Mirae Asset Global Investments Co. Ltd. Acquires 1,824 Shares of Northrop Grumman Corporation $NOC

Key Points

• Mirae Asset Global Investments has increased its stake in Northrop Grumman by 10.2%, acquiring an additional 1,824 shares, bringing its total holdings to 19,674 shares valued at approximately $9.8 million.
• Northrop Grumman reported earnings per share (EPS) of $7.11 for the latest quarter, exceeding analysts' expectations by $0.27, with revenues also surpassing estimates.
• The company's stock has received mostly positive ratings from analysts, with a consensus rating of "Moderate Buy" and an average target price of $588.85.

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 10.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,674 shares of the aerospace company's stock after purchasing an additional 1,824 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Northrop Grumman were worth $9,837,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC increased its position in shares of Northrop Grumman by 176.3% in the fourth quarter. Brighton Jones LLC now owns 2,970 shares of the aerospace company's stock worth $1,394,000 after purchasing an additional 1,895 shares during the period. Bison Wealth LLC increased its holdings in Northrop Grumman by 5.3% in the 4th quarter. Bison Wealth LLC now owns 641 shares of the aerospace company's stock valued at $301,000 after buying an additional 32 shares during the period. RFG Advisory LLC bought a new position in Northrop Grumman in the 1st quarter valued at about $294,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Northrop Grumman by 29.3% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 106 shares of the aerospace company's stock valued at $54,000 after buying an additional 24 shares in the last quarter. Finally, Vest Financial LLC acquired a new stake in shares of Northrop Grumman during the 1st quarter worth approximately $222,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NOC shares. Barclays upped their target price on Northrop Grumman from $500.00 to $580.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. Weiss Ratings restated a "buy (b)" rating on shares of Northrop Grumman in a research report on Saturday, September 27th. Bank of America lifted their target price on Northrop Grumman from $550.00 to $650.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company reissued an "overweight" rating on shares of Northrop Grumman in a report on Tuesday, July 22nd. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Northrop Grumman in a report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $588.85.

Northrop Grumman Stock Up 0.9%

NYSE:NOC opened at $610.32 on Monday. Northrop Grumman Corporation has a one year low of $426.24 and a one year high of $610.85. 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 market cap of $87.39 billion, a PE ratio of 22.50, a P/E/G ratio of 5.84 and a beta of 0.10. The firm's 50 day simple moving average is $585.11 and its 200 day simple moving average is $529.61.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $10.35 billion during the quarter, compared to analysts' expectations of $10.15 billion. During the same period in the prior year, the company posted $6.36 EPS. The company'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. On average, research analysts anticipate that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Announces Dividend

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. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, September 2nd. Northrop Grumman's dividend payout ratio (DPR) is 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.

Want to see what other hedge funds are holding NOC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northrop Grumman Corporation (NYSE:NOC - Free Report).

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.