499 Shares in Northrop Grumman Corporation $NOC Bought by ICONIQ Capital LLC

Key Points

• ICONIQ Capital LLC acquired 499 shares of Northrop Grumman Corporation, valued at approximately $255,000, marking a new investment in the aerospace company in Q1.
• Other institutional investors have significantly increased their positions, with GAMMA Investing LLC raising its stake by an astounding 55,522.3% in the same quarter.
• Northrop Grumman reported a Q2 EPS of $7.11, surpassing estimates, and set its FY 2025 EPS guidance at 25.000-25.400.

ICONIQ Capital LLC bought a new position in Northrop Grumman Corporation (NYSE:NOC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 499 shares of the aerospace company's stock, valued at approximately $255,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NOC. GAMMA Investing LLC raised its stake in Northrop Grumman by 55,522.3% in the 1st quarter. GAMMA Investing LLC now owns 1,520,158 shares of the aerospace company's stock worth $778,336,000 after acquiring an additional 1,517,425 shares during the last quarter. Wellington Management Group LLP raised its stake in Northrop Grumman by 23.4% in the 1st quarter. Wellington Management Group LLP now owns 5,139,333 shares of the aerospace company's stock worth $2,631,390,000 after acquiring an additional 974,633 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Northrop Grumman by 1,425.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,001,198 shares of the aerospace company's stock worth $512,624,000 after acquiring an additional 935,554 shares during the last quarter. Nuveen LLC purchased a new position in Northrop Grumman in the 1st quarter worth $369,205,000. Finally, Vanguard Group Inc. raised its stake in Northrop Grumman by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 13,266,301 shares of the aerospace company's stock worth $6,792,479,000 after acquiring an additional 588,520 shares during the last quarter. Hedge funds and other institutional investors own 83.40% of the company's stock.

Northrop Grumman Price Performance

NYSE:NOC opened at $586.6550 on Tuesday. Northrop Grumman Corporation has a 52 week low of $426.24 and a 52 week high of $600.99. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $84.00 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 5.67 and a beta of 0.15. The stock's 50-day moving average price is $543.26 and its 200-day moving average price is $505.78.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 EPS for the quarter, beating analysts' consensus estimates of $6.84 by $0.27. Northrop Grumman had a return on equity of 25.52% and a net margin of 9.74%.The firm had revenue of $10.35 billion for the quarter, compared to analysts' expectations of $10.15 billion. During the same period last year, the firm earned $6.36 EPS. The company's quarterly revenue was up 1.3% on a year-over-year basis. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. As a group, equities analysts expect that Northrop Grumman Corporation will post 28.05 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $2.31 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.6%. Northrop Grumman's dividend payout ratio (DPR) is 34.06%.

Insiders Place Their Bets

In other news, VP Thomas H. Jones sold 729 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $505.77, for a total transaction of $368,706.33. Following the sale, the vice president directly owned 7,552 shares in the company, valued at $3,819,575.04. This trade represents a 8.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert J. Fleming sold 3,500 shares of Northrop Grumman stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $505.77, for a total value of $1,770,195.00. Following the completion of the sale, the vice president owned 1,827 shares in the company, valued at approximately $924,041.79. The trade was a 65.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,536 shares of company stock valued at $8,306,857 over the last quarter. Insiders own 0.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NOC. Susquehanna lifted their price objective on Northrop Grumman from $557.00 to $650.00 and gave the company a "positive" rating in a research note on Tuesday, July 22nd. Truist Financial reiterated a "buy" rating and set a $625.00 price objective (up previously from $550.00) on shares of Northrop Grumman in a research note on Wednesday, July 23rd. Sanford C. Bernstein reiterated a "market perform" rating on shares of Northrop Grumman in a research note on Monday, July 14th. Wells Fargo & Company reiterated an "overweight" rating on shares of Northrop Grumman in a research note on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on Northrop Grumman from $480.00 to $585.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $586.79.

About Northrop Grumman

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.

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