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New NOC Investment

Mar. 02, 2021 4:17 PM ETNorthrop Grumman Corporation (NOC)
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  • I bought 20 shares at $293.46/share for a total of $5,869.20.
  • NOC is at fair value.
  • NOC is a future space age hi-tech defense company with a positive secular story.

Good value is hard to find in this overall highly valued market. Hence I am opening an investment in NOC. I believe in the NOC thesis: a strong defense company in a USA that simply needs to keep investing in defense.

NOC has a current blended PE of 12.41. This compares to 20, 15, 10, 5, and 3 year average PEs of 13.83, 12.94, 15.87, 13.53, and 12.88. So I see fair value here. And maybe in time NOC as a space age company the PE can be a bit higher? Here is a depiction.

I like the revenue growth depicted below. This is an investment for the future. Again, a space age future where companies merging software, AI, materials, and robots will colonize the universe.

I am hoping to beat the S&P500. As you can see in the previous Fast Graphs chart, 11.4% annual ROR across 20 years. As always, I am prepared to add more. Fingers crossed.

Analyst's Disclosure: I am/we are long NOC.

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