Northrop Grumman Corporation $NOC Position Reduced by Legal Advantage Investments Inc.

Key Points

• Legal Advantage Investments Inc. reduced its stake in Northrop Grumman by 6.8%, now holding 6,191 shares worth approximately $3.1 million.
• Northrop Grumman reported earnings of $7.11 EPS, surpassing expectations, with quarterly revenue of $10.35 billion reflecting a year-over-year increase of 1.3%.
• The company declared a quarterly dividend of $2.31, leading to an annualized yield of 1.5% and a payout ratio of 34.06%.

Legal Advantage Investments Inc. cut its position in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 6.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,191 shares of the aerospace company's stock after selling 450 shares during the quarter. Northrop Grumman accounts for 1.4% of Legal Advantage Investments Inc.'s portfolio, making the stock its 28th largest position. Legal Advantage Investments Inc.'s holdings in Northrop Grumman were worth $3,095,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of NOC. Wellington Management Group LLP lifted its stake in Northrop Grumman by 23.4% during the first quarter. Wellington Management Group LLP now owns 5,139,333 shares of the aerospace company's stock valued at $2,631,390,000 after buying an additional 974,633 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Northrop Grumman by 1,425.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,001,198 shares of the aerospace company's stock valued at $512,624,000 after purchasing an additional 935,554 shares during the period. Nuveen LLC acquired a new position in shares of Northrop Grumman in the 1st quarter valued at about $369,205,000. Vanguard Group Inc. increased its holdings in shares of Northrop Grumman by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 13,266,301 shares of the aerospace company's stock valued at $6,792,479,000 after purchasing an additional 588,520 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of Northrop Grumman by 98.8% in the 1st quarter. AQR Capital Management LLC now owns 899,114 shares of the aerospace company's stock valued at $460,355,000 after purchasing an additional 446,940 shares during the period. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Trading Down 1.8%

NYSE:NOC opened at $623.51 on Friday. Northrop Grumman Corporation has a 12 month low of $426.24 and a 12 month high of $640.90. The firm has a market cap of $89.28 billion, a price-to-earnings ratio of 22.98, a P/E/G ratio of 5.97 and a beta of 0.10. 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's 50 day moving average is $590.32 and its 200-day moving average is $533.84.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 EPS for the quarter, beating analysts' consensus estimates of $6.84 by $0.27. Northrop Grumman had a net margin of 9.74% and a return on equity of 25.52%. The company had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.15 billion. During the same quarter last year, the firm posted $6.36 earnings per share. The company's quarterly revenue was up 1.3% compared to the same quarter last year. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. Equities analysts anticipate that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd were given a $2.31 dividend. This represents a $9.24 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. Northrop Grumman's dividend payout ratio is currently 34.06%.

Analyst Ratings Changes

NOC has been the topic of a number of research reports. Robert W. Baird upped their target price on Northrop Grumman from $547.00 to $565.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Truist Financial reiterated a "buy" rating and issued a $625.00 target price (up previously from $550.00) on shares of Northrop Grumman in a report on Wednesday, July 23rd. Bank of America upped their target price on Northrop Grumman from $550.00 to $650.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada increased their price objective on Northrop Grumman from $600.00 to $625.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Finally, Sanford C. Bernstein restated a "market perform" rating on shares of Northrop Grumman in a report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $601.00.

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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