Horizon Investments LLC Buys 1,036 Shares of Northrop Grumman Corporation $NOC

Key Points

• Horizon Investments LLC increased its position in Northrop Grumman by 21.1%, acquiring an additional 1,036 shares, making its total holdings worth $3,039,000.
• Northrop Grumman's quarterly earnings showcased a profit of $7.11 per share, exceeding analysts' expectations, and the company also announced a dividend increase to $2.31 per share.
• Despite recent insider selling, with notable sales from CEO Kathy J. Warden, Northrop Grumman remains significantly held by institutional investors, owning 83.40% of the company's stock.

Horizon Investments LLC lifted its holdings in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 21.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,936 shares of the aerospace company's stock after purchasing an additional 1,036 shares during the quarter. Horizon Investments LLC's holdings in Northrop Grumman were worth $3,039,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of NOC. Fox Run Management L.L.C. increased its stake in Northrop Grumman by 116.7% during the 1st quarter. Fox Run Management L.L.C. now owns 1,712 shares of the aerospace company's stock worth $877,000 after purchasing an additional 922 shares in the last quarter. Sei Investments Co. lifted its stake in Northrop Grumman by 2.9% in the first quarter. Sei Investments Co. now owns 67,086 shares of the aerospace company's stock valued at $32,442,000 after buying an additional 1,892 shares in the last quarter. Kovitz Investment Group Partners LLC increased its position in shares of Northrop Grumman by 12.6% during the first quarter. Kovitz Investment Group Partners LLC now owns 10,705 shares of the aerospace company's stock worth $5,481,000 after acquiring an additional 1,202 shares in the last quarter. Vestmark Advisory Solutions Inc. increased its position in shares of Northrop Grumman by 90.7% during the first quarter. Vestmark Advisory Solutions Inc. now owns 10,252 shares of the aerospace company's stock worth $5,249,000 after acquiring an additional 4,877 shares in the last quarter. Finally, Holderness Investments Co. increased its position in shares of Northrop Grumman by 2.2% during the first quarter. Holderness Investments Co. now owns 2,005 shares of the aerospace company's stock worth $1,027,000 after acquiring an additional 44 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Thomas H. Jones sold 729 shares of Northrop Grumman stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $505.77, for a total value of $368,706.33. Following the completion of the transaction, the vice president owned 7,552 shares of the company's stock, valued at $3,819,575.04. This trade represents a 8.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Roshan S. Roeder sold 991 shares of Northrop Grumman stock in a transaction dated 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 of the company's stock, valued at approximately $156,310. This trade represents a 75.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,536 shares of company stock worth $8,306,857. Insiders own 0.23% of the company's stock.

Analyst Ratings Changes

NOC has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on shares of Northrop Grumman from $480.00 to $585.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Barclays increased 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. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $542.00 price objective (down previously from $580.00) on shares of Northrop Grumman in a research report on Tuesday, July 8th. 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. Finally, Sanford C. Bernstein reissued a "market perform" rating on shares of Northrop Grumman in a research report on Monday, July 14th. One 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, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $586.79.

Northrop Grumman Stock Up 0.2%

NYSE:NOC traded up $1.2990 on Tuesday, hitting $586.1190. 470,683 shares of the company's stock were exchanged, compared to its average volume of 995,656. The firm has a 50-day moving average price of $533.94 and a 200-day moving average price of $501.74. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. Northrop Grumman Corporation has a 52 week low of $426.24 and a 52 week high of $594.68. The company has a market cap of $83.92 billion, a P/E ratio of 21.60, a price-to-earnings-growth ratio of 5.59 and a beta of 0.15.

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 net margin of 9.74% and a return on equity of 25.52%. The firm had revenue of $10.35 billion for the quarter, compared to analysts' expectations of $10.15 billion. During the same period in the previous year, the firm posted $6.36 EPS. The company'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. As a group, analysts expect that Northrop Grumman Corporation will post 28.05 EPS for the current fiscal year.

Northrop Grumman Company 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.