Apollon Wealth Management LLC Acquires 1,628 Shares of Northrop Grumman Corporation $NOC

Key Points

• Apollon Wealth Management LLC increased its holdings in Northrop Grumman by 26.8%, now owning a total of 7,706 shares worth approximately $3.85 million.
• Northrop Grumman reported earnings per share of $7.11 for the last quarter, surpassing analysts' expectations of $6.84, while also achieving a revenue of $10.35 billion.
• The company recently declared a quarterly dividend of $2.31, resulting in an annualized dividend yield of 1.5%.

Apollon Wealth Management LLC boosted its holdings in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 26.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,706 shares of the aerospace company's stock after purchasing an additional 1,628 shares during the period. Apollon Wealth Management LLC's holdings in Northrop Grumman were worth $3,853,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. JNBA Financial Advisors lifted its stake in Northrop Grumman by 82.9% during the second quarter. JNBA Financial Advisors now owns 128 shares of the aerospace company's stock worth $64,000 after purchasing an additional 58 shares during the last quarter. Drucker Wealth 3.0 LLC bought a new stake in Northrop Grumman during the second quarter worth $266,000. Aberdeen Group plc lifted its stake in Northrop Grumman by 1.8% during the second quarter. Aberdeen Group plc now owns 13,353 shares of the aerospace company's stock worth $6,676,000 after purchasing an additional 233 shares during the last quarter. Croban lifted its stake in Northrop Grumman by 1.3% during the second quarter. Croban now owns 2,195 shares of the aerospace company's stock worth $1,097,000 after purchasing an additional 29 shares during the last quarter. Finally, PDS Planning Inc lifted its stake in Northrop Grumman by 3.7% during the second quarter. PDS Planning Inc now owns 869 shares of the aerospace company's stock worth $434,000 after purchasing an additional 31 shares during the last quarter. 83.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on NOC. Wells Fargo & Company restated an "overweight" rating on shares of Northrop Grumman in a research note on Tuesday, July 22nd. Sanford C. Bernstein reiterated a "market perform" rating on shares of Northrop Grumman in a report on Monday, July 14th. Weiss Ratings reiterated a "buy (b)" rating on shares of Northrop Grumman in a report on Saturday, September 27th. Susquehanna upped their price target on shares of Northrop Grumman from $557.00 to $650.00 and gave the stock a "positive" rating in a report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Northrop Grumman from $480.00 to $585.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Northrop Grumman has a consensus rating of "Moderate Buy" and a consensus price target of $601.00.

Northrop Grumman Stock Performance

NYSE NOC opened at $623.51 on Friday. The company has a market capitalization of $89.28 billion, a price-to-earnings ratio of 22.98, a PEG ratio of 5.97 and a beta of 0.10. Northrop Grumman Corporation has a twelve month low of $426.24 and a twelve month high of $640.90. The stock has a fifty day simple moving average of $590.32 and a 200 day simple moving average of $533.84. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share for the quarter, beating analysts' consensus estimates of $6.84 by $0.27. The business 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%.Northrop Grumman's quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the business posted $6.36 earnings per share. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. Sell-side analysts expect that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Tuesday, September 2nd were issued a $2.31 dividend. This represents a $9.24 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Tuesday, September 2nd. Northrop Grumman's dividend payout ratio is presently 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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