Corporation (NYSE:RTX) announced that its small satellite manufacturing subsidiary, Blue Canyon Technologies, had launched a satellite to support NASA’s Pandora mission.

Is RTX Corporation (RTX) the Best Defense Stock to Buy in the S&P 500?

The Saturn-200 minisatellite will conduct studies on exoplanets’ atmospheres and when they transit, especially when passing by their host stars. This is the 87th spacecraft deployed by Blue Canyon to-date.

In other news, RTX Corporation (NYSE:RTX) and Spain’s Indra Sistemas were chosen by the U.S. government earlier this month to provide new radars, as part of a $12.5 billion Congressional plan to overhaul the country’s aging air traffic control system.

Based on the ratings of 14 analysts, the stock is a Moderate Buy with a one-year average share price target of $198.92, representing a downside of 1.49% as of January 19.

Recent analyst updates include Susquehanna analyst Charles Minervino, on January 15, raising the firm’s price target on the stock to $230 from $205, while maintaining a Positive rating. This followed Citigroup’s adjustment earlier in the week on January 13, when it hiked the price target to $227 from $211 and kept a Buy rating.

RTX Corporation (NYSE:RTX) is a giant in the global aerospace and defense industry, providing systems and services to commercial, military, and government clients. It operates through three main businesses: Collins Aerospace, Pratt & Whitney, and Raytheon.

While we acknowledge the risk and potential of RTX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than RTX and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.