Kaufman Rossin Wealth LLC Purchases New Position in Northrop Grumman Corporation $NOC

Key Points

• Kaufman Rossin Wealth LLC invested approximately $599,000 in Northrop Grumman Corporation, purchasing 1,169 shares during the first quarter.
• Institutional investors now own 83.40% of Northrop Grumman's stock, with several firms significantly increasing their stakes in the company.
• Northrop Grumman's quarterly earnings surpassed expectations, reporting $7.11 earnings per share, and the company announced a quarterly dividend of $2.31 per share.

Kaufman Rossin Wealth LLC acquired a new position in Northrop Grumman Corporation (NYSE:NOC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,169 shares of the aerospace company's stock, valued at approximately $599,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. IMA Advisory Services Inc. purchased a new stake in shares of Northrop Grumman in the first quarter worth approximately $27,000. Banque Cantonale Vaudoise purchased a new stake in shares of Northrop Grumman in the first quarter worth approximately $30,000. Wood Tarver Financial Group LLC purchased a new stake in shares of Northrop Grumman in the fourth quarter worth approximately $32,000. Bellwether Advisors LLC purchased a new stake in shares of Northrop Grumman in the fourth quarter worth approximately $33,000. Finally, Hollencrest Capital Management raised its stake in shares of Northrop Grumman by 790.0% in the first quarter. Hollencrest Capital Management now owns 89 shares of the aerospace company's stock worth $45,000 after purchasing an additional 79 shares during the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Robert J. Fleming sold 3,500 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were 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 directly owned 1,827 shares in the company, valued at $924,041.79. The trade was a 65.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kathy J. Warden sold 7,500 shares of the business's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $505.77, for a total transaction of $3,793,275.00. Following the sale, the chief executive officer owned 201,602 shares of the company's stock, valued at approximately $101,964,243.54. This represents a 3.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,536 shares of company stock valued at $8,306,857. 0.23% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Royal Bank Of Canada increased their price target on Northrop Grumman from $600.00 to $625.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. increased their price objective on Northrop Grumman from $480.00 to $585.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Susquehanna raised their price target on Northrop Grumman from $557.00 to $650.00 and gave the stock a "positive" rating in a report on Tuesday, July 22nd. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Northrop Grumman in a report on Tuesday, July 22nd. Finally, Truist Financial reaffirmed a "buy" rating and issued a $625.00 price target (up from $550.00) on shares of Northrop Grumman in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $586.79.

Northrop Grumman Trading Down 0.9%

NYSE:NOC traded down $5.2310 during mid-day trading on Friday, reaching $591.9790. 616,625 shares of the company's stock traded hands, compared to its average volume of 736,066. Northrop Grumman Corporation has a 12-month low of $426.24 and a 12-month high of $600.99. The firm has a market capitalization of $84.76 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 5.67 and a beta of 0.15. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The company has a 50 day moving average price of $541.47 and a 200-day moving average price of $504.68.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share for the quarter, beating the consensus estimate of $6.84 by $0.27. The business had revenue of $10.35 billion for the quarter, compared to analysts' expectations of $10.15 billion. Northrop Grumman had a return on equity of 25.52% and a net margin of 9.74%.The business's revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted $6.36 EPS. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. On average, sell-side analysts predict 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 dividend on an annualized basis 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.