#3 - Northrop Grunman (NYSE:NOC)
Northrop Grunman (NYSE:NOC) is the last of the large defensive stocks on this list. One reason is that it continues to be a benefactor of the Russia-Ukraine war. The company also received confirmation of a $12.8 million modification contract for the F-35 Joint Strike fighter aircraft.
That’s not doing much for NOC stock which is down 14% in a week where the broader market is slightly in the green. This recent dip has knocked its price-to-earnings (P/E) ratio down to 13x. However, there’s no reason to believe that the company can’t justify a more premium valuation making now a great time to consider getting in on NOC stock.
Northrop Grunman pays a dividend yield of 1.51% as of this writing. However, the company has been increasing its dividend for 19 consecutive years. And it has a compelling annual payout per share of $6.92.
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
- $474.32
- Consensus Rating
- Hold
- Ratings Breakdown
- 4 Buy Ratings, 6 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $514.33 (8.4% Upside)
