Bank of New York Mellon Corp acquired a new stake in Northrop Grumman Corporation (NYSE:NOC - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 738,519 shares of the aerospace company's stock, valued at approximately $376,135,000. Bank of New York Mellon Corp owned about 0.52% of Northrop Grumman at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of NOC. Pictet Asset Management Holding SA boosted its holdings in shares of Northrop Grumman by 7.0% in the first quarter. Pictet Asset Management Holding SA now owns 61,436 shares of the aerospace company's stock valued at $41,914,000 after buying an additional 4,041 shares during the period. Vanguard Group Inc. boosted its position in Northrop Grumman by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 13,740,721 shares of the aerospace company's stock valued at $7,835,097,000 after purchasing an additional 209,135 shares during the last quarter. New York State Teachers Retirement System grew its stake in Northrop Grumman by 9.7% in the fourth quarter. New York State Teachers Retirement System now owns 111,927 shares of the aerospace company's stock valued at $63,822,000 after purchasing an additional 9,924 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Northrop Grumman by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 3,149,478 shares of the aerospace company's stock worth $1,793,478,000 after purchasing an additional 17,948 shares during the last quarter. Finally, World Investment Advisors grew its position in shares of Northrop Grumman by 70.1% in the 4th quarter. World Investment Advisors now owns 4,497 shares of the aerospace company's stock valued at $2,564,000 after acquiring an additional 1,853 shares during the period. 83.40% of the stock is currently owned by institutional investors and hedge funds.
Northrop Grumman Stock Performance
Northrop Grumman stock opened at $552.29 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The stock has a market cap of $78.44 billion, a PE ratio of 17.54, a P/E/G ratio of 3.65 and a beta of -0.11. Northrop Grumman Corporation has a 12-month low of $479.02 and a 12-month high of $774.00. The business's 50-day moving average price is $541.45 and its two-hundred day moving average price is $610.05.
Northrop Grumman (NYSE:NOC - Get Free Report) last posted its earnings results on Tuesday, July 21st. The aerospace company reported $7.68 EPS for the quarter, topping analysts' consensus estimates of $6.82 by $0.86. Northrop Grumman had a net margin of 10.48% and a return on equity of 24.25%. The firm had revenue of $10.88 billion during the quarter, compared to analysts' expectations of $10.80 billion. During the same quarter in the prior year, the business earned $8.15 earnings per share. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. Northrop Grumman has set its FY 2026 guidance at 28.600-29.100 EPS. As a group, analysts expect that Northrop Grumman Corporation will post 28.97 earnings per share for the current fiscal year.
Northrop Grumman Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Monday, August 31st will be given a dividend of $2.47 per share. The ex-dividend date is Monday, August 31st. This represents a $9.88 dividend on an annualized basis and a yield of 1.8%. Northrop Grumman's payout ratio is currently 31.39%.
Insiders Place Their Bets
In other Northrop Grumman news, Director Mark A. Welsh III sold 95 shares of the company's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $547.53, for a total value of $52,015.35. Following the completion of the transaction, the director owned 4,393 shares of the company's stock, valued at $2,405,299.29. This represents a 2.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.21% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on NOC shares. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $653.00 target price on shares of Northrop Grumman in a report on Wednesday, August 5th. TD Cowen lifted their price target on Northrop Grumman from $550.00 to $590.00 and gave the stock a "hold" rating in a report on Wednesday. Citigroup raised their price target on Northrop Grumman from $617.00 to $667.00 and gave the company a "buy" rating in a report on Thursday, August 13th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $620.00 price objective on shares of Northrop Grumman in a research report on Wednesday, July 8th. Finally, Morgan Stanley set a $745.00 price objective on shares of Northrop Grumman in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $661.30.
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About Northrop Grumman
(
Free Report)
Northrop Grumman Corporation NYSE: NOC is a leading U.S.-based aerospace and defense company that designs, builds and sustains advanced systems, products and technologies for government and commercial customers. Formed through the combination of Northrop and Grumman businesses in the 1990s, the company's portfolio spans manned and unmanned aircraft, space systems, missile defense, radar and sensor systems, and integrated command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) solutions.
The company's work includes airframe and platform manufacturing, space hardware and satellite systems, advanced mission systems and cybersecurity services, as well as logistics, sustainment and modernization programs.
See Also
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