Fifth Third Bancorp Sells 1,801 Shares of Northrop Grumman Corporation $NOC

Key Points

• Fifth Third Bancorp reduced its holdings in Northrop Grumman by 8.7%, selling 1,801 shares and retaining 18,942 shares valued at approximately $9.47 million.
• Northrop Grumman reported $7.11 EPS for the last quarter, exceeding the consensus estimate of $6.84, with a revenue of $10.35 billion.
• The company’s board declared a quarterly dividend of $2.31, resulting in an annualized dividend yield of 1.6% based on a payout ratio of 34.06%.

Fifth Third Bancorp decreased its holdings in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 8.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,942 shares of the aerospace company's stock after selling 1,801 shares during the quarter. Fifth Third Bancorp's holdings in Northrop Grumman were worth $9,471,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in Northrop Grumman by 55,522.3% during the 1st quarter. GAMMA Investing LLC now owns 1,520,158 shares of the aerospace company's stock worth $778,336,000 after buying an additional 1,517,425 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Northrop Grumman by 23.4% in the first quarter. Wellington Management Group LLP now owns 5,139,333 shares of the aerospace company's stock worth $2,631,390,000 after acquiring an additional 974,633 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of Northrop Grumman by 1,425.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,001,198 shares of the aerospace company's stock worth $512,624,000 after purchasing an additional 935,554 shares in the last quarter. Nuveen LLC bought a new stake in shares of Northrop Grumman during the first quarter valued at approximately $369,205,000. Finally, Vanguard Group Inc. grew its stake in shares of Northrop Grumman by 4.6% during the first quarter. Vanguard Group Inc. now owns 13,266,301 shares of the aerospace company's stock valued at $6,792,479,000 after purchasing an additional 588,520 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company's stock.

Northrop Grumman Trading Down 0.2%

Shares of NYSE NOC opened at $585.36 on Friday. Northrop Grumman Corporation has a twelve month low of $426.24 and a twelve month high of $600.99. The stock has a market cap of $83.81 billion, a price-to-earnings ratio of 21.58, a P/E/G ratio of 5.61 and a beta of 0.13. 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 company's fifty day moving average is $578.83 and its 200-day moving average is $524.31.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued 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 return on equity of 25.52% and a net margin of 9.74%.The business had revenue of $10.35 billion for the quarter, compared to the consensus estimate of $10.15 billion. During the same quarter last year, the business posted $6.36 EPS. The firm's 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. Equities research analysts predict that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Tuesday, September 2nd were given a $2.31 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $9.24 annualized dividend and a dividend yield of 1.6%. Northrop Grumman's payout ratio is currently 34.06%.

Analyst Upgrades and Downgrades

NOC has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $542.00 price objective (down previously from $580.00) on shares of Northrop Grumman in a report on Tuesday, July 8th. Robert W. Baird upped their price target on Northrop Grumman from $547.00 to $565.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Bank of America lifted their price objective on Northrop Grumman from $550.00 to $650.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Sanford C. Bernstein restated a "market perform" rating on shares of Northrop Grumman in a research report on Monday, July 14th. Finally, Wall Street Zen upgraded shares of Northrop Grumman from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price 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.

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