Unfortunately, the war between Russia and Ukraine shows no signs of letting up. There’s been a lot of talk around a ceasefire and potential peace deal, but there’s little tangible evidence of a diplomatic breakthrough as of this writing. As such, investors are giving defense stocks like Raytheon Technologies (NYSE:RTX) a close look. RTX stock has jumped 11% year-to-date, easily beating the S&P 500.
Much of Raytheon’s increase has come since Russia began its invasion of Ukraine. Investors might think that the rise in defense stocks will just be a flash in the pan that ends as soon as hostilities cease.
However, that is a short-sighted take that misses the broader cyclical forces at play. As you’ll see, even if the best case comes true and the Ukraine conflict ends tomorrow, companies like Raytheon are still positioned to be solid performers in coming years.
Find out more about Raytheon stock here.
The post It’s a Great Time to Add Defense Contractor Raytheon to Your Portfolio originally appeared at InvestorPlace.