Blue-chip stocks are beaten down. While the tech stock onslaught continues, economic pressure and uncertainty come after some of the business’s biggest, most stable names.

Blue-chip and value stocks are typically a haven. But even these juggernauts haven’t been spared as we face interest rate risk, geopolitical pressure, and mounting recession fears.

For long-term, buy-and-hold investors, finding blue-chip stocks to buy today is easy. As downward pressure decreases stock prices, many of the top names previously too pricy are on sale. If you’re bargain-hunting for the perfect blue-chip stocks to add to your portfolio, these seven stocks are definite buys in today’s market. 

RTX (RTX)

Aerospace and defense company RTX (NYSE:RTX) (formerly Raytheon) is priced lower than it has been since 2020, making this blue-chip stock a definite buy. While war, conflict, and other geopolitical disasters are never desirable, defense companies like RTX are primed to break out as the U.S. carves out greater defense-aid packages to countries like Ukraine and Israel. RTX is a partner manufacturer for Israel’s “iron dome” rocket interception system, and even before the current conflict broke out, the company began expanding its manufacturing footprint to match demand.    

But beyond short-term boosts that awful circumstances and catastrophes bring to RTX, its fundamentals are strong enough to anchor a well-rounded blue-chip portfolio. Morningstar assigns RTX’s two primary operational categories — defense and aerospace — a wide moat based on their current product offerings and mutually-supported integrations. Likewise, Morningstar pegs RTX’s fair price at $111 per share, representing a nearly 50% upside opportunity despite a recent bump. 

Nike (NKE)

Nike (NYSE:NKE) is a perennial blue-chip favorite, but even a recent earnings beat and margin growth haven’t been enough to save the athletic shoe stock.

Shares are down nearly 20% since January, making for an attractive discount. Insiders seem to agree, as company board members bought a whopping 6.6 million shares over the past three months.

Following the “smart money” is usually advisable. There are few better to judge Nike’s upside potential than those with a front-row seat to the game.

In a recent earnings call, company CFO Matthew Friend affirmed the insiders’ bull thesis. He told investors, “We continue to see consumer demand for our brands and for our products to be very, very strong” despite macroeconomic concerns.

We’re headed into an interesting holiday season as tightened household budgets butt up against historical seasonal shopping trends. Whether Nike will see sales in line with past winter periods remains to be seen, but at today’s price, Nike is a blue-chip stock you shouldn’t skip. 

Scotts Miracle-Gro (SMG)

Scotts Miracle-Gro (NYSE:SMG) is one blue-chip stock that could see a boost from cannabis rescheduling, but that isn’t the only tailwind driving this stock upward in October. Ongoing new-home sales could drive the company’s landscaping division to new heights and bring the stock back to prior highs. 

Analysts, in fact, think that the housing industry will be a driving factor for SMG’s near-term performance. Morningstar, in a note, said “Future demand for gardening products will depend on growth in the housing industry.” After falling sharply, new starts are steadily rising and hit 1.28 million in August. We’re still waiting for September data to show whether the trend continued, but a surge in permit requests last month points to good things ahead for SMG.  

Brookfield Renewable Partners (BEP)

Brookfield Renewable Partners (NYSE:BEP) is a speculative blue-chip play, but one that could pay off big-time for investors interested in capturing sustainable investing opportunities. BEP is a diversified owner of many sustainable, green, and clean energy assets. Its holdings include solar, hydroelectric and wind facilities globally — all of which are primed to expand considering the push for renewable energy initiatives. 

At the same time, today’s constrained economic climate puts BEP in a unique position. The firm focuses on buying external assets to generate returns.

Today. many smaller renewable energy firms and assets are on sale. For smaller companies, interest rate risk puts downward pressure on their operations and increases business costs. BEP’s robust acquisition arm and $1 billion cash reserves are enough to snag some good deals in the green energy market.

To that end, BEP targets a 12% – 15% total return by growing existing assets and grabbing deals on the open market. A double-digit return in today’s market is nearly unheard of. That potential makes this blue-chip stock a great alternative to fossil fuel-based value stock picks.  

PepsiCo (PEP)

PepsiCo (NASDAQ:PEP) is down about 10% since January, but Tuesday’s earnings might shoot the food and drink stock back toward past highs.

Reported early this morning, Pepsi beat consensus estimates and increased revenue and income by a solid margin across all consumer segments. Pepsi is also targeting 4% to 6% revenue growth for the remainder of the year, meaning there’s still upside if management can meet its goals — though they’re already on track to do so. 

If the stock does stay flat, blue-chip and value investors can take solace in the firm’s dividend. The yield itself is just below 3%. Still, the company grew its dividend by nearly 60% over the past five years. Dividend growth of that magnitude, considering the economy, is noteworthy.

Ultimately, both Pepsi’s earnings report and commitment to shareholder value make it one of the best blue-chip stocks to buy today.  

Occidental Petroleum (OXY)

If you want some legacy energy firms for your “blue-chip stocks to buy” list, then Occidental Petroleum (NYSE:OXY) is perfect. Warren Buffett loves the stock, which is enough for many value investors. If you need a little more due diligence before pulling the trigger, though, recent news considerably boosts OXY’s October prospects. 

In September, Amazon (NASDAQ:AMZN) unveiled a new partnership with a subsidiary of OXY to leverage emerging carbon capture tech. Analysts anticipate this collaboration could put as much as  $150 million in OXY’s pocket by reducing Amazon’s carbon footprint via a new direct air capture plant. 

This facility is one of the first of its kind, thanks to the Bipartisan Infrastructure Law’s $3.5 billion plant development allocation. It enables OXY to diversify its revenue streams as more corporate entities seek ways to offset their carbon emissions. As the demand for sustainability continues to grow, traditional oil and gas companies must adapt. OXY stands out as one of the first blue-chip stocks in the sector to proactively embracing this trend.

OXY’s overall trailing yield stands at an impressive 7.39%. Warren Buffett’s love for the blue-chip stock is a positive signal for investors, and the company’s prospects for 2024 are equally promising.

Altria (MO)

Altria (NYSE:MO) is at its lowest share price since 2020, but its hefty dividend yield and prospects are a blue-chip investor’s dream. The company’s current dividend yield is 9%, which is irresistible considering high bond yields are making fixed-income investing attractive again.    

Recent earnings also indicate that the company is on strong financial footing, ensuring upside potential while it can maintain its hefty dividend distribution. Altria’s revenue grew 2% over the quarter despite smoking rates falling.

At the same time, Altria is aggressively exploring smokeless alternatives. Adaptation is critical for any company but magnified for a firm like Altria that lives and dies on the strength of tobacco sales. If Altria successfully pivots fully into the smokeless nicotine market, they’ll likely cement their position as the foremost blue-chip stock in the industry. 

On the date of publication, Jeremy Flint held no positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.