Northrop Grumman Corporation (NYSE:NOC) is among the 10 Best Aerospace and Defense Stocks to Buy According to Hedge Funds. On June 1, the defense contractor said it had completed a key flight test of its next-generation precision-strike missile, Jackal.
According to the company’s press release, the assessment results confirmed the readiness of Jackal’s flight systems, with the missile demonstrating its autonomous, navigational, and propulsion capabilities.
Key capabilities include speeds of over 300 miles per hour, and a range of up to 100 kilometers when launched from the surface or 125 kilometers in the case of air launch. Moreover, Jackal’s AI-backed algorithm allows it to detect and tackle threats without a direct line of sight.
This marks another milestone for Northrop Grumman Corporation in its efforts to deliver reliable weapons for the modern battlefield. Additional testing is planned for Jackal as it moves towards operational readiness.
In other news, on May 19, the company declared a quarterly dividend of $2.47 per share for all shareholders on record as of the close on June 1. The payment is scheduled for June 17.
Northrop Grumman Corporation is one of the largest defense contractors in the world. It is engaged in the design, development, integration, and maintenance of advanced systems across aeronautics, space, defense electronics, and mission solutions.
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