IFP Advisors Inc Cuts Stock Holdings in Northrop Grumman Corporation $NOC

IFP Advisors Inc trimmed its position in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 11.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,195 shares of the aerospace company's stock after selling 765 shares during the quarter. IFP Advisors Inc's holdings in Northrop Grumman were worth $3,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of NOC. Wellington Management Group LLP boosted its holdings in Northrop Grumman by 23.4% during the 1st 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 last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Northrop Grumman by 1,425.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,001,198 shares of the aerospace company's stock worth $512,624,000 after acquiring an additional 935,554 shares during the last quarter. Nuveen LLC purchased a new position in Northrop Grumman during the 1st quarter worth $369,205,000. Vanguard Group Inc. boosted its holdings in Northrop Grumman by 4.6% during the 1st 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 last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Northrop Grumman by 98.8% in the 1st quarter. AQR Capital Management LLC now owns 899,114 shares of the aerospace company's stock worth $460,355,000 after buying an additional 446,940 shares during the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NOC shares. Barclays boosted their price target on shares of Northrop Grumman from $500.00 to $580.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Wells Fargo & Company reissued an "overweight" rating on shares of Northrop Grumman in a report on Tuesday, July 22nd. Royal Bank Of Canada boosted their price target on shares of Northrop Grumman from $600.00 to $625.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Robert W. Baird boosted their price target on shares of Northrop Grumman from $547.00 to $565.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Finally, Susquehanna boosted their price target on shares of Northrop Grumman from $557.00 to $650.00 and gave the stock a "positive" rating in a report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $601.00.

Northrop Grumman Stock Performance

Shares of NOC stock opened at $623.51 on Friday. The stock has a market capitalization of $89.27 billion, a P/E ratio of 22.98, a PEG ratio of 6.08 and a beta of 0.10. 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's 50 day moving average is $590.32 and its 200 day moving average is $533.65. Northrop Grumman Corporation has a 12 month low of $426.24 and a 12 month high of $640.90.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 EPS for the quarter, beating analysts' consensus estimates of $6.84 by $0.27. The company 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%. Northrop Grumman's revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the company posted $6.36 EPS. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. On average, sell-side analysts anticipate 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 was paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd were given a dividend of $2.31 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $9.24 annualized dividend and a dividend yield of 1.5%. Northrop Grumman's dividend payout ratio is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.