Northrop Grumman Corporation $NOC Position Decreased by Canal Insurance CO

Key Points

• Canal Insurance CO cut its Northrop Grumman stake by 24.9% in the first quarter, selling 10,000 shares and leaving it with 30,093 shares worth about $20.5 million. Northrop Grumman remains Canal Insurance’s fourth-largest holding.
• Northrop Grumman beat quarterly expectations, reporting $6.14 in EPS versus the $6.06 consensus and revenue of $9.88 billion, up 4.4% year over year. The company also reaffirmed FY2026 guidance of 27.4 to 27.9 EPS.
• The company raised its dividend to $2.47 per share from $2.31, which annualizes to $9.88 per share and a 1.8% yield. Analysts currently rate the stock a Moderate Buy with a consensus target price of $683.45.

Canal Insurance CO decreased its holdings in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 24.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,093 shares of the aerospace company's stock after selling 10,000 shares during the quarter. Northrop Grumman comprises about 4.4% of Canal Insurance CO's investment portfolio, making the stock its 4th biggest position. Canal Insurance CO's holdings in Northrop Grumman were worth $20,531,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in NOC. Pictet Asset Management Holding SA increased its position in Northrop Grumman by 7.0% during the first quarter. Pictet Asset Management Holding SA now owns 61,436 shares of the aerospace company's stock worth $41,914,000 after purchasing an additional 4,041 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Northrop Grumman by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 13,740,721 shares of the aerospace company's stock valued at $7,835,097,000 after purchasing an additional 209,135 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in shares of Northrop Grumman by 9.7% in the 4th quarter. New York State Teachers Retirement System now owns 111,927 shares of the aerospace company's stock valued at $63,822,000 after purchasing an additional 9,924 shares during the last quarter. Nordea Investment Management AB purchased a new stake in shares of Northrop Grumman during the 4th quarter valued at $1,987,000. Finally, Geode Capital Management LLC grew its stake in shares of Northrop Grumman by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 3,149,478 shares of the aerospace company's stock valued at $1,793,478,000 after buying an additional 17,948 shares during the period. Hedge funds and other institutional investors own 83.40% of the company's stock.

Northrop Grumman Trading Up 0.4%

NYSE:NOC opened at $541.84 on Tuesday. The stock has a market cap of $76.96 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 3.65 and a beta of -0.10. Northrop Grumman Corporation has a one year low of $493.84 and a one year high of $774.00. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.04 and a current ratio of 1.15. The business's 50-day simple moving average is $540.52 and its 200 day simple moving average is $625.71.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The aerospace company reported $6.14 earnings per share for the quarter, beating analysts' consensus estimates of $6.06 by $0.08. Northrop Grumman had a return on equity of 24.72% and a net margin of 10.80%.The firm had revenue of $9.88 billion during the quarter, compared to analyst estimates of $9.75 billion. During the same quarter last year, the firm earned $6.06 EPS. Northrop Grumman's quarterly revenue was up 4.4% on a year-over-year basis. Northrop Grumman has set its FY 2026 guidance at 27.400-27.900 EPS. As a group, sell-side analysts predict that Northrop Grumman Corporation will post 27.95 earnings per share for the current fiscal year.

Northrop Grumman Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Monday, June 1st were given a dividend of $2.47 per share. The ex-dividend date of this dividend was Monday, June 1st. This is an increase from Northrop Grumman's previous quarterly dividend of $2.31. This represents a $9.88 dividend on an annualized basis and a dividend yield of 1.8%. Northrop Grumman's dividend payout ratio is 30.92%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Morgan Stanley cut their target price on Northrop Grumman from $765.00 to $745.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 22nd. Weiss Ratings downgraded Northrop Grumman from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, June 18th. Wells Fargo & Company restated an "overweight" rating and set a $620.00 price target on shares of Northrop Grumman in a research note on Wednesday, July 8th. TD Cowen cut their price objective on Northrop Grumman from $680.00 to $580.00 and set a "hold" rating on the stock in a report on Monday. Finally, BTIG Research reaffirmed a "buy" rating and issued a $815.00 price objective on shares of Northrop Grumman in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Northrop Grumman currently has an average rating of "Moderate Buy" and a consensus target price of $683.45.

Northrop Grumman Company Profile

Northrop Grumman Corporation NYSE: NOC is a leading U.S.-based aerospace and defense company that designs, builds and sustains advanced systems, products and technologies for government and commercial customers. Formed through the combination of Northrop and Grumman businesses in the 1990s, the company's portfolio spans manned and unmanned aircraft, space systems, missile defense, radar and sensor systems, and integrated command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) solutions.

The company's work includes airframe and platform manufacturing, space hardware and satellite systems, advanced mission systems and cybersecurity services, as well as logistics, sustainment and modernization programs.

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