HB Wealth Management LLC Sells 418 Shares of Northrop Grumman Corporation $NOC

Key Points

• HB Wealth Management LLC has reduced its stake in Northrop Grumman Corporation by 6.4%, selling 418 shares and bringing its total holdings to 6,117 shares valued at approximately $3,059,000.
• The company reported $7.11 earnings per share for the last quarter, exceeding analysts' expectations of $6.84, with revenues of $10.35 billion.
• Northrop Grumman declared a quarterly dividend of $2.31, reflecting an annualized dividend yield of 1.5%, with a payout ratio of 34.06%.

HB Wealth Management LLC reduced its position in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 6.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,117 shares of the aerospace company's stock after selling 418 shares during the period. HB Wealth Management LLC's holdings in Northrop Grumman were worth $3,059,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Northrop Grumman by 4.6% in the first quarter. Vanguard Group Inc. now owns 13,266,301 shares of the aerospace company's stock worth $6,792,479,000 after acquiring an additional 588,520 shares during the period. Wellington Management Group LLP raised its position in 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 period. Price T Rowe Associates Inc. MD raised its position in Northrop Grumman by 10.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,241,144 shares of the aerospace company's stock worth $1,147,489,000 after acquiring an additional 210,500 shares during the period. Invesco Ltd. raised its position in Northrop Grumman by 12.1% in the first quarter. Invesco Ltd. now owns 1,944,186 shares of the aerospace company's stock worth $995,443,000 after acquiring an additional 210,506 shares during the period. Finally, Royal Bank of Canada raised its position in Northrop Grumman by 12.0% in the first quarter. Royal Bank of Canada now owns 1,115,625 shares of the aerospace company's stock worth $571,211,000 after acquiring an additional 119,693 shares during the period. 83.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on NOC shares. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Northrop Grumman in a research report on Monday, July 14th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Northrop Grumman in a research report on Tuesday, July 22nd. Robert W. Baird lifted their price objective on shares of Northrop Grumman from $547.00 to $565.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Barclays lifted their price objective on shares of Northrop Grumman from $500.00 to $580.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $542.00 target price (down previously from $580.00) on shares of Northrop Grumman in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $588.85.

Northrop Grumman Price Performance

NOC opened at $605.72 on Thursday. The firm has a 50-day moving average price of $583.57 and a 200-day moving average price of $527.45. The company has a market capitalization of $86.73 billion, a price-to-earnings ratio of 22.33, a PEG ratio of 5.83 and a beta of 0.10. Northrop Grumman Corporation has a twelve month low of $426.24 and a twelve month high of $610.85. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

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

Northrop Grumman Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd were issued a $2.31 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.5%. Northrop Grumman's dividend payout ratio is presently 34.06%.

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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