Northrop Grumman Option Alert: Aug 15 $540 Calls Sweep (6) near the Ask: 500 vs 68 OI

Northrop Grumman Option Alert: Aug 15 $540 Calls Sweep (6) near the Ask: 500 @ $10.5 vs 68 OI; Ref=$521.21

Northrop Grumman (NYSE:NOC) Bolsa

NORTHROP GRUMMAN CORP

Northrop Grumman

Northrop Grumman is a diversified defense contractor providing aeronautics, defense, and space systems. The company's aerospace segment creates the fuselage for the massive F-35 program, produces autonomous and piloted aircraft such as Global Hawk drones and the new B-21 bomber, and maintains and upgrades numerous military aircraft. Defense systems makes artillery and missile ammunition and guidance systems, long-range missiles, and missile defense systems. Mission systems creates and integrates a variety of radar, navigation, and communication systems for avionics, weapons control, and countermeasures on a range of platforms from helicopters to destroyers. Space systems produces satellites, sensors, space structures, and rocket motors.

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Northrop Grumman Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) reported second-quarter financial results ahead of the market open on Tuesday. Here&#8217;s a look at the key metrics <a href="https://www.benzinga.com/pressreleases/25/07/g46539738/northrop-grumman-releases-second-quarter-2025-financial-results">from the quarter</a>.
Q2 Earnings: Defense contractor Northrop Grumman reported second-quarter revenue of $10.35 billion, beating analyst <a href="https://www.benzinga.com/quote/NOC/earnings" target="_blank" rel="noreferrer noopener">estimates</a>&nbsp;of $10.11 billion, according to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>. The company reported second-quarter adjusted earnings of $7.11 per share, beating analyst estimates of $6.76 per share.
Total sales were up 1% on a year-over-year basis and 9% sequentially in the second quarter. Here&#8217;s a breakdown of revenue by category:
<ul class="wp-block-list">
<li>Aeronautics Systems: $3.11 billion, up 2% year-over-year</li>
</ul>
<ul class="wp-block-list">
<li>Defense Systems: $1.99 billion, up 7% year-over-year</li>
</ul>
<ul class="wp-block-list">
<li>Mission Systems: $3.16 billion, up 14% year-over-year</li>
</ul>
<ul class="wp-block-list">
<li>Space Systems: $2.65 billion, down 12% year-over-year</li>
</ul>
Northrop Grumman said operating cash flows decreased $567 million year-over-year and free cash flow declined $468 million, or 42%. The company reported total net awards of $7.4 billion in the quarter. Northrop Grumman ended the period with a total backlog of $89.7 billion. 
"We are working with our customers to accelerate capability delivery to enable their vision of peace through strength. We continue to see growing demand globally for our broad range of product offerings, which resulted in 18% international sales growth in the quarter,&#8221; said Kathy Warden, chair, president and CEO of Northrop Grumman.
Outlook: Northrop Grumman narrowed its 2025 revenue guidance from a range of $42 billion to $42.5 billion to a new range of $42.05 billion to $42.25 billion. The company also raised its 2025 adjusted earnings guidance from a range of $24.95 to $25.35 per share to a new range of $25 to $25.40 per share. Analysts are forecasting full-year revenue of $42.11 billion and earnings of $25.21 per share, according to <a href="http://pro.benzinga.com">Benzinga Pro</a> estimates. 
Northrop Grumman&#8217;s management team will further discuss the quarter on a call with investors and analysts at 9:30 a.m. ET.
NOC Price Action: <a href="http://benzinga.com/quote/NOC">Northrop Grumman shares</a> were up 3.44% at $531.01 at the time of publication Tuesday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
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Photo: <a href="https://www.shutterstock.com/g/matthew+Munsell">Matthew Munsell</a>/Shutterstock.com

Earnings

Guidance

Movers

Northrop Grumman Q2 Earnings: Revenue, EPS Top Estimates As Global Demand Increases

WIIM

Northrop Grumman shares are trading higher after the company reported better-than-expected Q2 financial results and raised its FY25 adjusted EPS guidance.

Guidance
&nbsp;&nbsp;&nbsp; Financial guidance, as well as outlook, trends, expectations and other forward-looking statements provided by the company for 2025 and beyond, reflect the company's judgment based on the information available to the company at the time of this release. The company's financial guidance and outlook for 2025 and beyond reflect what the company currently anticipates will be the impacts on the company from, among other factors, the global macroeconomic, security, and political/budget environments, including the impacts from inflationary pressures and labor and supply chain challenges; changes in the threat environment; changes in government budget, appropriations and procurement priorities and processes; the continuing resolution; changes in the regulatory environment, including trade policy and tax policy; and changes in support for our programs. We are not assuming, and the company's financial guidance and outlook for 2025 and beyond do not reflect impacts on the company from, any government shutdown, or application of spending limits or other spending cuts. However, the company cannot predict how these factors will evolve or what impacts they will have, and there can be no assurance that the company's current expectations or underlying assumptions are correct. These factors can affect the company's ability to achieve guidance or meet expectations.
For additional factors that may impact the company's ability to achieve guidance or meet expectations, please see the "Forward-Looking Statements" section in this release and our Form 10-Q.
<figure class="table"> 
<table>
<tbody>
<tr>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td colspan="6">2025 Guidance</td>
</tr>
<tr>
<td colspan="3">($ in millions, except per share amounts)</td>
<td colspan="3">As of 7/22/2025</td>
</tr>
<tr>
<td colspan="3" rowspan="2">Sales</td>
<td colspan="3">$42,050 — $42,250</td>
</tr>
<tr>
<td colspan="3">Prior: $42,000 — $42,500</td>
</tr>
<tr>
<td colspan="3" rowspan="2">Segment operating income1</td>
<td colspan="3">$4,275 — $4,375</td>
</tr>
<tr>
<td colspan="3">Prior: $4,200 — $4,350</td>
</tr>
<tr>
<td colspan="3" rowspan="2">MTM-adjusted EPS1</td>
<td colspan="3">$25.00 — $25.40</td>
</tr>
<tr>
<td colspan="3">Prior: $24.95 — $25.35</td>
</tr>
<tr>
<td colspan="3" rowspan="2">Free cash flow1</td>
<td colspan="3">$3,050 — $3,350</td>
</tr>
<tr>
<td colspan="3">Prior: $2,850 — $3,250</td>
</tr>
</tbody>
</table>
</figure><figure class="table"> 
<table>
<tbody>
<tr>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td colspan="9">2025 Segment Guidance</td>
</tr>
<tr>
<td colspan="3">&nbsp;</td>
<td colspan="6">As of 7/22/2025</td>
</tr>
<tr>
<td colspan="3">&nbsp;</td>
<td colspan="3">Sales ($B)</td>
<td colspan="3">OM Rate %</td>
</tr>
<tr>
<td colspan="3" rowspan="2">Aeronautics Systems</td>
<td colspan="3">Low $13</td>
<td colspan="3">Low to Mid 6%</td>
</tr>
<tr>
<td colspan="3">&nbsp;</td>
<td colspan="3">&nbsp;</td>
</tr>
<tr>
<td colspan="3" rowspan="2">Defense Systems</td>
<td colspan="3">Low $8</td>
<td colspan="3">Mid 10%</td>
</tr>
<tr>
<td colspan="3">&nbsp;</td>
<td colspan="3">Prior: Mid to High 9%</td>
</tr>
<tr>
<td colspan="3" rowspan="2">Mission Systems</td>
<td colspan="3">Low to Mid $12</td>
<td colspan="3">Mid 14%</td>
</tr>
<tr>
<td colspan="3">Prior: ~$12</td>
<td colspan="3">&nbsp;</td>
</tr>
<tr>
<td colspan="3" rowspan="2">Space Systems</td>
<td colspan="3">Mid to High $10</td>
<td colspan="3">High 10%</td>
</tr>
<tr>
<td colspan="3">Prior: ~$11</td>
<td colspan="3">&nbsp;</td>
</tr>
<tr>
<td colspan="3" rowspan="2">Intersegment Eliminations</td>
<td colspan="3">~($2.1)</td>
<td colspan="3">High 13%</td>
</tr>
<tr>
<td colspan="3">&nbsp;</td>
<td colspan="3">&nbsp;</td>
</tr>
</tbody>
</table>
</figure>

Northrop Grumman Raises FY2025 Adj EPS Guidance from $24.95-$25.35 to $25.00-$25.40 vs $25.21 Est; Narrows FY2025 Sales Guidance from $42.000B-$42.500B to $42.050B-$42.250B vs $42.108B Est

Northrop Grumman (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) reported quarterly earnings of $7.11 per share which beat the analyst consensus estimate of $6.76 by 5.18 percent. This is a 11.79 percent increase over earnings of $6.36 per share from the same period last year. The company reported quarterly sales of $10.350 billion which beat the analyst consensus estimate of $10.110 billion by 2.37 percent. This is a 1.29 percent increase over sales of $10.218 billion the same period last year.

Earnings Beats

Northrop Grumman Q2 Adj. EPS $7.11 Beats $6.76 Estimate, Sales $10.350B Beat $10.110B Estimate

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• PulteGroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) is expected to report quarterly earnings at $2.97 per share on revenue of $4.40 billion. 
• RTX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) is expected to report quarterly earnings at $1.44 per share on revenue of $20.64 billion. 
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• General Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) is likely to report quarterly earnings at $2.41 per share on revenue of $45.57 billion. 
• D.R. Horton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) is estimated to report quarterly earnings at $2.91 per share on revenue of $8.79 billion. 
• Tenet Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) is estimated to report quarterly earnings at $2.86 per share on revenue of $5.16 billion. 
• Northrop Grumman (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) is likely to report quarterly earnings at $6.69 per share on revenue of $10.12 billion. 
• Lockheed Martin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) is likely to report quarterly earnings at $6.54 per share on revenue of $18.57 billion. 
• Invesco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVZ#NYSE">IVZ</a>) is projected to report quarterly earnings at $0.39 per share on revenue of $1.10 billion. 
• Synchrony Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYF#NYSE">SYF</a>) is estimated to report quarterly earnings at $1.71 per share on revenue of $4.03 billion. 
• Philip Morris Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PM#NYSE">PM</a>) is projected to report quarterly earnings at $1.85 per share on revenue of $10.30 billion. 
• Complete Solaria (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPWR#NASDAQ">SPWR</a>) is projected to report quarterly loss at $0.01 per share on revenue of $85.00 million. 
• PACCAR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCAR#NASDAQ">PCAR</a>) is expected to report quarterly earnings at $1.34 per share on revenue of $6.95 billion. 
• MSCI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSCI#NYSE">MSCI</a>) is projected to report quarterly earnings at $4.12 per share on revenue of $767.15 million. 
• Old National (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONB#NASDAQ">ONB</a>) is likely to report quarterly earnings at $0.51 per share on revenue of $622.93 million. 
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• Halliburton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>) is expected to report quarterly earnings at $0.56 per share on revenue of $5.43 billion. 
• Avery Dennison (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVY#NYSE">AVY</a>) is likely to report quarterly earnings at $2.41 per share on revenue of $2.23 billion. 
• MakeMyTrip (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MMYT#NASDAQ">MMYT</a>) is projected to report quarterly earnings at $0.42 per share on revenue of $288.14 million. 
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• Pentair (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNR#NYSE">PNR</a>) is likely to report quarterly earnings at $1.33 per share on revenue of $1.11 billion. 
• Peoples Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEBO#NASDAQ">PEBO</a>) is projected to report quarterly earnings at $0.77 per share on revenue of $113.08 million. 
• Mercantile Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBWM#NASDAQ">MBWM</a>) is projected to report quarterly earnings at $1.24 per share on revenue of $60.17 million. 
• Coca-Cola (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) is likely to report quarterly earnings at $0.83 per share on revenue of $12.57 billion. 
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• Forestar Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FOR#NYSE">FOR</a>) is expected to report quarterly earnings at $0.77 per share on revenue of $395.20 million. 
• First BanCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBP#NYSE">FBP</a>) is projected to report quarterly earnings at $0.46 per share on revenue of $251.62 million. 
• Equifax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFX#NYSE">EFX</a>) is expected to report quarterly earnings at $1.92 per share on revenue of $1.51 billion. 
• Danaher (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHR#NYSE">DHR</a>) is expected to report quarterly earnings at $1.64 per share on revenue of $5.84 billion. 
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• Texas Instruments (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) is estimated to report quarterly earnings at $1.32 per share on revenue of $4.31 billion. 
• Trustmark (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRMK#NASDAQ">TRMK</a>) is expected to report quarterly earnings at $0.86 per share on revenue of $200.74 million. 
• Renasant (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNST#NYSE">RNST</a>) is projected to report quarterly earnings at $0.74 per share on revenue of $262.07 million. 
• National Bank Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NBHC#NYSE">NBHC</a>) is expected to report quarterly earnings at $0.80 per share on revenue of $109.81 million. 
• KKR Real Est Finance Tr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KREF#NYSE">KREF</a>) is projected to report quarterly loss at $0.07 per share on revenue of $31.90 million. 
• Hanmi Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAFC#NASDAQ">HAFC</a>) is likely to report quarterly earnings at $0.61 per share on revenue of $65.58 million. 
• First Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRBA#NASDAQ">FRBA</a>) is expected to report quarterly earnings at $0.42 per share on revenue of $35.27 million. 
• Cathay General (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CATY#NASDAQ">CATY</a>) is likely to report quarterly earnings at $1.10 per share on revenue of $196.36 million. 
• Cal-Maine Foods (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CALM#NASDAQ">CALM</a>) is expected to report quarterly earnings at $5.29 per share on revenue of $877.03 million. 
• First Busey (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BUSE#NASDAQ">BUSE</a>) is likely to report quarterly earnings at $0.62 per share on revenue of $193.20 million. 
• Baker Hughes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) is estimated to report quarterly earnings at $0.55 per share on revenue of $6.63 billion. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Earnings Scheduled For July 22, 2025

Northrop Grumman Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) will release earnings results for the second quarter, before the <a href="https://www.benzinga.com/quote/noc/earnings">opening bell on Tuesday, July 22.</a>
Analysts expect the Falls Church, Virginia-based company to report quarterly earnings at $6.68 per share, up from $6.36 per share in the year-ago period. Northrop Grumman projects to report quarterly revenue at $10.15 billion, compared to $10.22 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Northrop Grumman, in an exchange filing, said that on May 29, it had issued $1 billion in new senior notes, split evenly between two tranches maturing in 2030 and 2035.
Northrop Grumman shares fell 0.7% to close at $515.29 on Monday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/NOC/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul class="wp-block-list">
<li>Deutsche Bank analyst Scott Deuschle downgraded the stock from Buy to Hold and cut the price target from $580 to $542 on July 8, 2025. This analyst has an accuracy rate of 81%.</li>
<li>Wells Fargo analyst Matthew Akers maintained an Overweight rating and cut the price target from $547 to $525 on April 24, 2025. This analyst has an accuracy rate of 75%.</li>
<li>RBC Capital analyst Ken Herbert maintained an Outperform rating and slashed the price target from $575 to $550 on April 23, 2025. This analyst has an accuracy rate of 77%.</li>
<li>Truist Securities analyst Michael Ciarmoli maintained a Buy rating and cut the price target from $600 to $550 on April 23, 2025. This analyst has an accuracy rate of 85%.</li>
<li>Susquehanna analyst Charles Minervino maintained a Positive rating and cut the price target from $557 to $540 on April 23, 2025. This analyst has an accuracy rate of 64%.</li>
</ul>
Considering buying NOC stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="583" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/22033905/image-291-1024x583.png" alt="" class="wp-image-994819" style="width:617px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/22033905/image-291-1024x583.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/22033905/image-291-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/22033905/image-291-768x437.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/22033905/image-291.png 1117w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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<li><a href="https://www.benzinga.com/trading-ideas/short-ideas/25/07/46517205/top-2-financial-stocks-that-may-plunge-this-month">Top 2 Financial Stocks That May Plunge This Month</a> </li>
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Photo via Shutterstock

Price Target

Pre-Market Outlook

Analyst Ratings

Trading Ideas

Northrop Grumman Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Three defense titans, three different flight paths — but only one may come out on top when Lockheed Martin (LMT), RTX Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>), and Northrop Grumman Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) report earnings Tuesday before the bell. With investors closely tracking valuation, momentum, and technicals, this aerospace earnings face-off is about to get turbulent.
<h2 class="wp-block-heading">RTX: Flying High, Valued Higher</h2>
RTX has been the surprise high-flyer. With a 47% gain over the past year and a 32% YTD rally, it's the clear momentum leader. Technically, it's flashing bullish signals across all moving averages, and <a href="https://www.benzinga.com/quote/RTX/earnings">second quarter expectations</a> sit at $1.45 EPS on $20.66 billion revenue.
But here's the catch — valuations are steep. RTX trades at a 44.4x trailing and 25.2x forward P/E, which is significantly above its peers. Investors will be watching if the company can deliver numbers to justify the altitude.
Read Also: <a href="https://www.benzinga.com/analyst-stock-ratings/price-target/25/07/46521182/lockheed-martin-likely-to-report-lower-q2-earnings-these-most-accurate-analysts-revise-forecasts-ahead-of-earnings-call">Lockheed Martin Likely To Report Lower Q2 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call</a>
<h2 class="wp-block-heading">Lockheed: Stalled On The Runway</h2>
Lockheed Martin, meanwhile, appears to be stuck. The stock is down 2.2% year-over-year and sits below all major moving averages — a full house of sell signals. <a href="https://www.benzinga.com/quote/LMT/earnings">Second quarter expectations</a> call for $6.63 EPS on $18.63 billion revenue, but weak price action suggests muted optimism.
Valuation-wise, LMT trades at a more grounded 17.2x forward P/E, with a 5% earnings yield — but unless it surprises to the upside, it risks falling further behind the pack.
<h2 class="wp-block-heading">Northrop: The Stealth Challenger</h2>
Northrop Grumman has quietly climbed 19% in the past year and is technically the most consistent. It's trading above all key SMAs, and its <a href="https://www.benzinga.com/quote/NOC/earnings">second-quarter forecast</a> of $6.76 EPS on $10.11 billion revenue gives it a solid footing.
Still, with a high PEG ratio of 3.2, growth expectations may already be priced in.
<h2 class="wp-block-heading">Who&#8217;s Cleared For Takeoff?</h2>
RTX is flying fastest, but with a lofty valuation and high expectations. Lockheed has the cheapest multiple but lacks momentum. Northrop offers a middle ground — steady gains, solid earnings, and bullish technicals.
Tuesday&#8217;s earnings may decide which name investors should be saluting.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/earnings/25/07/46453684/defense-stocks-earnings-q2-2025-preview">Defense Stocks Head Into Earnings At Record Highs — Is The Boom Just Beginning?</a></li>
</ul>
Photo: Shutterstock

Previews

Lockheed Vs. RTX Vs. Northrop: Defense Giants Go Head-To-Head Before Earnings Blastoff

Wall Street opened the week on a risk-on footing, with the S&amp;P 500 and the Nasdaq 100 extending record highs as strong earnings reinforced confidence in corporate America and investors continued to <a href="https://www.benzinga.com/topic/tariffs">shrug off trade tensions.</a>
By midday trading in New York, the S&amp;P 500 had climbed 0.6% to break above 6,330, the Nasdaq 100 rose 0.8% to 23,260, and the Dow Jones added 260 points, or 0.6%. 
Commerce Secretary Howard Lutnick reaffirmed the August 1 tariff deadline as &#8220;hard,&#8221; though he said that negotiation are set to continue.
See Also: <a href="https://www.benzinga.com/markets/economic-data/25/07/46521011/trump-stocks-bonds-foreign-inflows-record">Trump&#8217;s Economy Is Riding A Tsunami Of Inflows — So Much For &#8216;Sell America&#8217;</a>
Gold prices jumped 1.5% to $3,400 per ounce, hitting a one-month-high, while silver gained 1.9%, both lifted by renewed dollar weakness.
The U.S. dollar index slipped below 98 amid rising concerns over the Fed's independence. On Monday, Treasury Secretary Scott Bessent called for a review of the institution, telling CNBC that there's a need to "examine the entire Federal Reserve institution and whether they have been successful."
Meanwhile, President Donald Trump's prolonged criticism of Fed Chair Jerome Powell reignited speculation about a possible dismissal. According to CFTC-regulated betting platform Kalshi, there&#8217;s a 23% chance Powell could be removed by the end of the year. Powell is legally protected from being removed by Trump.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose 1.1% to $118,590, and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) added 1.8%, as digital asset demand remained strong following latest policy breakthroughs. 
<h3 class="wp-block-heading">Monday&#8217;s Performance Of Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>% Chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>23,258.14</td>
<td>0.8%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,253.86</td>
<td>0.6%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>6,335.66</td>
<td>0.6%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>44,602.93</td>
<td>0.6%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated by 12:00 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) rose 0.6% to $580.15.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 0.6% to $445.86.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;soared 0.8% to $565.17.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.6% to $223.58.</li>
<li>The&nbsp;Communication Services&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) outperformed, up 1.2%; the&nbsp;Energy&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 0.5%.</li>
</ul>
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers</h3>
<ul class="wp-block-list">
<li>Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) soared 4.7% after reporting stronger-than-expected quarterly results.</li>
<li>Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) is weighing the sale of several plants, including three idled facilities in Illinois and Pennsylvania. Shares jumped 7.8% to $10.22, with traders viewing the stock as undervalued.</li>
<li>Bruker Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRKR#NASDAQ">BRKR</a>) fell 14% to $57.84 after issuing preliminary second-quarter revenue guidance that came in below Wall Street estimates.</li>
<li>Block Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>) jumped 8.1% after it was announced Friday that the financial technology firm will join the S&amp;P 500 before Wednesday's open. </li>
<li>Stocks scheduled to report earnings Tuesday before the market open include Coca-Cola Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), Philip Morris International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PM#NYSE">PM</a>), RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>), Danaher Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHR#NYSE">DHR</a>), Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), Northrop Grumman Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>), General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>), PACCAR Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCAR#NASDAQ">PCAR</a>), MSCI Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSCI#NYSE">MSCI</a>) and D.R. Horton Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>). </li>
</ul>
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Image: Shutterstock

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Wall Street Extends Records, Gold Rallies To $3,400: What's Moving Markets Monday?

Northrop Grumman (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) is gearing up to announce its quarterly earnings on Tuesday, 2025-07-22. Here's a quick overview of what investors should know before the release.
Analysts are estimating that Northrop Grumman will report an earnings per share (EPS) of $6.69.
The announcement from Northrop Grumman is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.
It's worth noting for new investors that guidance can be a key determinant of stock price movements.
<h3>Earnings Track Record</h3>
During the last quarter, the company reported an EPS missed by $0.20, leading to a 1.85% increase in the share price on the subsequent day.
Here's a look at Northrop Grumman's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q1 2025</th>
<th>Q4 2024</th>
<th>Q3 2024</th>
<th>Q2 2024</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>6.26</td>
<td>6.35</td>
<td>6.07</td>
<td>5.93</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>6.06</td>
<td>6.39</td>
<td>7</td>
<td>6.36</td>
</tr>
<tr>
<td>Price Change %</td>
<td>2.0%</td>
<td>1.0%</td>
<td>-1.0%</td>
<td>2.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2025/1753110065_0.png" alt="eps graph" />
<h3>Tracking Northrop Grumman's Stock Performance</h3>
Shares of Northrop Grumman were trading at $519.04 as of July 18. Over the last 52-week period, shares are up 17.73%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<h3>Analyst Observations about Northrop Grumman</h3>
For investors, grasping market sentiments and expectations in the industry is vital. This analysis explores the latest insights regarding Northrop Grumman.
Analysts have given Northrop Grumman a total of 6 ratings, with the consensus rating being Outperform. The average one-year price target is $546.33, indicating a potential 5.26% upside.
<h3>Peer Ratings Overview</h3>
In this comparison, we explore the analyst ratings and average 1-year price targets of Howmet Aerospace, General Dynamics and Axon Enterprise, three prominent industry players, offering insights into their relative performance expectations and market positioning.
<ul>
<li>Analysts currently favor an Outperform trajectory for Howmet Aerospace, with an average 1-year price target of $179.75, suggesting a potential 65.37% downside.</li>
<li>Analysts currently favor an Buy trajectory for General Dynamics, with an average 1-year price target of $309.83, suggesting a potential 40.31% downside.</li>
<li>Analysts currently favor an Buy trajectory for Axon Enterprise, with an average 1-year price target of $782.86, suggesting a potential 50.83% upside.</li>
</ul>
<h3>Insights: Peer Analysis</h3>
The peer analysis summary outlines pivotal metrics for Howmet Aerospace, General Dynamics and Axon Enterprise, demonstrating their respective standings within the industry and offering valuable insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Northrop Grumman</td>
<td>Outperform</td>
<td>-6.56%</td>
<td>$1.58B</td>
<td>3.18%</td>
</tr>
<tr>
<td>Howmet Aerospace</td>
<td>Outperform</td>
<td>6.47%</td>
<td>$583M</td>
<td>7.43%</td>
</tr>
<tr>
<td>General Dynamics</td>
<td>Buy</td>
<td>13.90%</td>
<td>$1.89B</td>
<td>4.49%</td>
</tr>
<tr>
<td>Axon Enterprise</td>
<td>Buy</td>
<td>31.26%</td>
<td>$365.74M</td>
<td>3.60%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Northrop Grumman ranks at the bottom for Revenue Growth among its peers. It is also at the bottom for Gross Profit. However, it is in the middle for Return on Equity.
<h3>All You Need to Know About Northrop Grumman</h3>
Northrop Grumman is a diversified defense contractor providing aeronautics, defense, and space systems. The company's aerospace segment creates the fuselage for the massive F-35 program, produces autonomous and piloted aircraft such as Global Hawk drones and the new B-21 bomber, and maintains and upgrades numerous military aircraft. Defense systems makes artillery and missile ammunition and guidance systems, long-range missiles, and missile defense systems. Mission systems creates and integrates a variety of radar, navigation, and communication systems for avionics, weapons control, and countermeasures on a range of platforms from helicopters to destroyers. Space systems produces satellites, sensors, space structures, and rocket motors.
<h3>Northrop Grumman's Financial Performance</h3>
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Decline in Revenue: Over the 3 months period, Northrop Grumman faced challenges, resulting in a decline of approximately -6.56% in revenue growth as of 31 March, 2025. This signifies a reduction in the company's top-line earnings. When compared to others in the Industrials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of 5.08%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of 3.18%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): Northrop Grumman's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of 0.98%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: Northrop Grumman's debt-to-equity ratio is notably higher than the industry average. With a ratio of 1.07, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
<a href="https://www.benzinga.com/quote/NOC/earnings">To track all earnings releases for Northrop Grumman visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Glimpse of Northrop Grumman's Earnings Potential

Hadrian, a defense manufacturing startup, has successfully concluded a $260 million Series C funding round, led by Peter Thiel&#8217;s Founders Fund and Lux Capital.
What Happened: The funding will be utilized to establish a new 270,000 square foot factory in Mesa, Arizona, and expand its Torrance, California, location, CNBC <a href="https://www.cnbc.com/2025/07/17/hadrian-funding-round-thiel-founders-fund.html">reported</a> on Thursday.
The expansion is intended to strengthen Hadrian's shipbuilding and naval defense capabilities.
Hadrian&#8217;s CEO, Chris Power, emphasized the need for a substantial advancement in the U.S. manufacturing model compared to China&#8217;s.
The company is disrupting the traditional defense contracting industry, dominated by major players such as Northrop Grumman (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) and Lockheed Martin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), to enhance U.S. defense production and secure Department of Defense contracts.
The new Arizona facility, set to commence operations by Christmas, will generate 350 local jobs. Hadrian plans to establish four to five additional facilities within the next year to support Department of Defense requirements.
See Also: <a href="https://benzinga.com/markets/macro-economic-events/25/07/46485087/jerome-powell-defends-2-5-billion-fed-hq-overhaul-says-no-vip-dining-rooms-no-priva" target="_blank" rel="noopener">Jerome Powell Defends $2.5 Billion Fed HQ Overhaul, Says &#8216;No VIP Dining Rooms,&#8217; No Private Elevators As Trump Allies Slam Project Over Versailles-Style Excess</a>
Hadrian uses robotics and artificial intelligence to automate its factories, with the goal of boosting American worker productivity. The company says it can train employees in just 30 days and make them ten times more efficient.
Notable investors in this funding round include Andreessen Horowitz and Brad Gerstner&#8217;s Altimeter Capital. This round follows a $92 million funding round that the company closed in late 2023.
Why It Matters: The defense tech industry has been witnessing significant developments in recent times. In June, Anduril Industries secured <a href="https://www.benzinga.com/markets/market-summary/25/06/45810158/anduril-raises-2-5-billion-at-30-5-billion-valuation-doubling-in-a-year-as-defense-contracts-grow">$2.5 billion in fresh capital</a>, doubling its valuation to $30.5 billion. This marked a pivotal moment in the company&#8217;s rapid ascent within the national security sector. The funding was also led by Thiel&#8217;s Founders Fund.
Thiel&#8217;s influence in the <a href="https://www.benzinga.com/markets/equities/25/07/46214540/palmer-luckey-peter-thiel-joe-lonsdale-launch-erebor-bank-for-startups-crypto-and-defense-a-digital-only-bet-on-the-post-svb-era-report">defense tech sector has been growing</a>. In July, defense tech billionaire Palmer Luckey spearheaded the launch of Erebor, a digital-only bank targeting startups, cryptocurrency businesses, and defense contractors. The venture brought together a powerhouse of tech investors, including Thiel&#8217;s Founders Fund.
In 2024, Palantir Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) formed a <a href="https://www.benzinga.com/markets/equities/24/01/36613282/palantir-joins-forces-with-israeli-defense-ministry-in-war-tech-partnership-report">strategic partnership with the Israeli</a> Defense Ministry to support military operations, following talks in Tel Aviv between Israeli officials and Palantir co-founders Thiel and Alex Karp.
Read Next: 
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Robert Deutsch-Imagn Images

Peter Thiel-Backed Hadrian Raises $260 Million To Build AI-Powered Mega Factory In Arizona

The defense sector is on fire in 2025 — and investors are watching earnings season for signs <a href="https://www.benzinga.com/news/25/07/46344520/defense-stocks-outperform-tech-trump-budget-boost">the rally can continue.</a>
The iShares U.S. Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITA#NYSE">ITA</a>) is up 33% year-to-date through July 16, on track for its best annual return since 2013. 
The fund gained 25% in the first half alone, outperforming both the Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) and the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) by double-digit margins.
See Also: <a href="https://www.benzinga.com/markets/equities/25/07/46267993/lockheed-martin-tops-defense-peers-in-capital-efficiency-but-market-isnt-impressed">Lockheed Martin Tops Defense Peers In Capital Efficiency — But Market Isn&#8217;t Impressed</a>
<h2 class="wp-block-heading">Washington Fueled The Rally—Now Investors Want Results</h2>
Investors have already bought the rumors—now they want the facts. The explosive rally in defense stocks has been fueled by a fundamental shift in Washington's priorities and the rising tide of global tensions.
On July 4, President Donald Trump signed the "One Big Beautiful Bill Act," a sweeping defense package that injects $156.2 billion into the Pentagon—the largest single-year boost in over a decade. 
The bill directs tens of billions toward areas that could redefine the future of warfare and defense contracting. Shipbuilding alone receives $29.2 billion, while $24.4 billion is allocated to integrated air and missile defense—what the administration has dubbed the "Golden Dome" initiative. 
Another $25.4 billion is earmarked to strengthen munitions production and shore up supply chain resilience, and $16 billion will go toward scaling low-cost weapons systems. 
The budget also includes $10.8 billion to modernize the U.S. nuclear arsenal and $8.6 billion to support new air superiority projects.
<h3 class="wp-block-heading">Q2 2025 Defense Earnings Preview: Who Reports and When</h3>
Defense stocks slated to report earnings by the end of July include: 
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<thead>
<tr>
<th>Company</th>
<th>Earnings Date</th>
<th>YTD % Change</th>
</tr>
</thead>
<tbody>
<tr>
<td>AAR Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIR#NYSE">AIR</a>)</td>
<td>Wed Jul 16 (After-Market)</td>
<td>+21.48%</td>
</tr>
<tr>
<td>General Electric Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>)</td>
<td>Thu Jul 17 (Pre-Market)</td>
<td>+58.81%</td>
</tr>
<tr>
<td>RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>)</td>
<td>Tue Jul 22 (Pre-Market)</td>
<td>+29.12%</td>
</tr>
<tr>
<td>Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>)</td>
<td>Tue Jul 22 (Pre-Market)</td>
<td>-3.25%</td>
</tr>
<tr>
<td>Northrop Grumman Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>)</td>
<td>Tue Jul 22 (Pre-Market)</td>
<td>+10.37%</td>
</tr>
<tr>
<td>General Dynamics Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>)</td>
<td>Wed Jul 23 (During-Market)</td>
<td>+13.64%</td>
</tr>
<tr>
<td>L3Harris Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LHX#NYSE">LHX</a>)</td>
<td>Thu Jul 24 (Pre-Market)</td>
<td>+25.02%</td>
</tr>
<tr>
<td>Textron Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TXT#NYSE">TXT</a>)</td>
<td>Thu Jul 24 (During-Market)</td>
<td>+9.60%</td>
</tr>
<tr>
<td>Hexcel Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HXL#NYSE">HXL</a>)</td>
<td>Thu Jul 24 (After-Market)</td>
<td>-6.14%</td>
</tr>
<tr>
<td>Woodward Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>)</td>
<td>Mon Jul 28 (After-Market)</td>
<td>+51.46%</td>
</tr>
<tr>
<td>The Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>)</td>
<td>Tue Jul 29 (During-Market)</td>
<td>+29.40%</td>
</tr>
<tr>
<td>Leonardo DRS Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRS#NASDAQ">DRS</a>)</td>
<td>Wed Jul 30 (During-Market)</td>
<td>+49.25%</td>
</tr>
<tr>
<td>Sturm, Ruger &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RGR#NYSE">RGR</a>)</td>
<td>Wed Jul 30 (After-Market)</td>
<td>+0.66%</td>
</tr>
<tr>
<td>Howmet Aerospace Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HWM#NYSE">HWM</a>)</td>
<td>Thu Jul 31 (Pre-Market)</td>
<td>+67.99%</td>
</tr>
<tr>
<td>ATI Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATI#NYSE">ATI</a>)</td>
<td>Thu Jul 31 (Pre-Market)</td>
<td>+63.33%</td>
</tr>
<tr>
<td>Huntington Ingalls Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HII#NYSE">HII</a>)</td>
<td>Thu Jul 31 (During-Market)</td>
<td>+33.78%</td>
</tr>
</tbody>
</table>
</figure>
<h2 class="wp-block-heading">What Analysts Are Watching In Defense Earnings</h2>
With defense stocks sitting at record highs, Goldman Sachs analyst Noah Poponak cautions that expectations are running hot. 
In a July 16 preview, Poponak and his team mapped out where they see opportunity across the aerospace and defense landscape—and where the cracks might show.
<h4 class="wp-block-heading">Aerospace: Boeing Back in Focus</h4>
Goldman remains upbeat on aerospace industry, especially Boeing Co. , which delivered 60 aircraft in June—a clear improvement over earlier production trends. 
Supplier sentiment has also turned more positive, with stronger communication and steadier order flow.
Still, aircraft demand continues to exceed supply, a dynamic expected to last well into the next decade, supporting pricing power and margins across the industry.
&#8220;We like aerospace original equipment where supply remains below demand, there is multi-year growth visibility, and Boeing continues to improve production and delivery rates.&#8221; Poponak said. 
The aftermarket segment is thriving, growing faster than global available seat miles (ASMs) for four straight quarters. Goldman attributes this to pent-up demand, aging fleets, and strong pricing—a combination that should keep the sector buoyant even as near-term air travel shows signs of softening.
The business jet space looks more idiosyncratic. Leading indicators are plateauing, and while new production remains disciplined, Goldman expects fewer broad-based tailwinds going forward. Still, aftermarket sales here remain high quality and margin-rich.
<h4 class="wp-block-heading">Defense Tech: Emerging Winners</h4>
Goldman favors non-traditional defense tech firms, which stand to benefit from a Pentagon pivot toward nimble, cost-effective systems. 
While reconciliation funding may not hit second-quarter results directly, it's likely to surface in earnings call commentary—and eventually in backlog growth.
"Defense tech companies appear to be on the verge of receiving significant funding relative to their size," Poponak said.
Despite near-record Department of Defense funding, Goldman is cautious on legacy hardware contractors. 
Programs like the F-35 face funding cuts, and the Pentagon is pushing for tougher terms across the industry. Instead, Goldman prefers companies aligned with funded priorities like shipbuilding and missile defense.
<h4 class="wp-block-heading">Government IT: Pressure Mounts</h4>
In government IT, the risk is rising. DOGE contract reviews are leading to cancellations—most notably at Booz Allen Hamilton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAH#NYSE">BAH</a>). Margins, bookings, and guidance could all face pressure this quarter, particularly for firms reliant on traditional service contracts.
<h3 class="wp-block-heading">Goldman's Top Defense Picks And Red Flags For Q2</h3>
<ul class="wp-block-list">
<li>TransDigm (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDG#NYSE">TDG</a>) – Strong aftermarket growth, upside to earnings, and capital flexibility.</li>
<li>CAE Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAE#NYSE">CAE</a>) – Valuation play with improving execution under new management.</li>
<li>L3Harris – Well-positioned for growth; exposure to missile defense spending.</li>
<li>Huntington Ingalls – Beneficiary of shipbuilding funds, improving labor dynamics.</li>
</ul>
Stocks facing headwinds:
<ul class="wp-block-list">
<li>Booz Allen – DOGE scrutiny, slowing growth, and mounting contract risks.</li>
<li>Lockheed Martin – Uncertainty around core programs and contracting terms.</li>
<li>SAIC Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAIC#NYSE">SAIC</a>) – Back-end loaded year with potential margin compression.</li>
<li>V2X Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VVX#NYSE">VVX</a>) – Weak first quarter, high execution risk in the second half.</li>
</ul>
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Defense Stocks Head Into Earnings At Record Highs — Is The Boom Just Beginning?

<a href="https://x.com/xai/status/1944776899420377134" title="https://x.com/xai/status/1944776899420377134">https://x.com/xai/status/1944776899420377134</a>

MSFT

xAI Posts On X "Announcing Grok for Government - a suite of products that make our frontier models available to United States Government customers. We are especially excited about two new partnerships for our US Government partners. 1) a new contract from the US Department of Defense. 2) our products being available to purchase via the General Services Administration (GSA) schedule. This allows every federal government department, agency, or office, to purchase xAI products .."

While investors obsess over record highs in the S&amp;P 500 and Nasdaq 100, one sector quietly crushed them both last quarter, and real money <a href="https://www.benzinga.com/money/best-aerospace-defense-stocks">is pouring in fast.</a>
In the first half of 2025, the iShares U.S. Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITA#NYSE">ITA</a>) surged 25%, marking the fund's best half-year performance since inception. That's a 20 percentage point outperformance over the Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) and 17 points above the tech-heavy Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>).
<h3 class="wp-block-heading">Defense Stocks Crushed Tech In Last Quarter's Rally</h3>
But the blowout mainly occurred in the second quarter. The ITA ETF surged 23.2% between April and June, its best quarter ever, outpacing the Nasdaq 100's sharpest rally since early 2023 by five percentage points.
Crucially, this isn't just momentum chasing. Investors have committed capital, with ITA notching 10 straight weeks of inflows through July 10—the longest stretch since early 2023.
<h3 class="wp-block-heading">Best Defense Stocks In 2025</h3>
Among ITA's top holdings, nine of the top 10 are firmly in the green for the year as of July 10, with only Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) trailing. Here&#8217;s a look at how the biggest names are performing:
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<thead>
<tr>
<th>Name</th>
<th>Weight in ITA ETF</th>
<th>Return YTD</th>
</tr>
</thead>
<tbody>
<tr>
<td>General Electric Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>)</td>
<td>20.00%</td>
<td>+50.59%</td>
</tr>
<tr>
<td>RTX Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>)</td>
<td>14.70%</td>
<td>+27.61%</td>
</tr>
<tr>
<td>The Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>)</td>
<td>9.22%</td>
<td>+28.02%</td>
</tr>
<tr>
<td>General Dynamics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>)</td>
<td>4.66%</td>
<td>+15.67%</td>
</tr>
<tr>
<td>TransDigm Group Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDG#NYSE">TDG</a>)</td>
<td>4.63%</td>
<td>+20.45%</td>
</tr>
<tr>
<td>Howmet Aerospace Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HWM#NYSE">HWM</a>)</td>
<td>4.55%</td>
<td>+66.11%</td>
</tr>
<tr>
<td>L3Harris Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LHX#NYSE">LHX</a>)</td>
<td>4.51%</td>
<td>+24.48%</td>
</tr>
<tr>
<td>Northrop Grumman Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>)</td>
<td>4.47%</td>
<td>+9.24%</td>
</tr>
<tr>
<td>Axon Enterprise Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXON#NASDAQ">AXON</a>)</td>
<td>4.40%</td>
<td>+35.59%</td>
</tr>
<tr>
<td>Lockheed Martin Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>)</td>
<td>4.39%</td>
<td>-3.34%</td>
</tr>
</tbody>
</table>
</figure>
Why Is The Defense Sector Booming?
This rally in defense stocks isn&#8217;t just about earnings—it's about Washington policy, global geopolitical risks, and budget flows.
Following years of underinvestment, Trump's return to the White House has kicked off a rearmament cycle.
On July 4, Trump signed the "One Big Beautiful Bill Act", unlocking $156.2 billion in targeted defense funding—the Pentagon's biggest budget infusion in over a decade.
<h3 class="wp-block-heading">What's Inside The New Defense Bill?</h3>
The funding, detailed in Title II of the act, includes:
<ul class="wp-block-list">
<li>$29.2 billion for shipbuilding</li>
<li>$24.4 billion for integrated air and missile defense – the "Golden Dome" initiative</li>
<li>$25.4 billion for munitions and supply chain resilience</li>
<li>$16.0 billion for low-cost weapons scaling</li>
<li>$8.6 billion for air superiority projects</li>
<li>$10.8 billion for nuclear force upgrades</li>
</ul>
<h3 class="wp-block-heading">Defense Stocks Wall Street Is Watching Now</h3>
In a note shared earlier this week, Goldman Sachs analyst Noah Poponak flagged four defense contractors as top beneficiaries of the Pentagon&#8217;s defense spending:
<ul class="wp-block-list">
<li>Huntington Ingalls Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HII#NYSE">HII</a>): Backed by over $5 billion in industrial supply chain funding. Already awarded a $1.3 billion workforce grant.</li>
<li>L3Harris Technologies Inc.: Poised to win missile propulsion and satellite contracts tied to the Golden Dome program.</li>
<li>Kratos Defense &amp; Security Solutions Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KTOS#NASDAQ">KTOS</a>): Builds low-cost drones and propulsion systems, a core focus in the Pentagon's push for affordable mass-produced systems. Shares of KTOS have already rallied over 70% year-to-date, marking the best performance in the ITA ETF. </li>
<li>AeroVironment Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVAV#NASDAQ">AVAV</a>): Developer of Switchblade tactical drones, a likely beneficiary of $1.4 billion in small unmanned aerial systems funding.</li>
</ul>
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Deutsche Bank analyst Scott Deuschle downgrades Northrop Grumman (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) from Buy to Hold and lowers the price target from $580 to $542.

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Deutsche Bank Downgrades Northrop Grumman to Hold, Lowers Price Target to $542

Anduril Industries CEO Palmer Luckey publicly thanked President Donald Trump on Monday after the president announced resumed U.S. weapons shipments to Ukraine, marking a significant policy shift for the defense technology executive&#8217;s company.
What Happened: &#8220;Thank you, Donald Trump!&#8221; Luckey wrote on X, responding to Trump&#8217;s declaration that the United States would send additional arms to help Ukraine defend against Russian attacks. 
The president&#8217;s comments came during a meeting with Israeli Prime Minister Benjamin Netanyahu, where Trump stated: &#8220;We have to. They have to be able to defend themselves. They&#8217;re getting hit very hard. We&#8217;re going to have to send more weapons.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Thank you, <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a>! <a href="https://t.co/hYGPUzAA1W">https://t.co/hYGPUzAA1W</a>
&mdash; Palmer Luckey (@PalmerLuckey) <a href="https://twitter.com/PalmerLuckey/status/1942411606287163770?ref_src=twsrc%5Etfw">July 8, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
According <a href="https://www.wsj.com/politics/national-security/trump-told-zelensky-he-wasnt-responsible-for-weapons-holdup-f684444b">to</a> the Wall Street Journal, Trump&#8217;s announcement represents the strongest indication yet that he has embraced strengthening Ukraine&#8217;s defenses after months of unsuccessful negotiations with Moscow.
Pentagon spokesman Sean Parnell confirmed late Monday that the Department of Defense would send additional defensive weapons &#8220;at President Trump&#8217;s direction.&#8221;
The weapons resumption follows a controversial pause in shipments that surprised the State Department, Congress, and Ukrainian officials.
The halted deliveries included Patriot antimissile interceptors, AIM-120 antiaircraft missiles, howitzer rounds, and GMLRS missiles for HIMARS rocket launchers, according to a WSJ report, which cited sources.
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Why It Matters: Luckey&#8217;s company has significant exposure to Ukraine&#8217;s defense needs. The Southern California-based contractor disclosed in July that its autonomous weapons systems destroyed &#8220;hundreds of millions&#8221; worth of Russian military assets since deploying personnel and hardware <a href="https://www.benzinga.com/markets/tech/25/07/46238717/anduril-ceo-palmer-luckey-says-weapons-destroyed-hundreds-of-millions-in-russian-assets-urges-us-military-aid-to-ukraine">just two weeks into the invasion</a>.
Anduril recently raised $2.5 billion at a $30.5 billion valuation, more than doubling from last year&#8217;s $14 billion mark.
The defense sector has benefited from surging global military spending, which <a href="https://www.benzinga.com/25/04/45032800/global-defense-budgets-surge-to-27-trillion-as-europe-and-middle-east-lead-steepest-increase-since-cold-war-report">rose 9.4% to $2.72 trillion in 2024</a>. The U.S. has provided $66.9 billion in military assistance to Ukraine since Russia&#8217;s 2022 invasion, with the last major package worth $1.22 billion approved in December under the Biden administration.
Trump told Ukrainian President Volodymyr Zelensky in a Friday phone call that he wasn&#8217;t responsible for the weapons halt, which came after a Pentagon munitions review following U.S. strikes on Iran&#8217;s nuclear sites, according to WSJ. The White House National Security Council will meet on Tuesday to discuss new weapons deliveries.
Defense stocks have rallied on <a href="https://www.benzinga.com/25/03/44378672/defense-stocks-are-soaring-expert-sees-170-as-achievable-by-year-end-for-this-preferred-pick">increased military spending expectations</a>, with analysts targeting RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) at $170 by year-end.
Other major contractors, including Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) and Northrop Grumman Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>), stand to benefit from sustained defense demand driven by NATO budget increases and global tensions.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Tada Images / Shutterstock.com

Anduril CEO Palmer Luckey Says 'Thank You' As Trump Resumes Ukraine Arms Shipments

Nearly six months into President Donald Trump's second term, the market has picked its winners—and it's not on ESG, the strategy built around environmental,<a href="https://www.benzinga.com/markets/esg"> social and governance principles.</a>
As deregulation gains steam and culture wars escalate, a group of so-called &#8220;sin stocks&#8221; tied to guns, booze, tobacco, and gambling is sharply beating clean investing strategies.
<h3 class="wp-block-heading">Sin Stocks Are Smoking ESG—and Trump Might Be The Reason</h3>
Since Trump's inauguration on Jan. 20, 2025, the USA Mutuals Vice Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VICEX#NASDAQ">VICEX</a>) — a portfolio built around industries typically shunned by ethical investors — has jumped 16.4%. By contrast:
<ul class="wp-block-list">
<li>The Vanguard ESG U.S. Stock ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESGV#NYSE">ESGV</a>) is up just 3.5%.</li>
<li>The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) gained 4.2%.</li>
<li>The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 6%. </li>
</ul>
This shift reflects a broader investor reallocation toward industries that benefit from Trump's deregulatory, America-first agenda—and away from sectors screened for ESG compliance.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="529" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/07105031/image-66-1024x529.png" alt="" class="wp-image-975026" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/07105031/image-66-1024x529.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/07105031/image-66-300x155.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/07105031/image-66-768x397.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/07105031/image-66-1536x794.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/07105031/image-66-2048x1059.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">What's Driving Sin Stocks Higher?</h2>
The USA Mutuals Vice Fund, launched in 2002, invests at least 80% of its assets in companies tied to alcohol, tobacco, gambling, and defense.
It concentrates a minimum of 25% in these four "vice industries," which the fund defines as sectors often subject to social disapproval or regulatory risk. 
No single industry makes up more than 80% of the portfolio. The fund also maintains global exposure, investing at least 40% of assets in non-U.S. companies across a minimum of three countries.
 Its top holdings as of March 31, 2025 have delivered eye-catching returns in 2025:
<ul class="wp-block-list">
<li>BAE Systems plc (OTCPK: BAESY): +79.3%</li>
<li>Philip Morris International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PM#NYSE">PM</a>): +51.8%</li>
<li>British American Tobacco p.l.c. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTI#NYSE">BTI</a>): +46.9%</li>
<li>Anheuser-Busch InBev SA/NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>): +38.8%</li>
<li>RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>): +28.0%</li>
<li>Alibaba Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>): +28.5%</li>
<li>Heineken N.V. (OTCPK: HEINY): +25.9%</li>
<li>Northrop Grumman Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>): +9.4%</li>
<li>Diageo plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEO#NYSE">DEO</a>): -17.1% (the lone laggard). </li>
</ul>
In particular, a portfolio of defense contractors—tracked by the iShares U.S. Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITA#NYSE">ITA</a>)—has surged 25% year-to-date, fueled by rising geopolitical tensions and further escalated by the recent Israel–Iran war.
&#8220;The Vice Fund remains committed to its core belief that certain stocks are undervalued because certain factions of society deem them morally questionable,&#8221; said portfolio manager Paul Strehle in the fund's latest quarterly report.
&#8220;Our core holdings remain military defense, casino, alcohol, and tobacco stocks because they typically have an inelastic customer base that is unlikely to be swayed by whether the product price rises or falls,&#8221; he added. 
<h2 class="wp-block-heading">ESG Stocks Struggle Despite Big Tech Exposure</h2>
Despite the Vanguard ESG U.S. Stock ETF including several of the market's strongest tech names, it hasn't kept up with vice stocks. 
Top 10 ESGV Holdings and 2025 YTD Returns:
<ul class="wp-block-list">
<li>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>): +18.1%</li>
<li>Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>): +18.6%</li>
<li>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>): -15.1%</li>
<li>Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>): +2.0%</li>
<li>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>): +24.3%</li>
<li>Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>): +20.0%</li>
<li>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>): -6.1%</li>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>): -27.4%</li>
<li>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>): -6.1%</li>
<li>JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>): +24.8%</li>
</ul>
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/25/07/46271577/trumps-big-beautiful-bill-slashes-solar-incentives-cathie-woods-ark-says-nuclear-may-now-be-cheapest-option-oklo-smr-ltbr-and-other-stocks-in-focus">Trump&#8217;s Big Beautiful Bill Slashes Solar Incentives — Cathie Wood&#8217;s Ark Says Nuclear May Now Be Cheapest Option: OKLO, SMR, LTBR And Other Stocks In Focus </a></li>
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AAPL

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BABA

ESGV

GOOGL

HEINY

NVDA

TSLA

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Guns, Booze, And Gambling Stocks Are Crushing ESG In Trump's America

Lockheed Martin Corp. is a defense company that uses its capital to generate profits most efficiently as compared to its peers; however, the year-over-year growth of this specific metric has been tepid.
What Happened: A company&#8217;s capital efficiency, or how profitable a company is with the capital it has put to use, is measured by ROCE or Return on Capital Employed.
When a company demonstrates consistently growing ROCE, it signals its ability to be a compounding machine, skillfully reinvesting profits back into the business for increasingly higher returns.
In the case of defense stocks, Lockheed Martin has the highest ROCE among its peers, representing the management&#8217;s effectiveness in deploying capital for productive use.
As of the quarter ending March, LMT had an ROCE of 25.71%, higher than 22.97% from the same quarter of the previous year, highlights GuruFocus data.
As the year-over-year expansion was minimal, it might not be a super high-growth stock; however, Lockheed Martin&#8217;s solid 25.71% return on capital shows it&#8217;s running a really efficient business.
That strong performance probably explains why Lockheed Martin is a high-yielding stock and has a history of consistent dividend increases, with the current dividend yield at 2.85%, according to <a href="https://www.benzinga.com/quote/LMT/dividends">Benzinga</a>. 
Here is a list of a few other defense stocks with their current ROCE.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>U.S. Defense Stocks</td>
<td>ROCE</td>
</tr>
<tr>
<td>Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>)</td>
<td>12.67%.</td>
</tr>
<tr>
<td>General Dynamics Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>)</td>
<td>13.37%</td>
</tr>
<tr>
<td>Northrop Grumman Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>)</td>
<td>8.42%</td>
</tr>
<tr>
<td>Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>)</td>
<td>25.71%.</td>
</tr>
<tr>
<td>Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>)</td>
<td>5.59%</td>
</tr>
<tr>
<td>RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>)</td>
<td>8.80%</td>
</tr>
<tr>
<td>General Electric Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>)</td>
<td>11.04%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Source: GuruFocus</figcaption></figure>
See Also: <a href="https://www.benzinga.com/markets/equities/25/07/46259795/everyone-talked-about-nvidia-apple-and-tesla-but-this-one-tech-stock-has-left-them-all-behind-in-2025">Everyone Talked About Nvidia, Apple And Tesla, But This One Tech Stock Has Left Them All Behind In 2025</a>
Why It Matters: Despite the high quality of the capital efficiency metric, Lockheed Martin stock has performed the worst among the given peers.
It has declined by over 4% in 2025 and is just above the flatline over a year. On the other hand, Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) remains the stock with the highest returns among its peers.
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<tbody>
<tr>
<td>U.S. Defense Stocks</td>
<td>YTD Performance</td>
<td>One Year Performance</td>
</tr>
<tr>
<td>Palantir Technologies Inc.</td>
<td>78.69%</td>
<td>385.05%</td>
</tr>
<tr>
<td>General Dynamics Corp.</td>
<td>12.93%</td>
<td>5.10%</td>
</tr>
<tr>
<td>Northrop Grumman Corp.</td>
<td>7.73%</td>
<td>17.19%</td>
</tr>
<tr>
<td>Lockheed Martin Corp.</td>
<td>-4.09%</td>
<td>0.16%</td>
</tr>
<tr>
<td>Boeing Co.</td>
<td>25.63%</td>
<td>16.19%</td>
</tr>
<tr>
<td>RTX Corp.</td>
<td>25.64%</td>
<td>45.60%</td>
</tr>
<tr>
<td>General Electric Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>)</td>
<td>46.44%</td>
<td>50.97%</td>
</tr>
</tbody>
</table>
</figure>
Benzinga Edge Stock Rankings shows that LMT had a stronger price trend over the medium term and a weaker trend over the short and long term. Its momentum ranking was moderate, and its value ranking was poor at the 31.60th percentile. The details of other metrics are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here</a>.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-4/#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="1024" height="157" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/07012236/LMT-EDGE-1024x157.png" alt="" class="wp-image-974030" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/07012236/LMT-EDGE-1024x157.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/07012236/LMT-EDGE-300x46.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/07012236/LMT-EDGE-768x118.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/07012236/LMT-EDGE.png 1279w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
On the truncated trading day of July 3rd, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, scaled fresh records and ended higher. The SPY was up 0.79% at $625.34, while the QQQ advanced 0.98% to $556.22, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
On Monday, the futures of the S&amp;P 500, Dow Jones, and Nasdaq 100 indices were trading lower.
Read Next:
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Photo courtesy: JHVEPhoto / Shutterstock.com

Lockheed Martin Tops Defense Peers In Capital Efficiency — But Market Isn't Impressed

Each week, Benzinga's Stock Whisper Index uses a combination of proprietary data and pattern recognition to showcase five stocks that are just under the <a href="https://www.benzinga.com/topic/stock-whisper-index" target="_blank" rel="noreferrer noopener">surface and deserve attention</a>.
Investors are constantly on the hunt for undervalued, under-followed and emerging stocks. With countless methods available to retail traders, the challenge often lies in sifting through the abundance of information to uncover new opportunities and understand why certain stocks should be of interest.
Read Also: <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/06/46157351/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-71">EXCLUSIVE: June&#8217;s 20 Most-Searched Tickers On Benzinga Pro — Where Do CoreWeave, Nvidia, Apple Stock Rank?</a>
Here&#8217;s a look at the Benzinga Stock Whisper Index for the week ending July 4:
US Foods Holding Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USFD#NYSE">USFD</a>): The food service distributor saw increased interest from readers during the shortened holiday week. JPMorgan maintained a Neutral rating on the stock while <a href="https://www.benzinga.com/quote/USFD/analyst-ratings">raising the price target </a>from $82 to $85. US Foods shares trade near all time highs with momentum coming from the earnings report <a href="https://www.benzinga.com/25/05/45297979/whats-going-on-with-us-foods-stock-on-thursday">back in May.</a> The company missed Street estimates for earnings per share and revenue, while reporting a 4.5% year-over-year sales increase and increased gross profits and total case volume. The company's net income was up 40% year-over-year in the first quarter. After a strong quarterly report and a June defense agency contract award win, the company could be one to watch.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0703"><img loading="lazy" decoding="async" width="999" height="497" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/03165727/Screenshot-486.png" alt="" class="wp-image-972632" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/03165727/Screenshot-486.png 999w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/03165727/Screenshot-486-300x149.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/03165727/Screenshot-486-768x382.png 768w" sizes="(max-width: 999px) 100vw, 999px" /></a></figure>
Franco-Nevada Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FNV#NYSE">FNV</a>): Interest has been rising in gold and precious metals stocks in recent weeks. This week's Stock Whisper Index sees a precious metals company make it, but one of a different nature. Unlike past stocks that mine the metals that have made the list, Franco-Nevada is a gold-focused royalty and streaming company. The company does not operate mines or conduct exploration, instead owning a portfolio of royalties and streams. Franco-Nevada has a history of increasing its dividend and could be viewed as a safer bet in the sector than some of the other companies. UBS maintained a Buy rating and <a href="https://www.benzinga.com/quote/FNV/analyst-ratings">raised the price target</a> from $205 to $210.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0703"><img loading="lazy" decoding="async" width="997" height="496" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/03165742/Screenshot-487.png" alt="" class="wp-image-972633" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/03165742/Screenshot-487.png 997w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/03165742/Screenshot-487-300x149.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/03165742/Screenshot-487-768x382.png 768w" sizes="(max-width: 997px) 100vw, 997px" /></a></figure>
Johnson Controls International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JCI#NYSE">JCI</a>): The commercial HVAC and building management company saw strong interest from readers during the week, which comes with analysts increasing their price target on the stock in recent months. Johnson Controls shares recently hit new all time highs with the stock up 35% year-to-date in 2025. Investors could be getting ready for upcoming third-quarter financial results, which are expected in late July. The company has beaten analyst estimates for earnings per share and revenue in two straight quarters. The strong recent earnings momentum along with an increased share buyback plan could see shares continue to take out new highs.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0703"><img loading="lazy" decoding="async" width="995" height="505" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/03165757/Screenshot-488.png" alt="" class="wp-image-972634" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/03165757/Screenshot-488.png 995w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/03165757/Screenshot-488-300x152.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/03165757/Screenshot-488-768x390.png 768w" sizes="(max-width: 995px) 100vw, 995px" /></a></figure>
Northrop Grumman Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>): One of the largest defense contractors, Northrop Grumman saw increased interest from readers during the week with tensions in the Middle East<a href="https://www.benzinga.com/markets/equities/25/06/46045651/northrop-grumman-jumps-5-overnight-as-b-2-bombers-return-to-missouri-after-36-hour-iran-strike-trump-says-job-well-done"> remaining heightened.</a> The company manufactures the B2 bomber and is involved in several other top defense weapons used. Investors are likely anticipating the company's second-quarter financial results later this month with analysts forecasting earnings per share to grow to $6.70 and revenue to decline to $10.11 billion. The company has beaten analyst estimates for earnings per share in nine of the last 10 quarters and for revenue in seven of the last 10 quarters. Northrop Grumman could be a winner if tension escalates in the Middle East and potentially thanks to increased defense spending by the US and other nations.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0703"><img loading="lazy" decoding="async" width="999" height="503" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/03165811/Screenshot-489.png" alt="" class="wp-image-972635" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/03165811/Screenshot-489.png 999w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/03165811/Screenshot-489-300x151.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/03165811/Screenshot-489-768x387.png 768w" sizes="(max-width: 999px) 100vw, 999px" /></a></figure>
Gilead Sciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>): The biotech best known for its work on HIV and Hepatitis drugs recently<a href="https://www.benzinga.com/news/fda/25/06/46023093/fda-approves-gileads-game-changing-twice-yearly-shot-to-prevent-hiv-transmission-critics-slam-28k-price-tag"> received FDA approval</a> for Yeztugo, the first and only twice-yearly option in the US for pre-exposure prophylaxis to reduce the risk of HIV in adults. While the company received approval there are questions over how much the drug will be priced at with Gilead working with insurers to increase coverage options. High pricing of the drug could cause pushback against the company, while also helping boost revenue and earnings. Gilead is set to report quarterly financial results in August and could provide an update on the drug. The company has beaten analyst estimates in five straight quarters and beaten analyst revenue estimates in nine of the last 10 quarters.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0703"><img loading="lazy" decoding="async" width="1001" height="494" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/03165827/Screenshot-490.png" alt="" class="wp-image-972636" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/03165827/Screenshot-490.png 1001w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/03165827/Screenshot-490-300x148.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/07/03165827/Screenshot-490-768x379.png 768w" sizes="(max-width: 1001px) 100vw, 1001px" /></a></figure>
Stay tuned for next week's report, and follow Benzinga Pro for all the latest headlines and <a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0703" target="_blank" rel="noreferrer noopener">top market-moving stories here.</a>
Read the latest Stock Whisper Index reports here:
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/06/45827517/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-68" target="_blank" rel="noreferrer noopener">June 6</a></li>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/06/45938888/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-69" target="_blank" rel="noreferrer noopener">June 13</a></li>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/06/46043300/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-70" target="_blank" rel="noreferrer noopener">June 20</a></li>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/06/46157351/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet-71">June 27</a></li>
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The Pentagon said on Wednesday that U.S. strikes on Iranian nuclear facilities have degraded Iran&#8217;s nuclear program by up to two years, marking a significant escalation in the assessment of the military operation&#8217;s impact.
What Happened: Pentagon spokesman Sean Parnell told reporters the official estimate was &#8220;probably closer to two years,&#8221; though he provided no evidence to support the assessment. &#8220;We have degraded their program by one to two years, at least intel assessments inside the Department (of Defense) assess that,&#8221; Parnell said.
The strikes occurred on June 22 when U.S. B-2 stealth bombers made by Northrop Grumman Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) <a href="https://www.benzinga.com/news/politics/25/06/46162332/iran-demands-us-guarantee-of-no-further-strikes-before-nuclear-talks-resume-are-we-going-to-see-a-repetition">targeted three Iranian nuclear facilities</a> at Fordo, Natanz, and Isfahan.
The Pentagon&#8217;s assessment contradicts earlier leaked Defense Intelligence Agency estimates suggesting the strikes only delayed Iran&#8217;s program by months. Secretary of State Marco Rubio defended the operation&#8217;s effectiveness, saying the destruction of <a href="https://www.benzinga.com/news/politics/25/06/46132996/marco-rubio-says-everything-under-the-mountains-is-in-bad-shape-rubbishes-claim-trump-strikes-only-bought-iran-time">Iran&#8217;s conversion facility at Esfahan was decisive</a>. &#8220;Everything underneath that mountain is in bad shape,&#8221; Rubio said.
See Also: <a href="https://www.benzinga.com/news/politics/25/07/46238084/ex-obama-treasury-secretary-jack-lew-sounds-alarm-on-nyc-under-zohran-mamdani-i-worry-deeply">Ex-Obama Treasury Secretary Jack Lew Sounds Alarm On NYC Under Zohran Mamdani: &#8216;I Worry Deeply&#8217;</a>
Why It Matters: The strikes followed a 12-day Israel-Iran conflict that began June 13 when Israel targeted Iranian nuclear sites, claiming Tehran was close to building nuclear weapons. Iran responded with missile attacks <a href="https://www.benzinga.com/news/politics/25/06/46162332/iran-demands-us-guarantee-of-no-further-strikes-before-nuclear-talks-resume-are-we-going-to-see-a-repetition">before direct U.S. intervention</a>.
Central Intelligence Agency Director John Ratcliffe confirmed the strikes &#8220;severely damaged&#8221; Iran&#8217;s nuclear program, citing &#8220;credible evidence&#8221; of <a href="https://www.benzinga.com/news/politics/25/06/46107752/trump-announces-iran-nuclear-talks-following-us-strikes-that-severely-damaged-iranian-nuclear-program">destroyed key facilities</a>. However, International Atomic Energy Agency head Rafael Grossi said Iran could restart uranium enrichment within &#8220;a matter of months.&#8221;
Markets responded positively to ceasefire prospects. Wedbush Securities analyst <a href="https://www.benzinga.com/news/politics/25/06/46162332/iran-demands-us-guarantee-of-no-further-strikes-before-nuclear-talks-resume-are-we-going-to-see-a-repetition">Dan Ives </a>called the Iran-Israel ceasefire &#8220;the most bullish outcome&#8221; for Wall Street, <a href="https://www.benzinga.com/news/politics/25/06/46162332/iran-demands-us-guarantee-of-no-further-strikes-before-nuclear-talks-resume-are-we-going-to-see-a-repetition">predicting 2-3% gains for major indices</a>.
Iran&#8217;s Deputy Foreign Minister Majid Takht-Ravanchi told the BBC that the U.S. must guarantee no additional military strikes before <a href="https://www.benzinga.com/news/politics/25/06/46162332/iran-demands-us-guarantee-of-no-further-strikes-before-nuclear-talks-resume-are-we-going-to-see-a-repetition">Tehran will resume nuclear negotiations</a>. Iranian Ambassador to the UN Amir-Saeid Iravani separately told CBS that uranium enrichment will &#8220;never stop,&#8221; citing it as an &#8220;inalienable right&#8221; under the Nuclear Non-Proliferation Treaty.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Mike Mareen / Shutterstock.com

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