Northrop Grumman Corporation $NOC Shares Bought by Ally Financial Inc.

Key Points

• Ally Financial Inc. has increased its holdings in Northrop Grumman Corporation by 50%, purchasing an additional 1,000 shares, bringing its total to 3,000 shares valued at approximately $1.54 million.
• Northrop Grumman reported a quarterly earnings per share of $7.11, exceeding expectations and showing year-over-year revenue growth of 1.3%, with total revenue of $10.35 billion.
• The company recently announced a quarterly dividend of $2.31 per share, reflecting a yield of 1.6%, with a payout ratio of 34.06%.

Ally Financial Inc. grew its holdings in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 50.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,000 shares of the aerospace company's stock after buying an additional 1,000 shares during the quarter. Ally Financial Inc.'s holdings in Northrop Grumman were worth $1,536,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Redhawk Wealth Advisors Inc. raised its position in shares of Northrop Grumman by 3.0% during the 1st quarter. Redhawk Wealth Advisors Inc. now owns 644 shares of the aerospace company's stock valued at $330,000 after acquiring an additional 19 shares during the last quarter. Salvus Wealth Management LLC raised its holdings in Northrop Grumman by 1.5% in the 1st quarter. Salvus Wealth Management LLC now owns 1,349 shares of the aerospace company's stock valued at $691,000 after acquiring an additional 20 shares during the period. IAG Wealth Partners LLC grew its position in shares of Northrop Grumman by 8.4% during the 1st quarter. IAG Wealth Partners LLC now owns 271 shares of the aerospace company's stock worth $139,000 after purchasing an additional 21 shares in the last quarter. Integrated Investment Consultants LLC boosted its position in shares of Northrop Grumman by 3.9% during the 1st quarter. Integrated Investment Consultants LLC now owns 553 shares of the aerospace company's stock worth $283,000 after acquiring an additional 21 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG boosted its position in Northrop Grumman by 2.2% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company's stock valued at $472,000 after buying an additional 22 shares in the last quarter. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Northrop Grumman news, CEO Kathy J. Warden sold 7,500 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $505.77, for a total value of $3,793,275.00. Following the completion of the sale, the chief executive officer owned 201,602 shares in the company, valued at approximately $101,964,243.54. The trade was a 3.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Roshan S. Roeder sold 991 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $490.00, for a total value of $485,590.00. Following the transaction, the vice president directly owned 319 shares in the company, valued at $156,310. This represents a 75.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,536 shares of company stock worth $8,306,857 in the last three months. 0.23% of the stock is owned by company insiders.

Northrop Grumman Stock Down 1.1%

Shares of NOC traded down $6.56 during mid-day trading on Wednesday, hitting $586.46. 679,263 shares of the company traded hands, compared to its average volume of 741,015. Northrop Grumman Corporation has a 1-year low of $426.24 and a 1-year 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 company has a market capitalization of $83.97 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 5.68 and a beta of 0.15. The business has a 50 day moving average of $545.04 and a 200 day moving average of $506.38.

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 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 the consensus estimate of $10.15 billion. Northrop Grumman had a net margin of 9.74% and a return on equity of 25.52%. Northrop Grumman's quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.36 EPS. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. Equities research analysts anticipate that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd will be given a $2.31 dividend. This represents a $9.24 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Northrop Grumman's payout ratio is currently 34.06%.

Analysts Set New Price Targets

Several research firms have weighed in on NOC. Susquehanna lifted their price target on shares of Northrop Grumman from $557.00 to $650.00 and gave the company a "positive" rating in a research note on Tuesday, July 22nd. Robert W. Baird upped their target price on shares of Northrop Grumman from $547.00 to $565.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Bank of America boosted their price target on shares of Northrop Grumman from $550.00 to $650.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada upped their price target on shares of Northrop Grumman from $600.00 to $625.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Finally, Barclays increased their price target on shares of Northrop Grumman from $500.00 to $580.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $588.85.

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.