Geopolitical Issues Pulled Back Northrop Grumman Corporation (NOC) in November

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Growth & Income Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The S&P 500 Index rose 11.7% in Q4 and 26.3% for the year. Investors became more comfortable that the U.S. Federal Reserve was done with raising interest rates, leading to a decrease of over 70 basis points in 10-year U.S. Treasury yields. The Federal Reserve’s core Personal Consumption Expenditures (PCE) Price Index has been moderating on a year-over-year basis, easing concerns about interest rates. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Carillon Eagle Growth & Income Fund featured stocks like Northrop Grumman Corporation (NYSE:NOC) in the fourth quarter 2023 investor letter. Headquartered in Falls Church, Virginia, Northrop Grumman Corporation (NYSE:NOC) is an aerospace and defense technology company. On March 8, 2024, Northrop Grumman Corporation (NYSE:NOC) stock closed at $459.50 per share. One-month return of Northrop Grumman Corporation (NYSE:NOC) was 1.78%, and its shares gained 0.38% of their value over the last 52 weeks. Northrop Grumman Corporation (NYSE:NOC) has a market capitalization of $68.942 billion.

Carillon Eagle Growth & Income Fund stated the following regarding Northrop Grumman Corporation (NYSE:NOC) in its fourth quarter 2023 investor letter:

“Northrop Grumman Corporation (NYSE:NOC) pulled back in November following very strong performance in October that was tied to solid earnings and heightened geopolitical issues that included the war in Israel. While geopolitical issues remained front and center in November, tensions did not broaden to other areas through the end of the year.”

An aeronautics engineer inspecting a model aircraft engine in a factory setting.

Northrop Grumman Corporation (NYSE:NOC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Northrop Grumman Corporation (NYSE:NOC) was held by 45 hedge fund portfolios, up from 35 in the previous quarter, according to our database.

We discussed Northrop Grumman Corporation (NYSE:NOC) in another article and shared the list of best space stocks to buy according to hedge funds. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.