Northern Trust Corp Trims Holdings in Northrop Grumman Corporation $NOC

Key Points

• Northern Trust Corp has reduced its stake in Northrop Grumman Corporation by 4.4%, now holding 1,195,441 shares valued at approximately $612 million.
• Analysts have set varied target prices for Northrop Grumman, with a consensus price target of $586.79 and a "Moderate Buy" rating.
• Recent insider trading includes CEO Kathy J. Warden selling 7,500 shares for about $3.79 million, indicating a decrease in personal stake in the company.

Northern Trust Corp reduced its position in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 4.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,195,441 shares of the aerospace company's stock after selling 55,609 shares during the quarter. Northern Trust Corp owned 0.83% of Northrop Grumman worth $612,078,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Brookstone Capital Management grew its stake in shares of Northrop Grumman by 121.0% during the 1st quarter. Brookstone Capital Management now owns 6,640 shares of the aerospace company's stock valued at $3,400,000 after purchasing an additional 3,635 shares during the period. GAM Holding AG grew its stake in shares of Northrop Grumman by 51.9% during the 1st quarter. GAM Holding AG now owns 2,338 shares of the aerospace company's stock valued at $1,197,000 after acquiring an additional 799 shares during the period. Janney Montgomery Scott LLC bought a new position in shares of Northrop Grumman during the 1st quarter valued at approximately $33,090,000. Golden State Wealth Management LLC grew its stake in shares of Northrop Grumman by 206.2% during the 1st quarter. Golden State Wealth Management LLC now owns 2,771 shares of the aerospace company's stock valued at $1,421,000 after acquiring an additional 1,866 shares during the period. Finally, Bessemer Group Inc. grew its stake in shares of Northrop Grumman by 18.8% during the 1st quarter. Bessemer Group Inc. now owns 795,839 shares of the aerospace company's stock valued at $407,477,000 after acquiring an additional 125,693 shares during the period. 83.40% of the stock is currently owned by institutional investors.

Insider Transactions at Northrop Grumman

In related news, VP Thomas H. Jones sold 729 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $505.77, for a total transaction of $368,706.33. Following the sale, the vice president owned 7,552 shares in the company, valued at approximately $3,819,575.04. This represents a 8.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Roshan S. Roeder sold 991 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $490.00, for a total value of $485,590.00. Following the sale, the vice president owned 319 shares in the company, valued at $156,310. The trade was a 75.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,536 shares of company stock valued at $8,306,857 over the last 90 days. Insiders own 0.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NOC shares. Susquehanna boosted their price objective on Northrop Grumman from $557.00 to $650.00 and gave the company a "positive" rating in a research note on Tuesday, July 22nd. Sanford C. Bernstein reiterated a "market perform" rating on shares of Northrop Grumman in a research note on Monday, July 14th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $542.00 price objective (down from $580.00) on shares of Northrop Grumman in a research note on Tuesday, July 8th. Royal Bank Of Canada boosted their price objective on Northrop Grumman from $600.00 to $625.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Finally, Barclays upped their price target 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. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $586.79.

Northrop Grumman Price Performance

NOC stock traded down $5.2310 during midday trading on Friday, hitting $591.9790. The company's stock had a trading volume of 616,625 shares, compared to its average volume of 736,066. Northrop Grumman Corporation has a 12 month low of $426.24 and a 12 month 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. The firm has a market capitalization of $84.76 billion, a price-to-earnings ratio of 21.82, a price-to-earnings-growth ratio of 5.72 and a beta of 0.15. The company has a 50 day moving average of $541.47 and a two-hundred day moving average of $504.45.

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 (EPS) for the quarter, topping the consensus estimate of $6.84 by $0.27. The business had revenue of $10.35 billion for 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 company's revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $6.36 EPS. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. On average, analysts expect that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $2.31 per share. This represents a $9.24 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Northrop Grumman's dividend payout ratio is 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.