Concentric Capital Strategies LP Takes $1.25 Million Position in Northrop Grumman Corporation $NOC

Key Points

• Concentric Capital Strategies LP acquired a new stake in Northrop Grumman Corporation, purchasing 2,442 shares valued at approximately $1.25 million during the first quarter.
• Northrop Grumman's stock has recently seen a 1.4% decrease and currently trades at $580.89, with a market capitalization of $83.17 billion.
• The company reported $7.11 EPS for the last quarter, surpassing analysts' expectations, and declared a quarterly dividend of $2.31 per share.

Concentric Capital Strategies LP bought a new stake in Northrop Grumman Corporation (NYSE:NOC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 2,442 shares of the aerospace company's stock, valued at approximately $1,250,000.

Other hedge funds have also recently bought and sold shares of the company. IMA Advisory Services Inc. bought a new stake in shares of Northrop Grumman during the 1st quarter valued at approximately $27,000. Saudi Central Bank bought a new stake in shares of Northrop Grumman during the 1st quarter valued at approximately $28,000. Banque Cantonale Vaudoise bought a new stake in shares of Northrop Grumman during the 1st quarter valued at approximately $30,000. Wood Tarver Financial Group LLC bought a new stake in shares of Northrop Grumman during the 4th quarter valued at approximately $32,000. Finally, Hollencrest Capital Management grew its holdings in shares of Northrop Grumman by 790.0% during the 1st quarter. Hollencrest Capital Management now owns 89 shares of the aerospace company's stock valued at $45,000 after purchasing an additional 79 shares during the last quarter. 83.40% of the stock is owned by institutional investors.

Northrop Grumman Stock Up 0.1%

Shares of Northrop Grumman stock traded up $0.71 during trading on Monday, reaching $581.51. 795,243 shares of the company traded hands, compared to its average volume of 966,750. 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 Corporation has a 1-year low of $426.24 and a 1-year high of $600.99. The company has a 50 day moving average price of $559.81 and a 200-day moving average price of $514.26. The firm has a market capitalization of $83.26 billion, a PE ratio of 21.43, a P/E/G ratio of 5.56 and a beta of 0.13.

Northrop Grumman (NYSE:NOC - Get Free Report) last released 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 net margin of 9.74% and a return on equity of 25.52%. The company had revenue of $10.35 billion for the quarter, compared to the consensus estimate of $10.15 billion. During the same quarter in the previous year, the company earned $6.36 EPS. Northrop Grumman's quarterly revenue 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 Dividend Announcement

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

Insiders Place Their Bets

In other Northrop Grumman news, VP Robert J. Fleming sold 3,500 shares of the company's stock in a transaction 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 transaction, the vice president owned 1,827 shares in the company, valued at approximately $924,041.79. This represents a 65.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Thomas H. Jones sold 729 shares of the company's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $505.77, for a total transaction of $368,706.33. Following the transaction, the vice president owned 7,552 shares in the company, valued at approximately $3,819,575.04. The trade was a 8.80% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,512 shares of company stock worth $7,805,146. Insiders own 0.23% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NOC shares. Royal Bank Of Canada boosted their target price on shares of Northrop Grumman from $600.00 to $625.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Truist Financial reissued a "buy" rating and set a $625.00 target price (up from $550.00) on shares of Northrop Grumman in a report on Wednesday, July 23rd. Barclays boosted their target price on shares of Northrop Grumman from $500.00 to $580.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Robert W. Baird boosted their target price on shares of Northrop Grumman from $547.00 to $565.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $542.00 target price (down from $580.00) on shares of Northrop Grumman in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $588.85.

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.