Foster & Motley Inc. Increases Stake in Northrop Grumman Corporation $NOC

Key Points

• Foster & Motley Inc. increased its stake in Northrop Grumman Corporation (NYSE:NOC) by 34.2% during the second quarter, bringing its total shares to 13,032, valued at approximately $6.5 million.
• Analyst reports suggest a bullish outlook for Northrop Grumman, with price targets raised by firms like Morgan Stanley and Bank of America, reaching as high as $720.00.
• Northrop Grumman recently declared a quarterly dividend of $2.31 per share, providing an annualized yield of 1.6%, with a payout ratio of 34.06%.

Foster & Motley Inc. boosted its stake in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 34.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,032 shares of the aerospace company's stock after acquiring an additional 3,321 shares during the quarter. Foster & Motley Inc.'s holdings in Northrop Grumman were worth $6,516,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. IMA Advisory Services Inc. purchased a new position in Northrop Grumman during the first quarter valued at approximately $27,000. Saudi Central Bank purchased a new position in Northrop Grumman during the first quarter valued at approximately $28,000. Banque Cantonale Vaudoise purchased a new position in Northrop Grumman during the first quarter valued at approximately $30,000. Flaharty Asset Management LLC purchased a new position in Northrop Grumman during the first quarter valued at approximately $36,000. Finally, Hollencrest Capital Management raised its position in Northrop Grumman by 790.0% during the first quarter. Hollencrest Capital Management now owns 89 shares of the aerospace company's stock valued at $45,000 after acquiring an additional 79 shares in the last quarter. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NOC has been the subject of a number of recent analyst reports. Morgan Stanley boosted their price objective on Northrop Grumman from $625.00 to $720.00 and gave the company an "overweight" rating in a research report on Wednesday. Bank of America boosted their price objective on Northrop Grumman from $550.00 to $650.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft set a $700.00 price objective on Northrop Grumman and gave the company a "buy" rating in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price objective 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, Wells Fargo & Company restated an "overweight" rating on shares of Northrop Grumman in a research report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Northrop Grumman presently has an average rating of "Moderate Buy" and an average price target of $613.15.

Northrop Grumman Stock Down 0.8%

Shares of NOC opened at $594.15 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. Northrop Grumman Corporation has a one year low of $426.24 and a one year high of $640.90. The stock has a market capitalization of $85.07 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 5.82 and a beta of 0.10. The stock has a 50 day moving average price of $592.48 and a 200 day moving average price of $537.02.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $10.35 billion during the quarter, compared to analysts' expectations of $10.15 billion. During the same period in the previous year, the business earned $6.36 earnings per share. The firm's revenue for the quarter was up 1.3% on a year-over-year basis. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. Equities research analysts forecast that Northrop Grumman Corporation will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

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

About Northrop Grumman

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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