Cresset Asset Management LLC Grows Holdings in Northrop Grumman Corporation $NOC

Key Points

• Cresset Asset Management LLC increased its stake in Northrop Grumman Corporation by 243.7% in the first quarter, owning a total of 23,759 shares valued at approximately $12.17 million.
• A quarterly dividend of $2.31 was recently paid by Northrop Grumman, marking an increase from the previous dividend of $2.06, and resulting in an annualized dividend yield of 1.6%.
• Northrop Grumman reported $7.11 EPS for the last quarter, beating the consensus estimate, with revenue reaching $10.35 billion, reflecting a 1.3% year-over-year growth.

Cresset Asset Management LLC grew its holdings in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 243.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,759 shares of the aerospace company's stock after purchasing an additional 16,847 shares during the period. Cresset Asset Management LLC's holdings in Northrop Grumman were worth $12,165,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. IMA Advisory Services Inc. purchased a new stake in shares of Northrop Grumman in the 1st quarter worth $27,000. Banque Cantonale Vaudoise bought a new position in Northrop Grumman in the 1st quarter worth $30,000. Wood Tarver Financial Group LLC bought a new position in Northrop Grumman in the 4th quarter worth $32,000. Bellwether Advisors LLC bought a new position in shares of Northrop Grumman during the 4th quarter valued at about $33,000. Finally, Hollencrest Capital Management boosted 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 currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Northrop Grumman

In related news, VP Roshan S. Roeder sold 991 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $490.00, for a total transaction of $485,590.00. Following the completion of the transaction, the vice president directly owned 319 shares in the company, valued at $156,310. The trade was a 75.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Thomas H. Jones sold 729 shares of the business'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 $368,706.33. Following the transaction, the vice president owned 7,552 shares of the company's stock, valued at $3,819,575.04. This represents a 8.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,536 shares of company stock valued at $8,306,857. Company insiders own 0.23% of the company's stock.

Northrop Grumman Stock Up 0.2%

NYSE NOC traded up $1.2990 on Tuesday, hitting $586.1190. The stock had a trading volume of 470,683 shares, compared to its average volume of 882,543. Northrop Grumman Corporation has a 52-week low of $426.24 and a 52-week high of $594.68. The business's fifty day moving average price is $535.88 and its 200 day moving average price is $502.32. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The stock has a market cap of $83.92 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 5.60 and a beta of 0.15.

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, topping the consensus estimate of $6.84 by $0.27. Northrop Grumman had a net margin of 9.74% and a return on equity of 25.52%. The business had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.15 billion. During the same period in the previous year, the firm posted $6.36 earnings per share. The business's revenue for the quarter 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. Equities research analysts anticipate that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on NOC. UBS Group dropped their price objective on shares of Northrop Grumman from $583.00 to $571.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Truist Financial reissued a "buy" rating and set a $625.00 price objective (up previously from $550.00) on shares of Northrop Grumman in a report on Wednesday, July 23rd. Susquehanna increased their price objective on shares of Northrop Grumman from $557.00 to $650.00 and gave the company a "positive" rating in a report on Tuesday, July 22nd. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $542.00 target price (down from $580.00) on shares of Northrop Grumman in a research report on Tuesday, July 8th. Finally, Bank of America increased their price objective on shares of Northrop Grumman from $550.00 to $650.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Northrop Grumman presently has an average rating of "Moderate Buy" and a consensus price target of $586.79.

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.