Acadian Asset Management LLC Purchases 60,724 Shares of Northrop Grumman Corporation $NOC

Key Points

• Acadian Asset Management LLC significantly increased its holdings in Northrop Grumman by acquiring 60,724 shares, raising its position by 952.2% during the 1st quarter, with the total worth reaching approximately $34.35 million.
• Several other hedge funds have also adjusted their stakes in Northrop Grumman, with 83.40% of the stock currently held by institutional investors, indicating strong institutional interest in the company.
• Northrop Grumman recently announced a quarterly dividend of $2.31 per share, which will be paid on September 17th, reflecting a 1.6% dividend yield.

Acadian Asset Management LLC raised its position in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 952.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,101 shares of the aerospace company's stock after buying an additional 60,724 shares during the quarter. Acadian Asset Management LLC's holdings in Northrop Grumman were worth $34,350,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Geneos Wealth Management Inc. raised its stake in shares of Northrop Grumman by 12.3% in the first quarter. Geneos Wealth Management Inc. now owns 2,301 shares of the aerospace company's stock valued at $1,178,000 after buying an additional 252 shares during the period. IFM Investors Pty Ltd raised its stake in shares of Northrop Grumman by 1.8% during the 1st quarter. IFM Investors Pty Ltd now owns 11,066 shares of the aerospace company's stock valued at $5,666,000 after purchasing an additional 199 shares during the period. Focus Partners Wealth lifted its holdings in Northrop Grumman by 9.9% during the 1st quarter. Focus Partners Wealth now owns 84,387 shares of the aerospace company's stock worth $43,208,000 after purchasing an additional 7,605 shares in the last quarter. Flaharty Asset Management LLC bought a new position in Northrop Grumman in the 1st quarter worth about $36,000. Finally, Integrity Alliance LLC. grew its holdings in Northrop Grumman by 659.3% during the 1st quarter. Integrity Alliance LLC. now owns 3,956 shares of the aerospace company's stock valued at $2,025,000 after buying an additional 3,435 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on NOC. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Northrop Grumman in a report on Monday, July 14th. Susquehanna lifted their target price on Northrop Grumman from $557.00 to $650.00 and gave the company a "positive" rating in a report on Tuesday, July 22nd. Wall Street Zen raised Northrop Grumman from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Northrop Grumman in a report on Tuesday, July 22nd. Finally, Royal Bank Of Canada lifted their target price on Northrop Grumman from $600.00 to $625.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Northrop Grumman presently has a consensus rating of "Moderate Buy" and a consensus target price of $588.85.

Insider Activity

In other news, VP Robert J. Fleming sold 3,500 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $505.77, for a total transaction of $1,770,195.00. Following the transaction, the vice president directly owned 1,827 shares in the company, valued at approximately $924,041.79. This represents a 65.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas H. Jones sold 729 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $505.77, for a total value of $368,706.33. Following the transaction, the vice president owned 7,552 shares in the company, valued at $3,819,575.04. This trade represents a 8.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,762 shares of company stock worth $5,948,896. 0.23% of the stock is currently owned by insiders.

Northrop Grumman Stock Performance

Shares of NOC opened at $579.48 on Thursday. The company has a market cap of $82.97 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 5.47 and a beta of 0.13. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The stock has a 50-day moving average price of $564.40 and a 200-day moving average price of $516.02. Northrop Grumman Corporation has a 12-month low of $426.24 and a 12-month high of $600.99.

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

Northrop Grumman Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.6%. Northrop Grumman's dividend payout ratio is 34.06%.

Northrop Grumman Profile

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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