Allstate Corp Acquires 5,239 Shares of Northrop Grumman Corporation $NOC

Key Points

• Allstate Corp more than doubled its stake in Northrop Grumman in the fourth quarter, buying 5,239 additional shares and bringing its total holdings to 10,206 shares worth about $5.82 million.
• Northrop Grumman’s recent earnings beat expectations, reporting $6.14 EPS on revenue of $9.88 billion, while also raising its quarterly dividend to $2.47 per share.
• Analysts remain generally constructive on the stock, with a Moderate Buy consensus and an average price target of $702.63, though some firms recently trimmed their targets or ratings.

Allstate Corp raised its holdings in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 105.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,206 shares of the aerospace company's stock after acquiring an additional 5,239 shares during the period. Allstate Corp's holdings in Northrop Grumman were worth $5,820,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Howard Financial Services LTD. grew its position in Northrop Grumman by 1.4% in the fourth quarter. Howard Financial Services LTD. now owns 1,143 shares of the aerospace company's stock valued at $651,000 after acquiring an additional 16 shares during the last quarter. Frank Rimerman Advisors LLC grew its position in Northrop Grumman by 0.8% in the fourth quarter. Frank Rimerman Advisors LLC now owns 1,973 shares of the aerospace company's stock valued at $1,125,000 after acquiring an additional 16 shares during the last quarter. Capital Advisors Ltd. LLC grew its position in Northrop Grumman by 0.4% in the fourth quarter. Capital Advisors Ltd. LLC now owns 4,012 shares of the aerospace company's stock valued at $2,288,000 after acquiring an additional 16 shares during the last quarter. Golden State Equity Partners grew its position in Northrop Grumman by 1.2% in the fourth quarter. Golden State Equity Partners now owns 1,337 shares of the aerospace company's stock valued at $762,000 after acquiring an additional 16 shares during the last quarter. Finally, Nilsine Partners LLC grew its position in Northrop Grumman by 0.4% in the fourth quarter. Nilsine Partners LLC now owns 4,253 shares of the aerospace company's stock valued at $2,425,000 after acquiring an additional 17 shares during the last quarter. Institutional investors own 83.40% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on NOC shares. Wall Street Zen cut Northrop Grumman from a "strong-buy" rating to a "hold" rating in a research report on Saturday, April 25th. Bank of America boosted their price target on Northrop Grumman from $685.00 to $750.00 and gave the stock a "buy" rating in a report on Wednesday, January 28th. Argus set a $785.00 price target on Northrop Grumman in a report on Tuesday, February 10th. BTIG Research restated a "buy" rating and set a $815.00 price target on shares of Northrop Grumman in a report on Wednesday, April 22nd. Finally, Jefferies Financial Group reduced their price target on Northrop Grumman from $660.00 to $620.00 and set a "buy" rating on the stock in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, Northrop Grumman currently has an average rating of "Moderate Buy" and an average target price of $702.63.

Northrop Grumman Stock Performance

Shares of NOC stock opened at $557.96 on Wednesday. The business's 50 day simple moving average is $629.49 and its 200 day simple moving average is $632.56. Northrop Grumman Corporation has a one year low of $468.50 and a one year high of $774.00. The stock has a market capitalization of $79.25 billion, a PE ratio of 17.46, a PEG ratio of 3.79 and a beta of -0.11. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.15 and a quick ratio of 1.04.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its earnings results on Tuesday, April 21st. The aerospace company reported $6.14 EPS for the quarter, beating the consensus estimate of $6.06 by $0.08. Northrop Grumman had a return on equity of 24.72% and a net margin of 10.80%.The business had revenue of $9.88 billion for the quarter, compared to analysts' expectations of $9.75 billion. During the same period in the prior year, the business posted $6.06 earnings per share. The firm's revenue was up 4.4% on a year-over-year basis. Northrop Grumman has set its FY 2026 guidance at 27.400-27.900 EPS. As a group, research analysts forecast that Northrop Grumman Corporation will post 27.93 earnings per share for the current year.

Northrop Grumman Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Monday, June 1st will be issued a $2.47 dividend. The ex-dividend date is Monday, June 1st. This is a boost from Northrop Grumman's previous quarterly dividend of $2.31. This represents a $9.88 annualized dividend and a yield of 1.8%. Northrop Grumman's dividend payout ratio (DPR) is currently 28.92%.

Northrop Grumman Profile

Northrop Grumman Corporation NYSE: NOC is a leading U.S.-based aerospace and defense company that designs, builds and sustains advanced systems, products and technologies for government and commercial customers. Formed through the combination of Northrop and Grumman businesses in the 1990s, the company's portfolio spans manned and unmanned aircraft, space systems, missile defense, radar and sensor systems, and integrated command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) solutions.

The company's work includes airframe and platform manufacturing, space hardware and satellite systems, advanced mission systems and cybersecurity services, as well as logistics, sustainment and modernization programs.

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