Northrop Grumman Corporation $NOC Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in Northrop Grumman Corporation by 73.5%, selling 59,085 shares and now holding 21,313 shares worth $10.73 million.
• Northrop Grumman reported $7.11 EPS for Q2, surpassing analysts' expectations, with revenue of $10.35 billion, up 1.3% from the previous year.
• The company declared a quarterly dividend of $2.31 per share, representing an annualized yield of 1.6% and a payout ratio of 34.06%.

Allspring Global Investments Holdings LLC reduced its stake in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 73.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,313 shares of the aerospace company's stock after selling 59,085 shares during the period. Allspring Global Investments Holdings LLC's holdings in Northrop Grumman were worth $10,732,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. IMA Advisory Services Inc. purchased a new stake in shares of Northrop Grumman during the 1st quarter worth $27,000. Saudi Central Bank purchased a new stake in shares of Northrop Grumman during the 1st quarter worth $28,000. Banque Cantonale Vaudoise acquired a new position in shares of Northrop Grumman during the 1st quarter worth $30,000. Flaharty Asset Management LLC acquired a new position in shares of Northrop Grumman during the 1st quarter worth $36,000. Finally, Hollencrest Capital Management raised its stake in shares of Northrop Grumman by 790.0% during the 1st quarter. Hollencrest Capital Management now owns 89 shares of the aerospace company's stock worth $45,000 after buying an additional 79 shares during the last quarter. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Trading Down 0.8%

NYSE NOC opened at $594.15 on Friday. Northrop Grumman Corporation has a 12 month low of $426.24 and a 12 month high of $640.90. The company has a 50-day moving average of $592.48 and a 200-day moving average of $537.20. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The company has a market cap of $85.07 billion, a P/E ratio of 21.90, a P/E/G ratio of 5.78 and a beta of 0.10.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $10.15 billion. During the same quarter in the prior year, the company posted $6.36 EPS. 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. As a group, equities analysts predict that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $2.31 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.6%. Northrop Grumman's dividend payout ratio is currently 34.06%.

Wall Street Analyst Weigh In

NOC has been the subject of several research reports. Bank of America lifted their price target on Northrop Grumman from $550.00 to $650.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Barclays lifted their price target on Northrop Grumman from $500.00 to $580.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Northrop Grumman in a research note on Monday, July 14th. Wells Fargo & Company reissued an "overweight" rating on shares of Northrop Grumman in a research note on Tuesday, July 22nd. Finally, Truist Financial boosted their target price on shares of Northrop Grumman from $625.00 to $688.00 and gave the company a "buy" rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $613.15.

About Northrop Grumman

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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