MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $101.64 Million Stock Holdings in Northrop Grumman Corporation $NOC

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. has significantly increased its stake in Northrop Grumman by 60.3%, owning 198,503 shares valued at $101.64 million.
• Northrop Grumman's quarterly earnings report showed an EPS of $7.11, surpassing estimates, with revenues of $10.35 billion—an increase of 1.3% year-over-year.
• The company has declared a quarterly dividend of $2.31 per share, translating to an annualized yield of 1.6% for shareholders of record.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 60.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 198,503 shares of the aerospace company's stock after purchasing an additional 74,633 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.14% of Northrop Grumman worth $101,636,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. IMA Advisory Services Inc. bought a new position in Northrop Grumman in the first quarter valued at $27,000. Saudi Central Bank bought a new position in shares of Northrop Grumman in the 1st quarter valued at about $28,000. Banque Cantonale Vaudoise bought a new position in shares of Northrop Grumman in the 1st quarter valued at about $30,000. Wood Tarver Financial Group LLC bought a new position in shares of Northrop Grumman in the 4th quarter valued at about $32,000. Finally, Hollencrest Capital Management grew its position in shares of Northrop Grumman by 790.0% in the 1st 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. Institutional investors own 83.40% of the company's stock.

Analyst Upgrades and Downgrades

NOC has been the subject of a number of analyst reports. Sanford C. Bernstein reissued a "market perform" rating on shares of Northrop Grumman in a research report on Monday, July 14th. Robert W. Baird lifted their price objective 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. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Northrop Grumman in a report on Tuesday, July 22nd. Barclays lifted 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, JPMorgan Chase & Co. lifted their target price on shares of Northrop Grumman from $480.00 to $585.00 and gave the stock a "neutral" rating in a 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $588.85.

Insider Activity

In other 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 approximately $924,041.79. The trade was a 65.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas H. Jones sold 729 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 transaction of $368,706.33. Following the completion of the transaction, the vice president owned 7,552 shares of the company's stock, valued at $3,819,575.04. The trade was a 8.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,512 shares of company stock worth $7,805,146. 0.23% of the stock is currently owned by corporate insiders.

Northrop Grumman Stock Performance

Northrop Grumman stock traded up $6.24 during midday trading on Wednesday, hitting $577.87. The company's stock had a trading volume of 235,364 shares, compared to its average volume of 959,777. Northrop Grumman Corporation has a 1-year low of $426.24 and a 1-year high of $600.99. 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 $562.79 and a two-hundred day moving average price of $515.58. The company has a market cap of $82.74 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 5.57 and a beta of 0.13.

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 for the quarter, topping the consensus estimate of $6.84 by $0.27. Northrop Grumman had a net margin of 9.74% and a return on equity of 25.52%. The business had revenue of $10.35 billion during the quarter, compared to analysts' expectations of $10.15 billion. During the same quarter in the previous year, the company earned $6.36 EPS. The business's revenue was up 1.3% on a year-over-year basis. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. As a group, sell-side analysts predict that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Announces Dividend

The company also recently announced 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. The ex-dividend date is Tuesday, September 2nd. This represents a $9.24 annualized dividend and a dividend yield of 1.6%. Northrop Grumman's payout ratio is presently 34.06%.

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.