One of President Trump’s plans is to create an Iron Dome of America.
That’s because, as noted by The White House, “The threat of attack by ballistic, hypersonic, and cruise missiles, and other advanced aerial attacks, remains the most catastrophic threat facing the United States.”
Company: RTX (SYM: RTX)
Should it happen, one of the top stocks you may want to buy and hold is RTX (SYM: RTX).
With a yield of 1.91%, RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers in the United States and internationally. Helping, RTX says it’s “fully prepared” to support the Iron Dome.
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“This is what Raytheon is exceptionally good at doing” Neil Mitchill, chief financial officer at RTX, said as quoted by Stripes.com. “So, we are fully prepared to support the president’s ambitions there. It would be a tremendous system and as you know, we play a role in the Iron Dome in Israel as well,” he added. RTX was previously known as Raytheon and maintains a business unit with that name.
Even better, President Trump – in a speech to Congress – said:
“As commander in chief, my focus is on building the most powerful military of the future. As a first step, I’m asking Congress to fund a state of the art “golden dome” missile defense shield to protect our homeland. All made in the U.S.A.”
Again, that’s all beneficial for companies like RTX.
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RTX is also benefiting from a surge in European defense spending. In fact, that’s why analysts at Baird just upgraded RTX to an outperform rating.
In addition, as noted by Seeking Alpha, “According to recent industry reports, approximately 80% of European defense procurement relies on non-EU companies, with RTX emerging as a major supplier. Baird sees RTX as the best-positioned U.S. defense contractor to capitalize on Europe’s military build-up. The company’s extensive missile defense and radar capabilities align closely with NATO’s evolving security needs, giving it a competitive advantage as European governments seek reliable defense partners.”
RTX last traded at $132.56 and could push higher with substantial defense demands.
