Intech Investment Management LLC Sells 66,330 Shares of Northrop Grumman Corporation $NOC

Key Points

• Intech Investment Management LLC has reduced its stake in Northrop Grumman Corporation by 62.8%, now holding 39,349 shares after selling 66,330 during the first quarter.
• Northrop Grumman's recent quarterly earnings report showed an EPS of $7.11, surpassing estimates, with revenues reaching $10.35 billion—a 1.3% year-over-year increase.
• The company declared a quarterly dividend of $2.31 per share, which represents an annualized yield of 1.6% and a dividend payout ratio of 34.06%.

Intech Investment Management LLC reduced its position in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 62.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 39,349 shares of the aerospace company's stock after selling 66,330 shares during the period. Intech Investment Management LLC's holdings in Northrop Grumman were worth $20,147,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. IMA Advisory Services Inc. purchased a new position in Northrop Grumman in the 1st quarter worth approximately $27,000. Saudi Central Bank purchased a new position in Northrop Grumman in the 1st quarter worth approximately $28,000. Banque Cantonale Vaudoise purchased a new position in Northrop Grumman in the 1st quarter worth approximately $30,000. Wood Tarver Financial Group LLC purchased a new position in Northrop Grumman in the 4th quarter worth approximately $32,000. Finally, Flaharty Asset Management LLC purchased a new position in Northrop Grumman in the 1st quarter worth approximately $36,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Stock Performance

NYSE:NOC traded down $7.04 during trading hours on Friday, reaching $575.91. The company had a trading volume of 717,854 shares, compared to its average volume of 602,484. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. Northrop Grumman Corporation has a 52 week low of $426.24 and a 52 week high of $600.99. The firm has a market cap of $82.46 billion, a price-to-earnings ratio of 21.23, a PEG ratio of 5.58 and a beta of 0.13. The firm's 50 day moving average price is $567.43 and its 200-day moving average price is $517.73.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued 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. 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 during the quarter, compared to the consensus estimate of $10.15 billion. During the same quarter in the previous year, the firm posted $6.36 EPS. The company's revenue for the quarter was up 1.3% compared to the same quarter last year. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. On average, analysts forecast 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. Stockholders of record on Tuesday, September 2nd will be given a dividend of $2.31 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.6%. Northrop Grumman's payout ratio is presently 34.06%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $542.00 price objective (down from $580.00) on shares of Northrop Grumman in a report on Tuesday, July 8th. Susquehanna boosted their price objective 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. Wall Street Zen upgraded shares of Northrop Grumman from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Sanford C. Bernstein reaffirmed 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 issued a $625.00 target price (up previously from $550.00) on shares of Northrop Grumman in a research report on Wednesday, July 23rd. One investment 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.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.