Jim Cramer on Northrop Grumman: "I Want to Own the Stock"

Northrop Grumman Corporation (NYSE:NOC) is one of the stocks Jim Cramer was recently focused on. Inquiring about the stock, a caller asked if it is a good time to sell or to “let it ride”. Cramer replied:

“No, no, no, no. It’s a high-quality company. Very good company. Good balance sheet, smart people. I want to own the stock. Own it. I’ll give you RTX too. I think that works in a similar fashion.”

Northrop Grumman Corporation (NYSE:NOC) develops aerospace and defense technologies, including advanced aircraft, unmanned systems, missiles, precision weapons, and missile defense solutions. The company also provides space systems, satellites, launch vehicles, command and control technologies, sensors, cyber solutions, and sustainment services. During the September 5 episode, when a caller asked for Cramer’s advice on the stock, he responded:

“I’m going to say weak hold. I don’t like the traditional hardware defense stocks, particularly if they’re up a lot, which happens to be the case of Northrop Grumman. So… a little profit-taking there. It’s a little above the market multiple.”

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