The Best Defensive Stocks to Own This Month

Amid the ongoing war in Ukraine and other global security concerns, countries are enhancing their military capabilities and investing in defense technologies. As a result, the US defense industry has become a safe harbor during market uncertainties.

Therefore, I think investors could invest in quality stocks Textron Inc. (TXT – Get Rating) and Leidos Holdings, Inc. (LDOS – Get Rating), which pay stable dividends.

The United States Aerospace and defense sector is one of the largest in terms of infrastructure and manufacturing activities. The increasing geopolitical tensions with China and Russia have led to the US government increasing its defense spending, which is expected to boost research and development (R&D) and manufacturing within the defense industry.

As a result, the United States Aerospace and Defense Market is projected to grow at a CAGR of 2.4% during 2023-2028.

Moreover, the 2023 National Defense Authorization Act, with its $858 billion defense spending, provides a…

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