Bank of New York Mellon Corp Has $656.98 Million Holdings in Northrop Grumman Corporation $NOC

Key Points

• Bank of New York Mellon increased its Northrop Grumman stake by 9.6% in the fourth quarter, ending with 1,152,165 shares valued at about $656.98 million.
• Northrop Grumman’s latest earnings beat expectations, with EPS of $6.14 versus $6.06 expected and revenue of $9.88 billion, up 4.4% year over year.
• The company also raised its quarterly dividend to $2.47 per share, bringing the annualized payout to $9.88 and a yield of about 1.9%.

Bank of New York Mellon Corp boosted its stake in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 9.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,152,165 shares of the aerospace company's stock after purchasing an additional 100,939 shares during the quarter. Bank of New York Mellon Corp owned about 0.81% of Northrop Grumman worth $656,976,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Calton & Associates Inc. acquired a new position in Northrop Grumman during the fourth quarter worth about $200,000. Natixis Advisors LLC raised its stake in Northrop Grumman by 2.4% during the fourth quarter. Natixis Advisors LLC now owns 84,397 shares of the aerospace company's stock worth $48,124,000 after acquiring an additional 1,940 shares in the last quarter. Fielder Capital Group LLC raised its stake in Northrop Grumman by 21.8% during the fourth quarter. Fielder Capital Group LLC now owns 1,028 shares of the aerospace company's stock worth $586,000 after acquiring an additional 184 shares in the last quarter. Root Financial Partners LLC raised its stake in Northrop Grumman by 14.6% during the fourth quarter. Root Financial Partners LLC now owns 354 shares of the aerospace company's stock worth $202,000 after acquiring an additional 45 shares in the last quarter. Finally, a16z Perennial Management L.P. raised its stake in Northrop Grumman by 12.0% during the fourth quarter. a16z Perennial Management L.P. now owns 440 shares of the aerospace company's stock worth $251,000 after acquiring an additional 47 shares in the last quarter. Institutional investors and hedge funds own 83.40% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Citigroup lowered their target price on Northrop Grumman from $742.00 to $628.00 and set a "buy" rating for the company in a research note on Monday, May 18th. Jefferies Financial Group reduced their price target on Northrop Grumman from $660.00 to $620.00 and set a "buy" rating on the stock in a report on Tuesday, May 26th. Wells Fargo & Company started coverage on Northrop Grumman in a report on Wednesday, April 1st. They set an "overweight" rating and a $800.00 price target on the stock. UBS Group reduced their price target on Northrop Grumman from $806.00 to $745.00 and set a "buy" rating on the stock in a report on Thursday, April 23rd. Finally, Wall Street Zen cut Northrop Grumman from a "strong-buy" rating to a "hold" rating in a report on Saturday, April 25th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Northrop Grumman currently has a consensus rating of "Moderate Buy" and a consensus price target of $702.63.

Northrop Grumman Stock Performance

NYSE:NOC opened at $527.19 on Thursday. The stock has a market cap of $74.88 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 3.66 and a beta of -0.12. The company has a current ratio of 1.15, a quick ratio of 1.04 and a debt-to-equity ratio of 0.84. The stock's 50-day moving average is $609.30 and its 200-day moving average is $631.77. Northrop Grumman Corporation has a 1-year low of $472.02 and a 1-year high of $774.00.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its quarterly earnings results on Tuesday, April 21st. The aerospace company reported $6.14 earnings per share for the quarter, topping the consensus estimate of $6.06 by $0.08. The company had revenue of $9.88 billion for the quarter, compared to analysts' expectations of $9.75 billion. Northrop Grumman had a return on equity of 24.72% and a net margin of 10.80%.The business's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business posted $6.06 earnings per share. Northrop Grumman has set its FY 2026 guidance at 27.400-27.900 EPS. Equities research analysts anticipate that Northrop Grumman Corporation will post 27.93 earnings per share for the current year.

Northrop Grumman Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Monday, June 1st will be issued a $2.47 dividend. The ex-dividend date is Monday, June 1st. This is a boost from Northrop Grumman's previous quarterly dividend of $2.31. This represents a $9.88 annualized dividend and a yield of 1.9%. Northrop Grumman's dividend payout ratio (DPR) is currently 30.92%.

Northrop Grumman Profile

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.

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