Ethic Inc. Acquires 2,011 Shares of Northrop Grumman Corporation $NOC

Key Points

• Ethic Inc. increased its Northrop Grumman stake by 17.9% in the fourth quarter, buying 2,011 additional shares and bringing its total to 13,277 shares worth about $7.57 million.
• Northrop Grumman reported better-than-expected Q1 results, posting EPS of $6.14 versus the $6.06 estimate and revenue of $9.88 billion versus $9.75 billion expected. Quarterly revenue rose 4.4% year over year.
• The company continues to return cash to shareholders with a quarterly dividend of $2.31 per share, equal to an annualized yield of 1.7%. Analysts currently rate the stock a Moderate Buy with a consensus price target of $710.74.

Ethic Inc. boosted its holdings in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 17.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,277 shares of the aerospace company's stock after purchasing an additional 2,011 shares during the period. Ethic Inc.'s holdings in Northrop Grumman were worth $7,571,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Northrop Grumman by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 13,740,721 shares of the aerospace company's stock valued at $7,835,097,000 after purchasing an additional 209,135 shares in the last quarter. Franklin Resources Inc. grew its position in Northrop Grumman by 2.2% in the third quarter. Franklin Resources Inc. now owns 2,996,284 shares of the aerospace company's stock valued at $1,825,696,000 after purchasing an additional 63,223 shares in the last quarter. Ameriprise Financial Inc. grew its position in Northrop Grumman by 0.3% in the third quarter. Ameriprise Financial Inc. now owns 1,624,658 shares of the aerospace company's stock valued at $990,046,000 after purchasing an additional 4,844 shares in the last quarter. Bank of New York Mellon Corp grew its position in Northrop Grumman by 26.7% in the third quarter. Bank of New York Mellon Corp now owns 1,051,226 shares of the aerospace company's stock valued at $640,534,000 after purchasing an additional 221,431 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of Northrop Grumman by 4.1% in the 3rd quarter. Legal & General Group Plc now owns 746,585 shares of the aerospace company's stock valued at $454,909,000 after acquiring an additional 29,478 shares during the period. Institutional investors own 83.40% of the company's stock.

Northrop Grumman Stock Performance

NYSE NOC opened at $549.40 on Friday. The firm has a 50-day moving average of $678.13 and a 200-day moving average of $636.03. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.04 and a current ratio of 1.15. The stock has a market cap of $78.03 billion, a PE ratio of 17.20, a P/E/G ratio of 3.75 and a beta of -0.11. Northrop Grumman Corporation has a 52-week low of $453.01 and a 52-week high of $774.00.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its earnings results on Tuesday, April 21st. The aerospace company reported $6.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.06 by $0.08. The company had revenue of $9.88 billion during the quarter, compared to analysts' expectations of $9.75 billion. Northrop Grumman had a net margin of 10.80% and a return on equity of 24.72%. Northrop Grumman's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the company posted $6.06 EPS. Northrop Grumman has set its FY 2026 guidance at 27.400-27.900 EPS. On average, sell-side analysts anticipate that Northrop Grumman Corporation will post 27.92 EPS for the current year.

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders of record on Monday, February 23rd were paid a dividend of $2.31 per share. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Monday, February 23rd. Northrop Grumman's dividend payout ratio (DPR) is currently 28.92%.

Analyst Ratings Changes

NOC has been the subject of a number of analyst reports. Wells Fargo & Company initiated coverage on shares of Northrop Grumman in a research report on Wednesday, April 1st. They issued an "overweight" rating and a $800.00 price objective for the company. Wall Street Zen downgraded shares of Northrop Grumman from a "strong-buy" rating to a "hold" rating in a research report on Saturday, April 25th. Jefferies Financial Group set a $660.00 price objective on shares of Northrop Grumman in a research report on Sunday, April 26th. TD Cowen reissued a "hold" rating on shares of Northrop Grumman in a research report on Wednesday, January 28th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Northrop Grumman in a research report on Monday, March 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Northrop Grumman presently has a consensus rating of "Moderate Buy" and a consensus price target of $710.74.

Insider Transactions at Northrop Grumman

In other news, CAO Michael A. Hardesty sold 147 shares of the firm's stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $732.98, for a total transaction of $107,748.06. Following the completion of the sale, the chief accounting officer owned 2,525 shares in the company, valued at approximately $1,850,774.50. This trade represents a 5.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Benjamin R. Davies sold 2,189 shares of the firm's stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $719.61, for a total transaction of $1,575,226.29. Following the sale, the vice president owned 151 shares of the company's stock, valued at approximately $108,661.11. This represents a 93.55% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company's stock.

About Northrop Grumman

Northrop Grumman Corporation NYSE: NOC is a leading U.S.-based aerospace and defense company that designs, builds and sustains advanced systems, products and technologies for government and commercial customers. Formed through the combination of Northrop and Grumman businesses in the 1990s, the company's portfolio spans manned and unmanned aircraft, space systems, missile defense, radar and sensor systems, and integrated command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) solutions.

The company's work includes airframe and platform manufacturing, space hardware and satellite systems, advanced mission systems and cybersecurity services, as well as logistics, sustainment and modernization programs.

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