5 Dividend Stocks to Buy According to Jacob Mitchell’s Antipodes Partners

4. Northrop Grumman Corporation (NYSE:NOC)

Dividend Yield as of August 8: 1.47%
Antipodes Partners’ Stake Value: $108,300,000

Northrop Grumman Corporation (NYSE:NOC) is a Virginia-based multinational aerospace and defense company that specializes in space, aeronautics, defense, and cyberspace. In Q1 2022, Antipodes Partners purchased an additional $64.5 million worth of NOC stake, boosting its position in the company by 49%. The hedge fund’s stake in the company stood at over $108.3 million, which represented 3.84% of Jacob Mitchell’s portfolio.

In May, Northrop Grumman Corporation (NYSE:NOC) declared a quarterly dividend of $1.73 per share, up 10% from its previous dividend. The company holds an 18-year streak of consistent dividend growth. The stock’s dividend yield came in at 1.47%, as of August 8.

In July, Susquehanna raised its price target on Northrop Grumman Corporation (NYSE:NOC) to $530 with a Positive rating on the shares, appreciating the company’s higher margin outlook.

The number of hedge funds tracked by Insider Monkey owning stakes in Northrop Grumman Corporation (NYSE:NOC) stood at 39 in Q1 2022, compared with 33 in the previous quarter. These stakes are collectively valued at over $940.3 million.

LRT Capital Management mentioned Northrop Grumman Corporation (NYSE:NOC) in its Q2 2022 investor letter. Here is what the firm has to say:

Based in Virginia, Northrop Grumman is one of the world’s largest defense contractors with annual revenue of more than $30 billion. The company operates in a cozy oligopoly, that after decades of consolidation the US defense market is now controlled by five large companies: The Boeing Company, General Dynamics Corporation, Lockheed Martin Corporation, Northrop Grumman Corporation, and Raytheon Technologies Corporation. (Click here to view the full text)