Defense stocks are in the spotlight amid the ongoing Israel-Iran-US conflict. The weapons and military equipment manufacturing industry is the first in line to gain during geopolitical turmoil.
The US has an array of weapons and military aircraft manufacturing firms that are already gaining from the war. In this article, we will highlight the three US defense stocks to watch out for that can surge in value.
These 3 US Defense Stocks Are on the Radar
1. Northrop Grumman Corp (NYSE: NOC)
Northrop Grumman Corp rallied 6% on Monday, surging nearly 44 points in the day’s session. Day traders made quick profits as news about the conflict was being displayed in real-time. It closed the day at $768, and traders took an entry position due to the strong demand for weapons and military equipment. NOC can continue to rally this week, making it a must-watch defense stock.
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2. RTX Corp (NYSE: RTX)
RTX Corp rose 4.7% on Monday, rising close to 10 points in the day’s trade. The increased military spending gave the defense stock a boost, as it’s one of the firms on the frontline. Heightened demand for military hardware and components drove RTX Corp’s price in the charts. It closed the day’s trading session at $212, which is its yearly high. RTX could climb even further as the conflict is taking new directions every day.
3. Lockheed Martin (NYSE: LMT)
Military aircraft manufacturing firm Lockheed Martin received an influx of investments on Monday. Its price was stagnant in January but experienced a boost in March. LMT surged 3.37% with an uptick of 22 points in the day’s session. Its price reached a yearly high of $676 and is currently attracting bullish sentiments. Defense stocks could deliver the desired results this month, as Trump announced the conflict could last four to six weeks.
