5 Best Military Drone Stocks to Buy Right Now

4. Northrop Grumman Corporation (NYSE:NOC)

Number of Hedge Fund Holders: 62

Northrop Grumman Corporation (NYSE:NOC) is among the 10 Best Military Drone Stocks to Buy Right Now. It is the maker of the MQ-4C Triton, which is considered one of the world’s most advanced uncrewed maritime ISR and targeting aircraft.

The high-altitude unmanned aerial vehicle is in use by the U.S. Navy and the Royal Australian Air Force and helps perform a wide range of operations, such as maritime patrol, search and rescue missions, and intercepting electronic signals and communications. The highly sophisticated drone has been actively used by the U.S. in the ongoing war against Iran as well.

Northrop Grumman Corporation (NYSE:NOC)’s prowess in autonomous systems is not just limited to the MQ-4C Triton. Earlier this year, in January, the company was chosen by the Marine Corps to develop the Collaborative Combat Aircraft with Kratos’ Valkyrie uncrewed aerial system.

In other news, the stock continues to remain on analysts’ radar and currently has a Moderate Buy rating with an upside potential of 13% as of the close on April 16. Recent updates include Jefferies on April 9, lifting its price target on NOC to $710 from $690 and maintaining a Hold rating.

Northrop Grumman Corporation (NYSE:NOC) is one of the world’s largest defense contractors. It is engaged in the design, development, integration, and maintenance of advanced systems across aeronautics, space, defense electronics, and mission solutions.