Hancock Prospecting, led by Gina Rinehart, invested approximately $97 million in four major U.S. defense contractors.
The holdings were recorded as of May 22, 2026. The acquisitions include RTX Corp.
The investment targets expected increases in geopolitical tensions and military spending. This move signals confidence in the long-term prospects of the U.S. defense industry.
Financial analyses suggest RTX Corp may be overvalued. GuruFocus calculated the stock's intrinsic value at $143.47. RTX traded at $175.77 on the day of the announcement, representing a premium.