RTX - These 3 Big Winners in 2022 Can Soar Again in 2023
Shares in aerospace and defense giant Raytheon Technologies (NYSE: RTX) , advanced composites manufacturer Hexcel (NYSE: HXL) , and multi-industry conglomerate Honeywell Internationa l (NASDAQ: HON) are in positive territory so far in 2022, with the former two up mid-teens and Honeywell up by low single digits. That makes them big winners compared to an S&P 500 index that's down 17.3% for the year.
However, now isn't the time to take profits because all three have plenty of potential to do very well in 2023. Here's a look at each.
The case for Raytheon is relatively simple to understand and comes in two parts. First, its commercial aerospace-focused businesses will benefit from an ongoing recovery in flight departures. Raytheon's two commercial aerospace-focused segments, Collins Aerospace and Pratt & Whitney, have significantly exceeded expectations this year . Still, there's potential for more growth in 2023 as the recovery to 2019 levels (and beyond) builds. That's excellent news for the aftermarket business.
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These 3 Big Winners in 2022 Can Soar Again in 2023