Credit Agricole S A Grows Stake in Northrop Grumman Corporation $NOC

Key Points

• Credit Agricole S A increased its position in Northrop Grumman Corporation by 3.8%, acquiring an additional 1,286 shares, bringing its total holdings to 35,442 shares worth approximately $18.1 million.
• Other institutional investors also raised their stakes in Northrop Grumman, with significant increases from companies like Brookstone Capital Management (121% increase) and Golden State Wealth Management (206.2% increase).
• The company announced a quarterly dividend of $2.31 per share, reflecting a 1.6% yield, which will be paid to shareholders on September 17.

Credit Agricole S A grew its holdings in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 3.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 35,442 shares of the aerospace company's stock after acquiring an additional 1,286 shares during the quarter. Credit Agricole S A's holdings in Northrop Grumman were worth $18,147,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in shares of Northrop Grumman by 10.9% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 19,743 shares of the aerospace company's stock valued at $10,124,000 after acquiring an additional 1,933 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of Northrop Grumman in the 1st quarter valued at about $292,000. Wellington Management Group LLP boosted its position in shares of Northrop Grumman by 23.4% in the 1st quarter. Wellington Management Group LLP now owns 5,139,333 shares of the aerospace company's stock valued at $2,631,390,000 after purchasing an additional 974,633 shares during the period. Qtron Investments LLC boosted its position in shares of Northrop Grumman by 149.8% in the 1st quarter. Qtron Investments LLC now owns 2,483 shares of the aerospace company's stock valued at $1,271,000 after purchasing an additional 1,489 shares during the period. Finally, Aptus Capital Advisors LLC boosted its position in shares of Northrop Grumman by 1,579.2% in the 1st quarter. Aptus Capital Advisors LLC now owns 43,022 shares of the aerospace company's stock valued at $22,028,000 after purchasing an additional 40,460 shares during the period. Hedge funds and other institutional investors own 83.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on NOC shares. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $542.00 target price (down from $580.00) on shares of Northrop Grumman in a research report on Tuesday, July 8th. Bank of America upped their target price on Northrop Grumman from $550.00 to $650.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Sanford C. Bernstein reissued a "market perform" rating on shares of Northrop Grumman in a research report on Monday, July 14th. JPMorgan Chase & Co. upped their target price on Northrop Grumman from $480.00 to $585.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada upped their target price on Northrop Grumman from $600.00 to $625.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $586.79.

Insiders Place Their Bets

In other news, VP Thomas H. Jones sold 729 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president directly owned 7,552 shares of the company's stock, valued at approximately $3,819,575.04. This represents a 8.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Roshan S. Roeder sold 991 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $490.00, for a total value of $485,590.00. Following the transaction, the vice president directly owned 319 shares of the company's stock, valued at approximately $156,310. This trade represents a 75.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,536 shares of company stock valued at $8,306,857. Corporate insiders own 0.23% of the company's stock.

Northrop Grumman Stock Performance

NOC traded down $5.2310 on Friday, hitting $591.9790. 616,625 shares of the company traded hands, compared to its average volume of 736,066. The company has a 50 day moving average of $541.47 and a 200-day moving average of $504.68. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $84.76 billion, a PE ratio of 21.82, a PEG ratio of 5.67 and a beta of 0.15. Northrop Grumman Corporation has a 12-month low of $426.24 and a 12-month high of $600.99.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.11 EPS for the quarter, beating the consensus estimate of $6.84 by $0.27. The firm had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.15 billion. Northrop Grumman had a return on equity of 25.52% and a net margin of 9.74%.The firm's revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the business earned $6.36 EPS. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. Sell-side analysts anticipate that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Dividend Announcement

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 paid a dividend of $2.31 per share. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Northrop Grumman's dividend payout ratio is 34.06%.

Northrop Grumman Company 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.