Kestra Advisory Services LLC Has $9.31 Million Stock Position in Northrop Grumman Corporation $NOC

Key Points

• Kestra Advisory Services LLC reduced its holdings in Northrop Grumman Corporation by 12.2%, selling 2,524 shares and bringing their total shares to 18,178, valued at approximately $9.3 million.
• Northrop Grumman reported a quarterly EPS of $7.11, surpassing estimates, with revenue of $10.35 billion, reflecting a 1.3% increase from the previous year.
• The company is set to distribute a quarterly dividend of $2.31 on September 17th, resulting in an annualized dividend yield of 1.6%.

Kestra Advisory Services LLC cut its stake in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 12.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,178 shares of the aerospace company's stock after selling 2,524 shares during the period. Kestra Advisory Services LLC's holdings in Northrop Grumman were worth $9,307,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of NOC. GAMMA Investing LLC lifted its position in Northrop Grumman by 55,522.3% during 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 last quarter. Wellington Management Group LLP lifted its position 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 worth $2,631,390,000 after acquiring an additional 974,633 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position 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 worth $512,624,000 after acquiring an additional 935,554 shares during the last quarter. Nuveen LLC acquired a new stake in Northrop Grumman during the first quarter worth approximately $369,205,000. Finally, Vanguard Group Inc. lifted its position in Northrop Grumman by 4.6% during the first 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. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Northrop Grumman Price Performance

Shares of NYSE NOC traded up $1.16 during midday trading on Thursday, reaching $587.77. 479,045 shares of the company were exchanged, compared to its average volume of 980,454. The stock's 50-day moving average price is $546.89 and its 200-day moving average price is $506.93. The stock has a market cap of $84.16 billion, a P/E ratio of 21.67, a PEG ratio of 5.68 and a beta of 0.15. Northrop Grumman Corporation has a one year low of $426.24 and a one year 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.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share for the quarter, topping 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 was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.36 earnings per share. 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 fiscal year.

Northrop Grumman Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $2.31 per share. 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 presently 34.06%.

Insider Buying and Selling at Northrop Grumman

In other news, VP Robert J. Fleming sold 3,500 shares of the 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 sale, the vice president owned 1,827 shares of the company's stock, valued at approximately $924,041.79. This represents a 65.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Roshan S. Roeder sold 991 shares of Northrop Grumman stock in a transaction that occurred on 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 in the company, valued at approximately $156,310. This represents a 75.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,536 shares of company stock worth $8,306,857. Company insiders own 0.23% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on NOC. Truist Financial restated a "buy" rating and set a $625.00 price objective (up from $550.00) on shares of Northrop Grumman in a research report on Wednesday, July 23rd. Robert W. Baird lifted their price target on shares of Northrop Grumman from $547.00 to $565.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Susquehanna lifted their price target on shares of Northrop Grumman from $557.00 to $650.00 and gave the company a "positive" rating in a research report on Tuesday, July 22nd. Bank of America lifted their price target on shares of Northrop Grumman from $550.00 to $650.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, Sanford C. Bernstein reiterated a "market perform" rating on shares of Northrop Grumman in a research report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, Northrop Grumman currently has a consensus rating of "Moderate Buy" and a consensus target price of $588.85.

About Northrop Grumman

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.