Ashton Thomas Private Wealth LLC Takes $966,000 Position in Northrop Grumman Corporation $NOC

Key Points

• Ashton Thomas Private Wealth LLC has acquired a new position in Northrop Grumman Corporation worth approximately $966,000 during the first quarter, purchasing 1,887 shares.
• Northrop Grumman reported earnings per share of $7.11 for the last quarter, exceeding expectations and indicating a revenue increase to $10.35 billion.
• The company has declared a quarterly dividend of $2.31 per share, with an annualized yield of 1.6%, to be paid on September 17th.

Ashton Thomas Private Wealth LLC purchased a new position in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,887 shares of the aerospace company's stock, valued at approximately $966,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. IMA Advisory Services Inc. acquired a new stake in Northrop Grumman during the first quarter valued at approximately $27,000. Saudi Central Bank acquired a new stake in shares of Northrop Grumman during the 1st quarter valued at approximately $28,000. Banque Cantonale Vaudoise acquired a new stake in shares of Northrop Grumman during the 1st quarter valued at approximately $30,000. Wood Tarver Financial Group LLC bought a new position in Northrop Grumman during the fourth quarter worth $32,000. Finally, Hollencrest Capital Management boosted its holdings in Northrop Grumman by 790.0% in the first quarter. Hollencrest Capital Management now owns 89 shares of the aerospace company's stock worth $45,000 after purchasing an additional 79 shares during the period. 83.40% of the stock is owned by institutional investors.

Northrop Grumman Stock Performance

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

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

Northrop Grumman Announces Dividend

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

Analyst Ratings Changes

A number of analysts have weighed in on NOC shares. Truist Financial reissued a "buy" rating and set a $625.00 target price (up from $550.00) on shares of Northrop Grumman in a report on Wednesday, July 23rd. Bank of America raised their target price on shares of Northrop Grumman from $550.00 to $650.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their target price on Northrop Grumman from $480.00 to $585.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company reiterated an "overweight" rating on shares of Northrop Grumman in a research report on Tuesday, July 22nd. Finally, Barclays raised their price target on Northrop Grumman from $500.00 to $580.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Northrop Grumman presently has an average rating of "Moderate Buy" and an average target price of $588.85.

Insider Buying and Selling at Northrop Grumman

In other news, VP Thomas H. Jones sold 729 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $505.77, for a total value of $368,706.33. Following the completion of the transaction, the vice president directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Robert J. Fleming sold 3,500 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 $1,770,195.00. Following the sale, the vice president directly owned 1,827 shares in the company, valued at approximately $924,041.79. The trade was a 65.70% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,762 shares of company stock valued at $5,948,896. Company insiders own 0.23% of the company's stock.

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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