Bank of Hawaii Takes $538,000 Position in Northrop Grumman Corporation $NOC

Key Points

• Bank of Hawaii acquired a new stake in Northrop Grumman Corporation, investing approximately $538,000 for 1,050 shares during the first quarter.
• Northrop Grumman reported $7.11 per share in earnings, surpassing analyst expectations, with a quarterly revenue of $10.35 billion, marking a 1.3% year-over-year increase.
• The company will pay a quarterly dividend of $2.31 on September 17th, representing a 1.6% yield based on an annualized payout of $9.24.

Bank of Hawaii acquired a new stake in Northrop Grumman Corporation (NYSE:NOC - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,050 shares of the aerospace company's stock, valued at approximately $538,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. IMA Advisory Services Inc. purchased a new position in Northrop Grumman during the first quarter worth about $27,000. Banque Cantonale Vaudoise purchased a new position in Northrop Grumman during the first quarter worth about $30,000. Wood Tarver Financial Group LLC purchased a new position in Northrop Grumman during the fourth quarter worth about $32,000. Bellwether Advisors LLC purchased a new position in Northrop Grumman during the fourth quarter worth about $33,000. Finally, Hollencrest Capital Management lifted its position in Northrop Grumman by 790.0% during the first quarter. Hollencrest Capital Management now owns 89 shares of the aerospace company's stock worth $45,000 after buying an additional 79 shares during the period. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Stock Performance

NYSE:NOC opened at $586.6550 on Tuesday. 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 Corporation has a twelve month low of $426.24 and a twelve month high of $600.99. The firm has a market capitalization of $84.00 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 5.67 and a beta of 0.15. The firm's fifty day simple moving average is $543.26 and its 200 day simple moving average is $505.78.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share (EPS) 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 business had revenue of $10.35 billion during the quarter, compared to analyst estimates of $10.15 billion. During the same quarter last year, the firm earned $6.36 earnings per share. The company's revenue for the quarter was up 1.3% compared to the same quarter last year. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. As a group, equities research analysts expect that Northrop Grumman Corporation will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $9.24 annualized dividend and a yield of 1.6%. Northrop Grumman's dividend payout ratio (DPR) is 34.06%.

Insider Activity

In other Northrop Grumman 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 sale, the vice president owned 7,552 shares of the company's stock, valued at $3,819,575.04. This trade represents a 8.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert J. Fleming sold 3,500 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 transaction of $1,770,195.00. Following the completion of the sale, the vice president directly owned 1,827 shares of the company's stock, valued at $924,041.79. This trade represents a 65.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,536 shares of company stock worth $8,306,857 over the last three months. Insiders own 0.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price on Northrop Grumman from $480.00 to $585.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Robert W. Baird increased their target price on Northrop Grumman from $547.00 to $565.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Sanford C. Bernstein reiterated a "market perform" rating on shares of Northrop Grumman in a research report on Monday, July 14th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $542.00 target price (down from $580.00) on shares of Northrop Grumman in a research report on Tuesday, July 8th. Finally, Bank of America increased their target price on Northrop Grumman from $550.00 to $650.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $586.79.

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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