Huber Capital Management LLC Sells 2,000 Shares of Northrop Grumman Corporation $NOC

Key Points

• Huber Capital Management LLC reduced its stake in Northrop Grumman by 16.3%, selling 2,000 shares and now owning 10,293 shares valued at approximately $5.27 million.
• Multiple analysts have raised their price targets for Northrop Grumman, with Susquehanna setting the highest at $650.00 and a consensus target price of $588.85.
• Northrop Grumman announced a quarterly dividend of $2.31 per share, resulting in an annualized dividend yield of 1.6%.

Huber Capital Management LLC decreased its position in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 16.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 10,293 shares of the aerospace company's stock after selling 2,000 shares during the period. Huber Capital Management LLC's holdings in Northrop Grumman were worth $5,270,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of 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 purchasing an additional 588,520 shares during the last quarter. Wellington Management Group LLP lifted its stake 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 lifted its stake 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. lifted its stake 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, GAMMA Investing LLC lifted its stake in Northrop Grumman by 55,522.3% in the first quarter. GAMMA Investing LLC now owns 1,520,158 shares of the aerospace company's stock worth $778,336,000 after acquiring an additional 1,517,425 shares during the period. Institutional investors own 83.40% of the company's stock.

Insider Buying and Selling

In other news, VP Robert J. Fleming sold 3,500 shares of Northrop Grumman stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $505.77, for a total value of $1,770,195.00. Following the completion of the transaction, the vice president owned 1,827 shares of the company's stock, valued at $924,041.79. The trade was a 65.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Roshan S. Roeder sold 991 shares of Northrop Grumman stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $490.00, for a total value 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 represents a 75.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,536 shares of company stock worth $8,306,857 in the last 90 days. 0.23% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NOC. Robert W. Baird raised their price target on Northrop Grumman from $547.00 to $565.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Truist Financial reaffirmed a "buy" rating and issued a $625.00 price target (up previously from $550.00) on shares of Northrop Grumman in a research note on Wednesday, July 23rd. Bank of America raised their price target on Northrop Grumman from $550.00 to $650.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Northrop Grumman in a research note on Tuesday, July 22nd. Finally, Barclays raised their price target on Northrop Grumman from $500.00 to $580.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. One equities 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 company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $588.85.

Northrop Grumman Stock Up 0.4%

Northrop Grumman stock traded up $2.07 on Monday, hitting $589.97. 528,569 shares of the stock traded hands, compared to its average volume of 699,430. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The firm has a market cap of $84.47 billion, a P/E ratio of 21.75, a price-to-earnings-growth ratio of 5.65 and a beta of 0.13. The business's fifty day simple moving average is $550.60 and its 200 day simple moving average is $509.16. Northrop Grumman Corporation has a 1 year low of $426.24 and a 1 year high of $600.99.

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

Northrop Grumman Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd will be given a $2.31 dividend. This represents a $9.24 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Northrop Grumman's payout ratio is currently 34.06%.

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.