Both the United States and Europe plan to increase their military budgets in the near future. German defense spending is set to rise by a total of $112 billion over the next decade. Defense spending in the United States will be increased to $773 billion in 2023, according to the Pentagon’s request to President Biden. Russia’s decision to send troops into Ukraine boosted the iShares U.S. Aerospace and Defense ETF by over 5 percent. This is a good time to buy defense stocks like Honeywell International Inc. and Raytheon Technologies Corp. as well.
Insider Monkey highlights the 10 defense stocks to buy as geopolitical tensions rise. In the aerospace, defense, and electronics industries, Astronics Corporation sells products. During the fourth quarter of 2021, revenue for the company totaled more than $115 million. In addition to the U.S. Department of Defense, it provides services to other public and private sector organizations. The aerospace and defense company AJRD is one of our clients. It was upgraded to a Buy rating on February 8 by Jefferies, with a price target of $47. AJRD may be in the sights of private equity firms interested in a takeover. Aerojet’s boardroom squabbles are to blame for the company’s sale. Virginia-based aerospace and defense company Northrop Grumman Corporation. As European countries, including Germany, increase their military spending in response to Russia’s invasion of Ukraine, the company stands to profit. German defense spending has already been increased by $112 billion, and other European countries are expected to follow suit. It is a subsidiary of Textron Inc. that specializes in aircraft, defense, industrial, and finance. For more than three decades, the company has consistently distributed dividends to shareholders. A total of $3.3 billion in revenue was generated by Textron in the fourth quarter of 2021, according to the company. Aerospace, defense, and electronic products are manufactured and sold by HEICO Corporation. In early January, a Truist analyst upgraded the stock to a Buy rating. A “differentiated supplier” in the aero sector, according to analysts. For more details, click 10 Defense Stocks To Buy As Geopolitical Tensions Rise.