Northrop Grumman Corporation $NOC Shares Purchased by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management increased its Northrop Grumman stake by 7% in the first quarter, bringing its holdings to 61,436 shares valued at about $41.9 million.
• Other institutional investors also adjusted their positions, and hedge funds and institutions now own 83.4% of Northrop Grumman’s shares, showing continued institutional interest in the stock.
• Northrop Grumman reported better-than-expected quarterly earnings and raised its quarterly dividend to $2.47 per share, while analysts currently rate the stock a consensus “Moderate Buy” with a target price of $700.53.

Pictet Asset Management Holding SA raised its stake in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 7.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,436 shares of the aerospace company's stock after buying an additional 4,041 shares during the quarter. Pictet Asset Management Holding SA's holdings in Northrop Grumman were worth $41,914,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Northrop Grumman by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 13,740,721 shares of the aerospace company's stock worth $7,835,097,000 after buying an additional 209,135 shares during the period. New York State Teachers Retirement System raised 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 buying an additional 9,924 shares during the period. Nordea Investment Management AB acquired a new position in Northrop Grumman during the 4th quarter worth about $1,987,000. Geode Capital Management LLC lifted its stake in 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 worth $1,793,478,000 after acquiring an additional 17,948 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Northrop Grumman by 1.3% during the 4th quarter. Principal Financial Group Inc. now owns 158,958 shares of the aerospace company's stock valued at $90,639,000 after acquiring an additional 2,025 shares during the period. Hedge funds and other institutional investors own 83.40% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NOC. Citigroup dropped their target price on Northrop Grumman from $742.00 to $628.00 and set a "buy" rating for the company in a research report on Monday, May 18th. Wall Street Zen lowered shares of Northrop Grumman from a "strong-buy" rating to a "hold" rating in a research note on Saturday, April 25th. BTIG Research restated a "buy" rating and issued a $815.00 price objective on shares of Northrop Grumman in a report on Wednesday, April 22nd. Wells Fargo & Company began coverage on shares of Northrop Grumman in a research note on Wednesday, April 1st. They set an "overweight" rating and a $800.00 target price on the stock. Finally, UBS Group decreased their price target on shares of Northrop Grumman from $806.00 to $745.00 and set a "buy" rating for the company in a research report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $700.53.

Northrop Grumman Stock Up 2.6%

Shares of Northrop Grumman stock opened at $508.69 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.15 and a debt-to-equity ratio of 0.84. Northrop Grumman Corporation has a 52-week low of $489.52 and a 52-week high of $774.00. The company has a market capitalization of $72.25 billion, a P/E ratio of 15.92, a P/E/G ratio of 3.38 and a beta of -0.12. The company has a 50 day moving average of $549.66 and a 200 day moving average of $627.55.

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

Northrop Grumman Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Monday, June 1st were issued a $2.47 dividend. This represents a $9.88 annualized dividend and a yield of 1.9%. This is a boost from Northrop Grumman's previous quarterly dividend of $2.31. The ex-dividend date of this dividend was Monday, June 1st. Northrop Grumman's dividend payout ratio is currently 30.92%.

About Northrop Grumman

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.