10 Best Low Beta Stocks To Buy

4. Northrop Grumman Corporation (NYSE:NOC)

5-year Beta (monthly): 0.34

Number of Hedge Fund Holders: 49

Northrop Grumman Corporation (NYSE:NOC) is a global aerospace and defense technology company that provides innovative systems, products, and solutions for a wide range of customers, including the U.S. government, the Department of Defense, the intelligence community, and commercial customers worldwide. The company operates in four main business sectors: Aeronautics Systems, Defense Systems, Mission Systems, and Space Systems.

It is widely recognized for its advanced aircraft development, particularly the B-2 Spirit stealth bomber, which is unique in its ability to carry both nuclear and conventional munitions. Additionally, it excels in unmanned aerial systems, represented by the RQ-4 Global Hawk surveillance aircraft used by the U.S. Air Force.

Recent contracts point to the company’s ongoing strength, including a $197.5 million U.S. Navy contract awarded in September for the production of Bomb Tactical Electronic Fuze systems, and a $1.5 billion contract from July for nine E-2D Advanced Hawkeye aircraft for the U.S. Navy and Japan, expected to be completed by 2029.

On September 3, The Fly reported that Seaport Research increased its price target for Northrop Grumman (NYSE:NOC) to $599 from $530 and maintained a Buy rating on the company stock. The firm made its price target revision after discussions with the current and upcoming CFO of the company. The firm feels optimistic about the company’s future and believes that, while overall sentiment about the company is good, investors are still not as confident as they could be.

Northrop Grumman (NYSE:NOC) is the 4th best low beta stock on our list. The company stock was held by 49 hedge funds with stakes worth nearly $1.8 billion in Q2. As of the second quarter, D E Shaw is the company’s most prominent shareholder. It increased its stake in Q2 by 830% to 642,609 shares worth $280.145 million. Citadel Investment Group is its second-largest shareholder after the firm increased its stake in the company by 1218% to 451,800 shares, valued at $196.962 million.