🌎 30+ NEW AI-picked stock strategies for exciting international marketsUnlock Global AI Picks

Donald Trump presidency would be good for defense spending, HEICO exec said

Published 07/24/2024, 09:34 AM
Updated 07/24/2024, 09:36 AM
© Reuters. FILE PHOTO: Republican presidential nominee and former U.S. President Donald Trump takes the stage to speak on Day 4 of the Republican National Convention (RNC), at the Fiserv Forum in Milwaukee, Wisconsin, U.S., July 18, 2024. REUTERS/Brian Snyder/File P

© Reuters. FILE PHOTO: Republican presidential nominee and former U.S. President Donald Trump takes the stage to speak on Day 4 of the Republican National Convention (RNC), at the Fiserv Forum in Milwaukee, Wisconsin, U.S., July 18, 2024. REUTERS/Brian Snyder/File P

HEI
0.63%

FARNBOROUGH, England (Reuters) - A Donald Trump presidency would benefit the U.S. defense industry, independent aerospace and defense parts producer Heico Corp's co-president Eric Mendelson told Reuters on Wednesday.

Former U.S. President Trump has hinted he may cut funding to Ukraine if he is elected in November, potentially curbing the booming sales of everything from missiles and drones to armored vehicles and artillery shells.

"We think Trump will be good for our business," Mendelson said on the sidelines of the Farnborough Airshow. "And I think most of the people in the defense industry share that viewpoint."

Defense firms have said they are confident Western governments will continue to increase spending on weapons to counter Russia and China, brushing off concerns that political upheaval in the United States and Europe could curb military budgets.

"He (Trump) has replicated Reagan's strategy of peace through strength, and the idea is that if you have strength then that discourages your neighbor's bad people from attacking you," Mendelson said, referring to 1980s U.S. President Ronald Reagan.

"Even if he's successful in ending the conflict, which we all hope he is, as long as he continues to support a sovereign Ukraine, he still will be a very good promoter for the industry."

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads.

Should you invest $2,000 in HEI right now?

Before you buy stock in HEI, consider this: ProPicks AI are 6 easy-to-follow model portfolios created by Investing.com for building wealth by identifying winning stocks and letting them run. Over 150,000 paying members trust ProPicks to find new stocks to buy – driven by AI. The ProPicks AI algorithm has just identified the best stocks for investors to buy now. The stocks that made the cut could produce enormous returns in the coming years. Is HEI one of them?

Reveal Undervalued Stocks Now

Latest comments

pro badge
NWC147Jul 24, 2024, 19:10
Actually, the exact opposite is true. Isolationist policies, end of support for Ukraine and Isreal and withdrawal from NATO and Taiwan will be a disaster for the defense industry and suppliers. The exact opposite is true with a Harris presidency.
Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.