Northrop Grumman Corporation $NOC Shares Bought by First United Bank & Trust

Key Points

• First United Bank & Trust significantly increased its holdings in Northrop Grumman by 641% during Q2, now owning 778 shares valued at approximately $389,000.
• Several analysts have raised their price targets for Northrop Grumman, with Bank of America and Susquehanna both setting targets at $650, reflecting confidence in the company's growth potential.
• Northrop Grumman reported $7.11 earnings per share for the last quarter, exceeding analyst expectations and showcasing a 1.3% increase in revenue year-over-year.

First United Bank & Trust boosted its holdings in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 641.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 778 shares of the aerospace company's stock after buying an additional 673 shares during the quarter. First United Bank & Trust's holdings in Northrop Grumman were worth $389,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Brookstone Capital Management increased its stake in Northrop Grumman by 121.0% in the 1st quarter. Brookstone Capital Management now owns 6,640 shares of the aerospace company's stock worth $3,400,000 after purchasing an additional 3,635 shares in the last quarter. GAM Holding AG grew its position in Northrop Grumman by 51.9% in the first quarter. GAM Holding AG now owns 2,338 shares of the aerospace company's stock worth $1,197,000 after acquiring an additional 799 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Northrop Grumman during the 1st quarter worth about $33,090,000. Golden State Wealth Management LLC boosted its position in Northrop Grumman by 206.2% during the first quarter. Golden State Wealth Management LLC now owns 2,771 shares of the aerospace company's stock worth $1,421,000 after purchasing an additional 1,866 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in shares of Northrop Grumman by 18.8% during the 1st quarter. Bessemer Group Inc. now owns 795,839 shares of the aerospace company's stock worth $407,477,000 after buying an additional 125,693 shares during the period. Institutional investors and hedge funds own 83.40% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barclays increased their price objective on Northrop Grumman from $500.00 to $580.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Wells Fargo & Company reiterated an "overweight" rating on shares of Northrop Grumman in a research note on Tuesday, July 22nd. Bank of America lifted their price target on Northrop Grumman from $550.00 to $650.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Sanford C. Bernstein restated a "market perform" rating on shares of Northrop Grumman in a research report on Monday, July 14th. Finally, Susquehanna upped 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. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $588.85.

Northrop Grumman Price Performance

NOC stock opened at $593.43 on Tuesday. The company has a market capitalization of $84.97 billion, a P/E ratio of 21.87, a PEG ratio of 5.69 and a beta of 0.13. 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 52-week low of $426.24 and a 52-week high of $604.13. The company has a fifty day moving average price of $581.88 and a 200-day moving average price of $526.33.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.15 billion. During the same period last year, the company earned $6.36 earnings per share. The firm's 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. As a group, equities analysts expect that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Tuesday, September 2nd were given a $2.31 dividend. This represents a $9.24 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, September 2nd. Northrop Grumman's payout ratio is presently 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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