RTX (RTX) and other US defense stocks were lower in recent Wednesday trading after US Treasury Secretary Scott Bessent said in a CNBC interview that the government may ask defense contractors to reduce stock buybacks and instead prioritize research and production.

"Our defense companies are woefully behind in terms of deliveries," Bessent was quoted as saying in the interview.

He also said that the recent situation with China and rare earth exports highlights the need for the US to become more self-sufficient, either on its own or with allies. He said that when dealing with a non-market economy like China, the US has to actively shape industrial policy.

Shares of RTX were down 1.8%, AeroVironment (AVAV) was sliding 4.1%, Northrop Grumman (NOC) was dropping 3.1%, Lockheed Martin (LMT) was down 1.8%, and General Dynamics (GD) was 1.1% lower in recent afternoon trading.

Price: 156.66, Change: -2.74, Percent Change: -1.72