10 Best Drone Stocks to Buy According to Billionaires

4. Northrop Grumman Corporation (NYSE:NOC)

Number of Billionaires: 14

Billionaire Holdings: $1,635,472,404

Northrop Grumman Corporation (NYSE:NOC) is a leader in autonomous aerial systems and has developed notable military drones like the RQ-4 Global Hawk and MQ-4C Triton.

According to a report, the company unveiled ‘Lumberjack’, its one-way attack drone, at the Modern Day Marine Expo in Washington, DC, late last month. The jet-powered loitering munition can function autonomously and under human control, and can be launched from both the ground and air, making it effective for use in electronic warfare, reconnaissance operations, and kinetic strikes.

Northrop Grumman Corporation (NYSE:NOC) has received notable, high-value drone contracts over the past year, including a $267 million award in March from the US Navy to produce two additional MQ-4C Triton drones, as part of the service’s plans to have a fleet of 27 to bolster ISR capabilities.

The company is also working on a $387 million foreign military sales contract awarded by the DoD in April 2024 to sustain Italy, Japan, and South Korea’s RQ-4 Global Hawk drones. Moreover, the first of the four Tritons was delivered to Australia in June last year, with the second and third set for delivery later this year.

On April 22, Northrop Grumman Corporation (NYSE:NOC) reported financial results for Q1 FY25, with significant year-over-year decreases in revenue and net earnings, due to several contracting delays and the timing of material receipts. Despite the setback, Street analysts remain bullish, with a consensus Buy rating and an average share price upside of over 15%.

According to Insider Monkey’s database for Q4 2024, 14 billionaires held a stake in the company, making it one of the best drone stocks to buy.