#2 - Northrop Grumman (NYSE:NOC)
Northrop Grumman Corp. (NYSE: NOC) is another large-cap defense stock to consider as a long-term investment. In 2024, the company’s stock is down more than 6%. Investors may be spooked that the company recently warned Arizona of potential job cuts in the state.
While no specific reason was given for the possible 543 job cuts, Northrop was not selected for a $17 billion contract with the U.S. Missile Defense Agency. However, it’s important to note that this falls under the company’s Defense Systems vertical, which is responsible for the smallest part of its revenue.
NOC stock has not been a stellar performer in the last 12 months, with a negative total return of 2.05%. However, over the last five years, the company has delivered a total return of 46.82%, on par with Lockheed Martin. And with 20 consecutive years of dividend increases, Northrop Grumman still looks like an enticing stock for the long haul.
About Northrop Grumman
Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.
Read More - Current Price
- $469.54
- Consensus Rating
- Hold
- Ratings Breakdown
- 5 Buy Ratings, 10 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $553.27 (17.8% Upside)
