KG&L Capital Management LLC Buys New Position in Northrop Grumman Corporation $NOC

Key Points

• KG&L Capital Management LLC has acquired a new position in Northrop Grumman, purchasing 560 shares valued at approximately $280,000 during the second quarter.
• Northrop Grumman's recent quarterly earnings showed an EPS of $7.11, exceeding analysts’ expectations, with a revenue of $10.35 billion, a 1.3% increase from the prior year.
• The company’s quarterly dividend of $2.31 per share represents an annualized dividend yield of 1.6% and reflects a dividend payout ratio of 34.06%.

KG&L Capital Management LLC purchased a new position in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 560 shares of the aerospace company's stock, valued at approximately $280,000.

Several other hedge funds also recently modified their holdings of the business. IMA Advisory Services Inc. acquired a new stake in Northrop Grumman during the first quarter worth $27,000. Saudi Central Bank bought a new position in shares of Northrop Grumman during the 1st quarter worth about $28,000. Banque Cantonale Vaudoise bought a new position in shares of Northrop Grumman during the 1st quarter worth about $30,000. Flaharty Asset Management LLC acquired a new stake in shares of Northrop Grumman during the 1st quarter valued at about $36,000. Finally, Hollencrest Capital Management increased its stake in Northrop Grumman by 790.0% in the first quarter. Hollencrest Capital Management now owns 89 shares of the aerospace company's stock valued at $45,000 after acquiring an additional 79 shares during the period. 83.40% of the stock is owned by institutional investors.

Northrop Grumman Trading Up 1.5%

NOC opened at $594.50 on Monday. The firm has a 50 day simple moving average of $580.34 and a 200 day simple moving average of $525.58. Northrop Grumman Corporation has a fifty-two week low of $426.24 and a fifty-two week high of $600.99. The company has a market cap of $85.12 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 5.69 and a beta of 0.13. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

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, topping analysts' consensus estimates of $6.84 by $0.27. The business had revenue of $10.35 billion during 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 firm's quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $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 year.

Northrop Grumman Dividend Announcement

The business also recently disclosed 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 of this dividend was Tuesday, September 2nd. This represents a $9.24 annualized dividend and a dividend yield of 1.6%. Northrop Grumman's dividend payout ratio is currently 34.06%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Sanford C. Bernstein reiterated a "market perform" rating on shares of Northrop Grumman in a research note on Monday, July 14th. Robert W. Baird upped their price target on Northrop Grumman from $547.00 to $565.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Wall Street Zen raised Northrop Grumman from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Barclays upped their target price 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. Finally, Wells Fargo & Company reiterated an "overweight" rating on shares of Northrop Grumman in a research report on Tuesday, July 22nd. One 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $588.85.

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.