Bleakley Financial Group LLC Acquires Shares of 12,575 Northrop Grumman Corporation $NOC

Key Points

• Bleakley Financial Group LLC acquired 12,575 shares of Northrop Grumman, valued at approximately $6.29 million, highlighting ongoing interest in the aerospace sector.
• Northrop Grumman reported earnings of $7.67 per share for the last quarter, exceeding analysts’ expectations by $1.24, and showed a revenue increase of 4.3% year-over-year.
• Multiple analysts have raised their price targets for Northrop Grumman, with recommendations indicating a consensus rating of "Moderate Buy" and an average price target of $642.73.

Bleakley Financial Group LLC bought a new stake in Northrop Grumman Corporation (NYSE:NOC - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 12,575 shares of the aerospace company's stock, valued at approximately $6,287,000.

A number of other institutional investors have also modified their holdings of NOC. Brookstone Capital Management grew its position in Northrop Grumman by 121.0% in the 1st quarter. Brookstone Capital Management now owns 6,640 shares of the aerospace company's stock valued at $3,400,000 after buying an additional 3,635 shares during the last quarter. First United Bank & Trust lifted its stake in shares of Northrop Grumman by 641.0% in the 2nd quarter. First United Bank & Trust now owns 778 shares of the aerospace company's stock worth $389,000 after acquiring an additional 673 shares during the period. Golden State Wealth Management LLC boosted its holdings in shares of Northrop Grumman by 206.2% in the first quarter. Golden State Wealth Management LLC now owns 2,771 shares of the aerospace company's stock valued at $1,421,000 after acquiring an additional 1,866 shares in the last quarter. Fortem Financial Group LLC increased its stake in shares of Northrop Grumman by 118.2% during the first quarter. Fortem Financial Group LLC now owns 1,104 shares of the aerospace company's stock worth $565,000 after acquiring an additional 598 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Northrop Grumman by 12.2% during the first quarter. Goldman Sachs Group Inc. now owns 792,707 shares of the aerospace company's stock worth $405,874,000 after purchasing an additional 86,215 shares in the last quarter. Institutional investors and hedge funds own 83.40% of the company's stock.

Northrop Grumman Trading Up 1.5%

Shares of NOC stock opened at $605.17 on Friday. The stock has a market cap of $86.65 billion, a P/E ratio of 21.77, a P/E/G ratio of 5.63 and a beta of 0.10. The company has a quick ratio of 0.93, a current ratio of 1.11 and a debt-to-equity ratio of 0.95. Northrop Grumman Corporation has a fifty-two week low of $426.24 and a fifty-two week high of $640.90. The business has a fifty day simple moving average of $593.98 and a 200-day simple moving average of $539.83.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its earnings results on Tuesday, October 21st. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.43 by $1.24. The company had revenue of $10.42 billion during the quarter, compared to analysts' expectations of $10.68 billion. Northrop Grumman had a net margin of 9.82% and a return on equity of 25.49%. The firm's quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $7.00 earnings per share. Northrop Grumman has set its FY 2025 guidance at 25.650-26.050 EPS. On average, analysts forecast that Northrop Grumman Corporation will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $2.31 per share. This represents a $9.24 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Tuesday, September 2nd. Northrop Grumman's dividend payout ratio is 33.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Northrop Grumman from $575.00 to $640.00 and gave the company a "neutral" rating in a report on Wednesday. Sanford C. Bernstein set a $696.00 price target on Northrop Grumman in a research note on Thursday. Truist Financial increased their price objective on Northrop Grumman from $625.00 to $688.00 and gave the stock a "buy" rating in a research report on Wednesday, October 15th. UBS Group boosted their target price on shares of Northrop Grumman to $770.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Wall Street Zen raised shares of Northrop Grumman from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Northrop Grumman presently has a consensus rating of "Moderate Buy" and a consensus target price of $642.73.

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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