Cinctive Capital Management LP Buys Shares of 2,180 Northrop Grumman Corporation $NOC

Key Points

• Cinctive Capital Management LP has acquired a new stake of 2,180 shares in Northrop Grumman Corporation, valued at approximately $1,116,000.
• Insider transactions revealed that CEO Kathy J. Warden and VP Thomas H. Jones sold significant shares on June 13th, leading to a reduction in their holdings.
• Northrop Grumman is set to pay a quarterly dividend of $2.31 on September 17th, reflecting an annualized yield of 1.6% with a current payout ratio of 34.06%.

Cinctive Capital Management LP bought a new stake in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,180 shares of the aerospace company's stock, valued at approximately $1,116,000.

Several other institutional investors have also recently made changes to their positions in the stock. Concentric Capital Strategies LP purchased a new position in shares of Northrop Grumman in the first quarter valued at $1,250,000. Banque Transatlantique SA increased its position in shares of Northrop Grumman by 897.8% during the first quarter. Banque Transatlantique SA now owns 449 shares of the aerospace company's stock valued at $212,000 after buying an additional 404 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Northrop Grumman by 98.8% in the first quarter. AQR Capital Management LLC now owns 899,114 shares of the aerospace company's stock worth $460,355,000 after buying an additional 446,940 shares in the last quarter. Atalanta Sosnoff Capital LLC boosted its position in shares of Northrop Grumman by 1,951.3% in the first quarter. Atalanta Sosnoff Capital LLC now owns 18,257 shares of the aerospace company's stock valued at $9,348,000 after acquiring an additional 17,367 shares during the period. Finally, Amundi grew its stake in Northrop Grumman by 14.5% during the first quarter. Amundi now owns 72,257 shares of the aerospace company's stock valued at $37,225,000 after acquiring an additional 9,168 shares in the last quarter. Hedge funds and other institutional investors own 83.40% of the company's stock.

Insider Transactions at Northrop Grumman

In other Northrop Grumman news, CEO Kathy J. Warden sold 7,500 shares of the business's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $505.77, for a total value of $3,793,275.00. Following the sale, the chief executive officer directly owned 201,602 shares of the company's stock, valued at approximately $101,964,243.54. The trade was a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Robert J. Fleming sold 3,500 shares of the firm's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $505.77, for a total value of $1,770,195.00. Following the transaction, the vice president owned 1,827 shares of the company's stock, valued at $924,041.79. The trade was a 65.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,512 shares of company stock valued at $7,805,146 in the last ninety days. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Robert W. Baird increased their price objective on Northrop Grumman from $547.00 to $565.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Wall Street Zen upgraded Northrop Grumman from a "hold" rating to a "buy" rating in a research note on Friday. Royal Bank Of Canada lifted their price target on Northrop Grumman from $600.00 to $625.00 and gave the company an "outperform" rating in a research report 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. Finally, Wells Fargo & Company reissued an "overweight" rating on shares of Northrop Grumman in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $588.85.

Northrop Grumman Stock Down 1.8%

NOC stock traded down $10.27 during midday trading on Tuesday, hitting $571.63. The stock had a trading volume of 475,425 shares, compared to its average volume of 964,025. The firm has a market cap of $81.85 billion, a price-to-earnings ratio of 21.07, a price-to-earnings-growth ratio of 5.56 and a beta of 0.13. The business has a 50-day moving average of $561.43 and a two-hundred day moving average of $515.19. Northrop Grumman Corporation has a 52-week low of $426.24 and a 52-week high of $600.99. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 EPS for the quarter, beating analysts' consensus estimates of $6.84 by $0.27. The firm had revenue of $10.35 billion for the quarter, compared to analysts' expectations of $10.15 billion. Northrop Grumman had a net margin of 9.74% and a return on equity of 25.52%. The company's quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.36 EPS. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. As a group, equities research analysts forecast that Northrop Grumman Corporation will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $2.31 per share. This represents a $9.24 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 2nd. Northrop Grumman's dividend payout ratio (DPR) is presently 34.06%.

About Northrop Grumman

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.