#4 - Northrop Grunman (NYSE:NOC)
Northrop Grunman (NYSE:NOC) is one of the big winners from the Russian invasion. NOC stock is up 24% in the last month. And that is allowing the company to shrug off a mixed earnings report. The company beat on the bottom line, but missed slightly on the top line. What was worse is that the company is showing a sequential and year-over-year (YOY) decline in revenue.
However, that appears to be coming to an end. In February, Northrop received a $341 million contract from the U.S. Space Force to develop a deep space radar. Space has been one of the company’s fastest growing sectors in recent years.
The defense contractor is also getting a lift from the U.S. Air Force which has announced plans to buy 80 to 100 B-21 stealth bombers to replace the aging Boeing B-52s. And the company will be replacing aging intercontinental nuclear ballistic missiles with a contract valued at up to $100 billion.
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
- $496.87
- Consensus Rating
- Hold
- Ratings Breakdown
- 5 Buy Ratings, 10 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $550.56 (10.8% Upside)
