Defense contractor stocks are drawing attention as Lockheed Martin (LMT) and RTX (RTX) face market pressure on Tuesday. The sector presents a mixed earnings picture, with Lockheed Martin falling short of third quarter revenue estimates while RTX beat expectations and raised its full-year outlook.

Gabelli Funds Aerospace and Defense ETF (GCAD) portfolio manager Tony Bancroft joins Catalysts to share his perspective on the sector's outlook.

Despite current market pressure, Bancroft remains optimistic about these companies' long-term prospects, citing robust secular tailwinds. He emphasizes that the defense business is set to maintain substantial backlogs for the "foreseeable future."

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This post was written by Angel Smith