#2 - Northrop Grumman (NYSE:NOC)
Northrop Grumman Corp. (NYSE: NOC) is another mega-cap space stock that provides investors with a relatively risk-free way to get involved. Like Lockheed Martin, Northrop has been part of the space economy since it started in the 1960s. The company helps design and manufacture various products such as precision sensors, ground stations development, orbiting space platforms, and revolutionary launch vehicles.
Northrop Grumman's Space Sector accounted for $13.9 billion of revenue, about 35% of the company's total revenue. In the company's most recent earnings report, the company also reported a $40.5 billion backlog.
Like Lockheed Martin, NOC stock trades at around 18x forward earnings, a discount on the sector average of around 21.2x earnings. If the company delivers the 12.8% expected earnings growth, analysts are likely to raise their outlook with a consensus Hold rating as of March 7, 2024.
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
- $455.50
- Consensus Rating
- Hold
- Ratings Breakdown
- 4 Buy Ratings, 6 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $514.33 (12.9% Upside)
