Baird Financial Group Inc. Acquires 3,182 Shares of Northrop Grumman Corporation $NOC

Key Points

• Baird Financial Group Inc. increased its holdings in Northrop Grumman Corporation by 16.5%, acquiring an additional 3,182 shares in the first quarter, raising their total ownership to 22,436 shares valued at $11.49 million.
• Several analysts have raised their price targets for Northrop Grumman, with Bank of America increasing it from $550 to $650, while the company's consensus rating is currently a "Moderate Buy".
• Northrop Grumman recently declared a quarterly dividend of $2.31 per share, with a payout ratio of 34.06% and an annualized dividend yield of 1.6%.

Baird Financial Group Inc. boosted its holdings in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 16.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,436 shares of the aerospace company's stock after buying an additional 3,182 shares during the period. Baird Financial Group Inc.'s holdings in Northrop Grumman were worth $11,488,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. IMA Advisory Services Inc. bought a new stake in Northrop Grumman during the first quarter valued at $27,000. Banque Cantonale Vaudoise bought a new stake in Northrop Grumman during the first quarter valued at $30,000. Wood Tarver Financial Group LLC bought a new stake in Northrop Grumman during the fourth quarter valued at $32,000. Hollencrest Capital Management boosted its stake in Northrop Grumman by 790.0% during the first quarter. Hollencrest Capital Management now owns 89 shares of the aerospace company's stock valued at $45,000 after buying an additional 79 shares during the period. Finally, HWG Holdings LP bought a new stake in Northrop Grumman during the first quarter worth about $46,000. Institutional investors own 83.40% of the company's stock.

Insider Activity at Northrop Grumman

In related news, VP Robert J. Fleming sold 3,500 shares of the business's stock in a transaction dated 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 transaction, the vice president owned 1,827 shares in the company, valued at $924,041.79. The trade was a 65.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kathy J. Warden sold 7,500 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $505.77, for a total value of $3,793,275.00. Following the transaction, the chief executive officer owned 201,602 shares in the company, valued at approximately $101,964,243.54. This represents a 3.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,545 shares of company stock worth $7,821,267 in the last 90 days. Company insiders own 0.23% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on NOC. Robert W. Baird lifted their price target on Northrop Grumman from $547.00 to $565.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Susquehanna lifted their price target on Northrop Grumman from $557.00 to $650.00 and gave the stock a "positive" rating in a research note on Tuesday, July 22nd. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Northrop Grumman in a research note on Monday, July 14th. Bank of America lifted their price target on Northrop Grumman from $550.00 to $650.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada lifted their price target on Northrop Grumman from $600.00 to $625.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, Northrop Grumman currently has a consensus rating of "Moderate Buy" and an average target price of $588.85.

Northrop Grumman Trading Down 0.2%

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

Northrop Grumman (NYSE:NOC - Get Free Report) last released its earnings results 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. Northrop Grumman had a return on equity of 25.52% and a net margin of 9.74%.The company had revenue of $10.35 billion during the quarter, compared to analyst estimates of $10.15 billion. During the same quarter in the previous year, the company posted $6.36 EPS. Northrop Grumman'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. As a group, sell-side analysts forecast that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Tuesday, September 2nd will be issued a dividend of $2.31 per share. 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 payout ratio is currently 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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