We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Northrop Grumman's (NOC) Unit Inks $1.3B Deal for LITENING
Read MoreHide Full Article
Northrop Grumman Corporation’s (NOC - Free Report) business unit, Northrop Grumman Systems Corp., recently secured an indefinite-delivery/indefinite-quantity, firm fixed-price, cost-reimbursable contract for sustainment, modernization, production and development of the LITENING advanced targeting pod.
Valued at $1.3 billion, the contract was awarded by Air Force Life Cycle Management Center, Robins Air Force Base, GA. Work related to the deal is scheduled to be over by Dec 31, 2023.
A Brief Note on LITENING
Northrop Grumman's widely fielded AN/AAQ-28(V) LITENING system is a combat proven, self-contained, multi-sensor targeting and surveillance system. LITENING enables aircrews to detect, acquire, auto-track and identify targets at long ranges for weapon delivery or nontraditional intelligence, surveillance and reconnaissance missions.
LITENING's 1K FLIR, 1K charged-coupled device (CCD), laser imaging sensors, advanced image processing and digital video output provide superior imagery, allowing aircrews to identify and engage targets under a wide range of battlefield conditions.
Northrop Grumman’s Growth Prospects
Northrop Grumman has a strong presence along with other key players in the Aerospace – Defense industry such as Lockheed Martin Corp. (LMT - Free Report) , The Boeing Company (BA - Free Report) and Huntington Ingalls Industries, Inc. (HII - Free Report) .
The company’s product line is well-positioned in high-priority categories such as defense electronics, unmanned aircraft and missile defense. Moreover, the fiscal 2019 defense budget includes $686.1 billion as funding for the Pentagon reflects 5% real growth over President Donald Trump’s initial budget for fiscal 2018. Such increased spending levels for defense are expected to lend a solid boost to Northrop Grumman.
In the missile space, Northrop Grumman has been consistently witnessing sturdy demand for its products on a global scale with programs like F-35, Triton and SABR radar, Global Hawk and a sound set of new programs. To this end, in June, the Australian government announced its commitment to purchase Northrop Grumman’s Triton drones worth approximately $5.1 billion. Such contract wins should enable the company to improve its top line, going forward.
Price Movement
Northrop Grumman’s stock has lost 26.1% in the past 12 months, wider than the industry’s decline of 14.7%.
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6% and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
Image: Bigstock
Northrop Grumman's (NOC) Unit Inks $1.3B Deal for LITENING
Northrop Grumman Corporation’s (NOC - Free Report) business unit, Northrop Grumman Systems Corp., recently secured an indefinite-delivery/indefinite-quantity, firm fixed-price, cost-reimbursable contract for sustainment, modernization, production and development of the LITENING advanced targeting pod.
Valued at $1.3 billion, the contract was awarded by Air Force Life Cycle Management Center, Robins Air Force Base, GA. Work related to the deal is scheduled to be over by Dec 31, 2023.
A Brief Note on LITENING
Northrop Grumman's widely fielded AN/AAQ-28(V) LITENING system is a combat proven, self-contained, multi-sensor targeting and surveillance system. LITENING enables aircrews to detect, acquire, auto-track and identify targets at long ranges for weapon delivery or nontraditional intelligence, surveillance and reconnaissance missions.
LITENING's 1K FLIR, 1K charged-coupled device (CCD), laser imaging sensors, advanced image processing and digital video output provide superior imagery, allowing aircrews to identify and engage targets under a wide range of battlefield conditions.
Northrop Grumman’s Growth Prospects
Northrop Grumman has a strong presence along with other key players in the Aerospace – Defense industry such as Lockheed Martin Corp. (LMT - Free Report) , The Boeing Company (BA - Free Report) and Huntington Ingalls Industries, Inc. (HII - Free Report) .
The company’s product line is well-positioned in high-priority categories such as defense electronics, unmanned aircraft and missile defense. Moreover, the fiscal 2019 defense budget includes $686.1 billion as funding for the Pentagon reflects 5% real growth over President Donald Trump’s initial budget for fiscal 2018. Such increased spending levels for defense are expected to lend a solid boost to Northrop Grumman.
In the missile space, Northrop Grumman has been consistently witnessing sturdy demand for its products on a global scale with programs like F-35, Triton and SABR radar, Global Hawk and a sound set of new programs. To this end, in June, the Australian government announced its commitment to purchase Northrop Grumman’s Triton drones worth approximately $5.1 billion. Such contract wins should enable the company to improve its top line, going forward.
Price Movement
Northrop Grumman’s stock has lost 26.1% in the past 12 months, wider than the industry’s decline of 14.7%.
Zacks Rank
Northrop Grumman currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6% and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>