Atalanta Sosnoff Capital LLC Raises Holdings in Northrop Grumman Corporation $NOC

Key Points

• Atalanta Sosnoff Capital LLC increased its holdings in Northrop Grumman by an astonishing 1,951.3%, acquiring a total of 18,257 shares valued at approximately $9.35 million.
• Insider trading activity includes VP Thomas H. Jones selling 729 shares and VP Robert J. Fleming selling 3,500 shares, reflecting significant decreases in their respective holdings.
• Northrop Grumman recently reported $7.11 EPS for the last quarter, surpassing expectations, and set its FY 2025 guidance between $25.000-25.400 EPS.

Atalanta Sosnoff Capital LLC grew its position in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 1,951.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,257 shares of the aerospace company's stock after purchasing an additional 17,367 shares during the quarter. Atalanta Sosnoff Capital LLC's holdings in Northrop Grumman were worth $9,348,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in NOC. Amundi boosted its stake in shares of Northrop Grumman by 14.5% during the first quarter. Amundi now owns 72,257 shares of the aerospace company's stock worth $37,225,000 after buying an additional 9,168 shares during the period. Aprio Wealth Management LLC acquired a new stake in Northrop Grumman in the first quarter valued at about $228,000. Federation des caisses Desjardins du Quebec lifted its position in Northrop Grumman by 6.9% in the first quarter. Federation des caisses Desjardins du Quebec now owns 6,188 shares of the aerospace company's stock valued at $3,168,000 after purchasing an additional 398 shares during the period. Chiron Capital Management LLC acquired a new stake in Northrop Grumman in the first quarter valued at about $717,000. Finally, EP Wealth Advisors LLC lifted its position in Northrop Grumman by 17.7% in the first quarter. EP Wealth Advisors LLC now owns 22,774 shares of the aerospace company's stock valued at $11,660,000 after purchasing an additional 3,429 shares during the period. Hedge funds and other institutional investors own 83.40% of the company's stock.

Insiders Place Their Bets

In other Northrop Grumman news, VP Thomas H. Jones sold 729 shares of the business's stock in a transaction 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 transaction, the vice president owned 7,552 shares in the company, valued at $3,819,575.04. The trade was a 8.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Robert J. Fleming sold 3,500 shares of the business's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $505.77, for a total transaction of $1,770,195.00. Following the completion of the transaction, the vice president owned 1,827 shares in the company, valued at $924,041.79. This represents a 65.70% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 15,545 shares of company stock valued at $7,821,267. Company insiders own 0.23% of the company's stock.

Northrop Grumman Trading Down 0.2%

Shares of NOC opened at $589.06 on Wednesday. The stock has a market cap of $84.34 billion, a price-to-earnings ratio of 21.71, a price-to-earnings-growth ratio of 5.65 and a beta of 0.13. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. Northrop Grumman Corporation has a 1-year low of $426.24 and a 1-year high of $600.99. The firm has a 50 day simple moving average of $554.51 and a 200-day simple moving average of $510.77.

Northrop Grumman (NYSE:NOC - Get Free Report) last released 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 firm had revenue of $10.35 billion during the quarter, compared to analysts' expectations of $10.15 billion. Northrop Grumman had a net margin of 9.74% and a return on equity of 25.52%. Northrop Grumman's revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the previous year, the company earned $6.36 EPS. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. Equities analysts forecast that Northrop Grumman Corporation will post 28.05 EPS for the current fiscal 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 paid 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 presently 34.06%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NOC shares. Barclays raised their price objective on shares of Northrop Grumman from $500.00 to $580.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. JPMorgan Chase & Co. raised their price objective on shares of Northrop Grumman from $480.00 to $585.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Sanford C. Bernstein restated a "market perform" rating on shares of Northrop Grumman in a research report on Monday, July 14th. Royal Bank Of Canada lifted their price target on shares of Northrop Grumman from $600.00 to $625.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Finally, Truist Financial reiterated a "buy" rating and set a $625.00 price target (up from $550.00) on shares of Northrop Grumman in a research report on Wednesday, July 23rd. One research 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 company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $588.85.

About Northrop Grumman

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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