Why Northrop Grumman (NOC) is a Top Momentum Stock for the Long-Term
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Is This 1 Momentum Stock a Screaming Buy Right Now?
For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
Northrop Grumman (NOC)
Originally formed in 1939 as Northrop Aircraft Incorporated and reincorporated in Delaware in 1985 as Northrop Corporation was a principal developer of flying wing technology. In 1994, the company acquired Grumman Corporation (Grumman), after which the company was renamed Northrop Grumman Corporation. Currently, this global security company supplies a broad array of products and services to the U.S. Department of Defense (DoD) including electronic systems, information technology, aircraft, space technology and systems integration services. Northrop Grumman has realigned its business units effective January 2020.Northrop Grumman's Aeronautics Systems unit focuses on the development, integration, production and support of manned aircraft and autonomous systems. In 2022, revenues came in at $10,531 million, contributing 28.9% to the company’s total revenues.
NOC boasts a Momentum Style Score of A and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Shares of Northrop Grumman has seen some interesting price action recently; the stock is up 1.9% over the past one week and up 4.8% over the past four weeks. And in the last one-year period, NOC has lost 2.3%. As for the stock's trading volume, 1,207,276.13 shares on average were traded over the last 20 days.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, eight analysts revised their earnings estimate higher in the last 60 days for NOC, while the Zacks Consensus Estimate has increased $0.58 to $24.68 per share. NOC also boasts an average earnings surprise of 5.6%.
NOC should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.
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Northrop Grumman Corporation (NOC) : Free Stock Analysis Report
