Northrop Grumman Corporation $NOC Shares Acquired by Ascent Group LLC

Key Points

• Ascent Group LLC increased its holdings in Northrop Grumman Corporation by 13.4%, acquiring 692 additional shares for a total investment valued at $2,930,000 as of the latest SEC filing.
• Northrop Grumman reported a quarterly earnings per share of $7.11, exceeding analysts' expectations, with revenues reaching $10.35 billion.
• The company declared a quarterly dividend of $2.31 per share, representing an annual yield of 1.5% with a payout ratio of 34.06%.

Ascent Group LLC increased its position in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 13.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,860 shares of the aerospace company's stock after buying an additional 692 shares during the period. Ascent Group LLC's holdings in Northrop Grumman were worth $2,930,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in Northrop Grumman by 13.3% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,655 shares of the aerospace company's stock worth $1,328,000 after purchasing an additional 312 shares during the last quarter. River Street Advisors LLC increased its position in Northrop Grumman by 7.0% during the second quarter. River Street Advisors LLC now owns 3,384 shares of the aerospace company's stock worth $1,692,000 after purchasing an additional 220 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Northrop Grumman by 10.2% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,674 shares of the aerospace company's stock worth $9,837,000 after purchasing an additional 1,824 shares during the last quarter. Syntax Research Inc. acquired a new position in Northrop Grumman during the second quarter worth approximately $1,500,000. Finally, Cornell Pochily Investment Advisors Inc. increased its position in Northrop Grumman by 2.3% during the second quarter. Cornell Pochily Investment Advisors Inc. now owns 2,151 shares of the aerospace company's stock worth $1,076,000 after purchasing an additional 49 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company's stock.

Northrop Grumman Price Performance

NOC opened at $610.32 on Friday. The company has a fifty day simple moving average of $585.11 and a 200 day simple moving average of $529.33. The firm has a market cap of $87.39 billion, a price-to-earnings ratio of 22.50, a PEG ratio of 5.84 and a beta of 0.10. Northrop Grumman Corporation has a twelve month low of $426.24 and a twelve month high of $610.85. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

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 during the quarter, compared to analyst estimates of $10.15 billion. Northrop Grumman had a net margin of 9.74% and a return on equity of 25.52%. The business's revenue was up 1.3% on a year-over-year basis. During the same period last year, the business earned $6.36 EPS. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. Equities research analysts expect that Northrop Grumman Corporation will post 28.05 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Tuesday, September 2nd were issued a dividend of $2.31 per share. This represents a $9.24 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. Northrop Grumman's dividend payout ratio (DPR) is presently 34.06%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Northrop Grumman in a research report on Tuesday, July 22nd. Wall Street Zen raised shares of Northrop Grumman from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. Robert W. Baird increased their price objective on shares of Northrop Grumman from $547.00 to $565.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Weiss Ratings reissued a "buy (b)" rating on shares of Northrop Grumman in a research report on Saturday, September 27th. Finally, Bank of America increased their price objective on shares of Northrop Grumman from $550.00 to $650.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $588.85.

Northrop Grumman 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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