Northrop Grumman Corporation $NOC Position Increased by SteelPeak Wealth LLC

Key Points

• SteelPeak Wealth LLC significantly increased its stake in Northrop Grumman by 184.5% in Q2, acquiring an additional 5,075 shares, bringing its total holdings to 7,825 shares worth approximately $3.91 million.
• Multiple analysts have upgraded their price targets for Northrop Grumman, with Barclays raising it from $500 to $580 and Royal Bank of Canada increasing it from $600 to $625, reflecting growing optimism about the stock's performance.
• Northrop Grumman recently reported earnings of $7.11 per share, surpassing estimates, and announced a quarterly dividend of $2.31 per share with a yield of 1.5%.

SteelPeak Wealth LLC raised its holdings in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 184.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,825 shares of the aerospace company's stock after buying an additional 5,075 shares during the period. SteelPeak Wealth LLC's holdings in Northrop Grumman were worth $3,912,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Redhawk Wealth Advisors Inc. lifted its position in shares of Northrop Grumman by 3.0% in the 1st quarter. Redhawk Wealth Advisors Inc. now owns 644 shares of the aerospace company's stock valued at $330,000 after acquiring an additional 19 shares in the last quarter. Capital Investment Advisors LLC lifted its position in shares of Northrop Grumman by 1.0% in the 2nd quarter. Capital Investment Advisors LLC now owns 2,049 shares of the aerospace company's stock valued at $1,025,000 after acquiring an additional 20 shares in the last quarter. IAG Wealth Partners LLC lifted its position in shares of Northrop Grumman by 8.4% in the 1st quarter. IAG Wealth Partners LLC now owns 271 shares of the aerospace company's stock valued at $139,000 after acquiring an additional 21 shares in the last quarter. Integrated Investment Consultants LLC lifted its position in shares of Northrop Grumman by 3.9% in the 1st quarter. Integrated Investment Consultants LLC now owns 553 shares of the aerospace company's stock valued at $283,000 after acquiring an additional 21 shares in the last quarter. Finally, Ameriflex Group Inc. lifted its position in shares of Northrop Grumman by 3.6% in the 2nd quarter. Ameriflex Group Inc. now owns 611 shares of the aerospace company's stock valued at $301,000 after acquiring an additional 21 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on NOC shares. Barclays upped their price target on shares of Northrop Grumman from $500.00 to $580.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $542.00 price target (down previously from $580.00) on shares of Northrop Grumman in a research report on Tuesday, July 8th. Wells Fargo & Company restated an "overweight" rating on shares of Northrop Grumman in a research report on Tuesday, July 22nd. Royal Bank Of Canada increased their target price on shares of Northrop Grumman from $600.00 to $625.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Finally, Sanford C. Bernstein reiterated a "market perform" rating on shares of Northrop Grumman in a research 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 assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $588.85.

Northrop Grumman Stock Up 1.6%

NOC stock opened at $619.40 on Tuesday. Northrop Grumman Corporation has a 12-month low of $426.24 and a 12-month high of $619.71. 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 company has a market cap of $88.69 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 5.84 and a beta of 0.10. The company has a 50 day moving average of $586.12 and a two-hundred day moving average of $530.50.

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 for the quarter, beating analysts' consensus estimates of $6.84 by $0.27. The business had revenue of $10.35 billion for the quarter, compared to the consensus estimate of $10.15 billion. Northrop Grumman had a net margin of 9.74% and a return on equity of 25.52%. Northrop Grumman's revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $6.36 EPS. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. On average, equities analysts anticipate that Northrop Grumman Corporation will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd were issued a dividend of $2.31 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.5%. Northrop Grumman's dividend payout ratio (DPR) is currently 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.

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