Adage Capital Partners GP L.L.C. Sells 138,807 Shares of Northrop Grumman Corporation $NOC

Key Points

• Adage Capital Partners GP L.L.C. sold 138,807 shares of Northrop Grumman, reducing its stake by 84.1% to a total of 26,275 shares valued at approximately $13.45 million.
• Institutional ownership of Northrop Grumman stands at 83.40%, with several major investors like Vanguard Group and Wellington Management increasing their stakes in the company during the same period.
• Northrop Grumman's recent earnings report showed a 7.11 EPS, exceeding expectations, and the company announced a quarterly dividend of $2.31 per share.

Adage Capital Partners GP L.L.C. cut its position in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 84.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,275 shares of the aerospace company's stock after selling 138,807 shares during the period. Adage Capital Partners GP L.L.C.'s holdings in Northrop Grumman were worth $13,453,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Northrop Grumman by 4.6% in the first quarter. Vanguard Group Inc. now owns 13,266,301 shares of the aerospace company's stock valued at $6,792,479,000 after purchasing an additional 588,520 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Northrop Grumman by 23.4% in the first quarter. Wellington Management Group LLP now owns 5,139,333 shares of the aerospace company's stock valued at $2,631,390,000 after purchasing an additional 974,633 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Northrop Grumman by 10.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,241,144 shares of the aerospace company's stock valued at $1,147,489,000 after purchasing an additional 210,500 shares in the last quarter. Invesco Ltd. raised its stake in shares of Northrop Grumman by 12.1% in the first quarter. Invesco Ltd. now owns 1,944,186 shares of the aerospace company's stock valued at $995,443,000 after purchasing an additional 210,506 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Northrop Grumman by 55,522.3% in the first quarter. GAMMA Investing LLC now owns 1,520,158 shares of the aerospace company's stock valued at $778,336,000 after purchasing an additional 1,517,425 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NOC has been the subject of a number of recent research reports. Susquehanna upped their target price 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 issued a $625.00 price target (up from $550.00) on shares of Northrop Grumman in a research report on Wednesday, July 23rd. Barclays upped their price target on Northrop Grumman from $500.00 to $580.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Wall Street Zen upgraded Northrop Grumman from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Wells Fargo & Company reiterated an "overweight" rating on shares of Northrop Grumman in a research report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $588.85.

Insider Transactions at Northrop Grumman

In other news, CEO Kathy J. Warden sold 7,500 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $505.77, for a total transaction of $3,793,275.00. Following the sale, the chief executive officer owned 201,602 shares in the company, valued at approximately $101,964,243.54. This represents a 3.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robert J. Fleming sold 3,500 shares of the stock in a transaction on 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 sale, the vice president owned 1,827 shares in the company, valued at $924,041.79. The trade was a 65.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,512 shares of company stock worth $7,805,146. Insiders own 0.23% of the company's stock.

Northrop Grumman Price Performance

Shares of NOC stock opened at $580.56 on Friday. The stock's fifty day moving average is $559.81 and its 200-day moving average is $513.18. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The stock has a market capitalization of $83.13 billion, a PE ratio of 21.40, a PEG ratio of 5.55 and a beta of 0.13. Northrop Grumman Corporation has a 52 week low of $426.24 and a 52 week high of $600.99.

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

Northrop Grumman Dividend Announcement

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 issued a dividend of $2.31 per share. This represents a $9.24 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. Northrop Grumman's dividend payout ratio is presently 34.06%.

Northrop Grumman Company 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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