Fortis Capital Advisors LLC Lowers Stock Holdings in Northrop Grumman Corporation $NOC

Key Points

• Fortis Capital Advisors LLC reduced its stake in Northrop Grumman by 61.4%, now holding 2,062 shares worth approximately $1,056,000.
• Despite this reduction, several other institutional investors, such as Brookstone Capital Management and Golden State Wealth Management, increased their holdings significantly, indicating strong interest in the stock.
• Northrop Grumman reported a quarterly earnings per share of $7.11, exceeding estimates, alongside revenue of $10.35 billion for the quarter.

Fortis Capital Advisors LLC reduced its stake in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 61.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,062 shares of the aerospace company's stock after selling 3,279 shares during the period. Fortis Capital Advisors LLC's holdings in Northrop Grumman were worth $1,056,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NOC. IMA Advisory Services Inc. acquired a new stake in Northrop Grumman in the first quarter valued at $27,000. Saudi Central Bank acquired a new stake in Northrop Grumman in the first quarter valued at $28,000. Banque Cantonale Vaudoise acquired a new stake in Northrop Grumman in the first quarter valued at $30,000. Wood Tarver Financial Group LLC acquired a new stake in Northrop Grumman in the fourth quarter valued at $32,000. Finally, Flaharty Asset Management LLC acquired a new stake in Northrop Grumman in the first quarter valued at $36,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Northrop Grumman Stock Performance

Shares of NOC stock traded down $7.04 during mid-day trading on Friday, hitting $575.91. 717,854 shares of the stock were exchanged, compared to its average volume of 602,484. 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 Corporation has a 12-month low of $426.24 and a 12-month high of $600.99. The stock's fifty day simple moving average is $567.43 and its two-hundred day simple moving average is $517.73. The stock has a market capitalization of $82.46 billion, a price-to-earnings ratio of 21.23, a P/E/G ratio of 5.58 and a beta of 0.13.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.84 by $0.27. Northrop Grumman had a return on equity of 25.52% and a net margin of 9.74%.The firm had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.15 billion. During the same quarter last year, the company posted $6.36 earnings per share. 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. On average, analysts forecast that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Dividend Announcement

The business 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 dividend of $2.31 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.6%. Northrop Grumman's dividend payout ratio (DPR) is currently 34.06%.

Wall Street Analysts Forecast Growth

NOC has been the topic of a number of analyst reports. Royal Bank Of Canada raised their price target on Northrop Grumman from $600.00 to $625.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Robert W. Baird raised their price target on Northrop Grumman from $547.00 to $565.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Susquehanna raised their price target on Northrop Grumman from $557.00 to $650.00 and gave the company a "positive" rating in a research note on Tuesday, July 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $542.00 price objective (down previously from $580.00) on shares of Northrop Grumman in a report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. raised their price objective on Northrop Grumman from $480.00 to $585.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $588.85.

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.