Howard Financial Services LTD. Sells 691 Shares of Northrop Grumman Corporation $NOC

Key Points

• Howard Financial Services LTD. reduced its position in Northrop Grumman shares by 38.4%, selling 691 shares, and now holds 1,110 shares valued at approximately $555,000.
• Northrop Grumman's recent quarterly earnings exceeded analysts' expectations, reporting $7.11 EPS and revenue of $10.35 billion.
• The company announced a quarterly dividend of $2.31, representing a 1.6% yield and a dividend payout ratio of 34.06%.

Howard Financial Services LTD. lowered its position in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 38.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,110 shares of the aerospace company's stock after selling 691 shares during the period. Howard Financial Services LTD.'s holdings in Northrop Grumman were worth $555,000 as of its most recent SEC filing.

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

Northrop Grumman Trading Down 1.2%

Shares of NOC opened at $575.91 on Friday. The stock has a market capitalization of $82.46 billion, a P/E ratio of 21.23, a PEG ratio of 5.58 and a beta of 0.13. Northrop Grumman Corporation has a twelve month low of $426.24 and a twelve month high of $600.99. 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 firm has a fifty day simple moving average of $567.43 and a two-hundred day simple moving average of $517.73.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.84 by $0.27. The firm had revenue of $10.35 billion for the quarter, compared to analysts' expectations of $10.15 billion. Northrop Grumman had a net margin of 9.74% and a return on equity of 25.52%. The company's revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.36 earnings per share. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. On average, research analysts anticipate 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 will be paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd will be issued a $2.31 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $9.24 annualized dividend and a yield of 1.6%. Northrop Grumman's dividend payout ratio (DPR) is 34.06%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wall Street Zen upgraded Northrop Grumman from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. Wells Fargo & Company reiterated an "overweight" rating on shares of Northrop Grumman in a research report on Tuesday, July 22nd. Bank of America boosted their price objective on shares of Northrop Grumman from $550.00 to $650.00 and gave the stock a "buy" rating in a 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, Truist Financial reaffirmed a "buy" rating and set a $625.00 price objective (up from $550.00) on shares of Northrop Grumman in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $588.85.

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.

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