Parking cash in "buy and forget" stocks usually means buying into businesses with excellent and predictable long-term prospects. In that vein, let's explore defense and aerospace company Raytheon Technologies (NYSE: RTX), diversified industrial Honeywell International (NYSE: HON), and German industrial giant Siemens (OTC: SIEGY) as great options for investors.

The case for buying Raytheon is simple: Its space and defense businesses (defense and missile systems, intelligence and space systems, electronic warfare) are exposed to favorable spending trends in global defense budgets. As such, the defense businesses will support the company while its businesses that are focused on commercial aerospace (Collins Aerospace and Pratt & Whitney) embark on a multiyear recovery.

In other words, the downside to the stock is protected by the defense businesses, while the commercial aerospace businesses offer long-term growth prospects. To give investors a flavor of the growth potential, during the last earnings call, CEO Greg Hayes said Raytheon's free cash flow (FCF) would "continue to grow over the next several years back to that $8 billion to $9 billion that we had forecast."

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Source Fool.com