Martingale Asset Management L P Has $25.65 Million Stock Position in Northrop Grumman Corporation $NOC

Key Points

• Martingale Asset Management L P reduced its stake in Northrop Grumman Corporation by 4.9%, selling 2,582 shares during the first quarter, leaving it with 50,100 shares valued at approximately $25.7 million.
• Institutional investors hold 83.40% of Northrop Grumman's stock, with notable increases in holdings from firms like Brookstone Capital Management and Golden State Wealth Management in recent quarters.
• Northrop Grumman announced a quarterly dividend of $2.31 per share, reflecting an annualized payout of $9.24 and a dividend yield of 1.6%, with a current payout ratio of 34.06%.

Martingale Asset Management L P lowered its holdings in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 4.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,100 shares of the aerospace company's stock after selling 2,582 shares during the period. Martingale Asset Management L P's holdings in Northrop Grumman were worth $25,652,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the business. IMA Advisory Services Inc. bought a new position in Northrop Grumman during the first quarter worth about $27,000. Banque Cantonale Vaudoise bought a new position in shares of Northrop Grumman during the 1st quarter worth approximately $30,000. Wood Tarver Financial Group LLC acquired a new stake in Northrop Grumman in the 4th quarter valued at $32,000. Bellwether Advisors LLC bought a new stake in Northrop Grumman in the fourth quarter valued at $33,000. Finally, Hollencrest Capital Management raised its stake in Northrop Grumman by 790.0% during the first quarter. Hollencrest Capital Management now owns 89 shares of the aerospace company's stock worth $45,000 after acquiring an additional 79 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NOC has been the topic of several recent analyst reports. Bank of America boosted their target price on shares of Northrop Grumman from $550.00 to $650.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $542.00 price target (down from $580.00) on shares of Northrop Grumman in a report on Tuesday, July 8th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Northrop Grumman in a research note on Tuesday, July 22nd. Susquehanna raised 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. Finally, Barclays boosted their target price on Northrop Grumman from $500.00 to $580.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $586.79.

Northrop Grumman Price Performance

Shares of NYSE NOC traded down $5.2310 during trading on Friday, reaching $591.9790. The company had a trading volume of 616,625 shares, compared to its average volume of 736,066. Northrop Grumman Corporation has a 52 week low of $426.24 and a 52 week high of $600.99. The business's 50 day moving average price is $541.47 and its 200-day moving average price is $504.68. The stock has a market cap of $84.76 billion, a PE 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 quick ratio of 0.93 and a current ratio of 1.04.

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, topping the consensus estimate of $6.84 by $0.27. The firm had revenue of $10.35 billion during 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.36 EPS. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. Analysts expect that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Tuesday, September 2nd will be issued a $2.31 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $9.24 annualized dividend and a yield of 1.6%. Northrop Grumman's dividend payout ratio (DPR) is currently 34.06%.

Insider Transactions at Northrop Grumman

In related news, VP Robert J. Fleming sold 3,500 shares of the company's 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 in the company, valued at approximately $924,041.79. This represents a 65.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Kathy J. Warden sold 7,500 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $505.77, for a total value of $3,793,275.00. Following the completion of the transaction, the chief executive officer directly owned 201,602 shares in the company, valued at $101,964,243.54. The trade was a 3.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,536 shares of company stock valued at $8,306,857 in the last three months. Company insiders own 0.23% of the company's stock.

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.