#2 - Raytheon (NYSE:RTX)
The next stock on this list is Raytheon Technologies Corporation (NYSE: RTX) and investors will notice that the fundamental and technical signals for Raytheon are similar to Lockheed Martin.
Raytheon manufactures the Stinger air-defense systems being used in Ukraine. However, as noted in 2022, missile defense systems make up a significant part of the U.S. defense budget. This is because the country continues to assess threats from nuclear capability countries.
From a technical standpoint, Raytheon hit an all-time high in April 2022. The stock’s late 2022 gains have not approached those levels, but it doesn’t mean it couldn’t reclaim them. That being said, like LMT stock, RTX stock is currently testing a key level of support and could have further to fall.
And like Lockheed Martin, investors looking for income can count on Raytheon’s dividend, which currently yields just over 2.24%. The company has increased its dividend in each of the last 29 years.
About RTX
RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers in the United States and internationally. It operates through three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for civil and military aircraft manufacturers and commercial airlines, as well as regional, business, and general aviation, defense, and commercial space operations.
Read More - Current Price
- $119.02
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 6 Buy Ratings, 8 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $177.27 (48.9% Upside)
