Northrop Grumman Corporation $NOC Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon cut its Northrop Grumman stake by 31.3% in the first quarter, selling 360,995 shares and leaving it with 791,170 shares valued at about $539.8 million.
• Northrop Grumman beat quarterly expectations, reporting $6.14 EPS on $9.88 billion in revenue, and also raised its quarterly dividend to $2.47 per share.
• Wall Street sentiment remains mixed but constructive, with the stock carrying a Moderate Buy consensus and an average price target of $676.29, though some firms have recently trimmed targets and ratings.

Bank of New York Mellon Corp decreased its stake in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 31.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 791,170 shares of the aerospace company's stock after selling 360,995 shares during the period. Bank of New York Mellon Corp owned approximately 0.56% of Northrop Grumman worth $539,768,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of NOC. Pictet Asset Management Holding SA lifted its position in shares of Northrop Grumman by 7.0% during the first quarter. Pictet Asset Management Holding SA now owns 61,436 shares of the aerospace company's stock worth $41,914,000 after purchasing an additional 4,041 shares in the last quarter. Vanguard Group Inc. grew its holdings in Northrop Grumman by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 13,740,721 shares of the aerospace company's stock valued at $7,835,097,000 after purchasing an additional 209,135 shares in the last quarter. New York State Teachers Retirement System grew its holdings in Northrop Grumman by 9.7% during 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 purchasing an additional 9,924 shares in the last quarter. Nordea Investment Management AB purchased a new stake in Northrop Grumman during the 4th quarter worth $1,987,000. Finally, Geode Capital Management LLC increased 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 buying an additional 17,948 shares during the period. Institutional investors and hedge funds own 83.40% of the company's stock.

Northrop Grumman Price Performance

NOC opened at $518.19 on Friday. The company has a 50-day moving average of $538.60 and a 200-day moving average of $624.52. The company has a market capitalization of $73.60 billion, a P/E ratio of 16.22, a PEG ratio of 3.55 and a beta of -0.10. Northrop Grumman Corporation has a 1-year low of $493.84 and a 1-year high of $774.00. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.04 and a current ratio of 1.15.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 21st. The aerospace company reported $6.14 EPS for the quarter, topping the consensus estimate of $6.06 by $0.08. The business had revenue of $9.88 billion for the quarter, compared to analysts' expectations of $9.75 billion. Northrop Grumman had a net margin of 10.80% and a return on equity of 24.72%. The company's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the company posted $6.06 earnings per share. Northrop Grumman has set its FY 2026 guidance at 27.400-27.900 EPS. Equities analysts expect that Northrop Grumman Corporation will post 27.95 EPS for the current fiscal year.

Northrop Grumman Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Weiss Ratings lowered shares of Northrop Grumman from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday. The Goldman Sachs Group lowered their target price on Northrop Grumman from $603.00 to $533.00 and set a "neutral" rating for the company in a research note on Tuesday. Jefferies Financial Group cut their price target on Northrop Grumman from $620.00 to $580.00 and set a "hold" rating on the stock in a research note on Friday, June 26th. Wells Fargo & Company reissued an "overweight" rating and issued a $620.00 price target on shares of Northrop Grumman in a report on Wednesday, July 8th. Finally, Wall Street Zen lowered Northrop Grumman from a "strong-buy" rating to a "hold" rating in a research note on Saturday, April 25th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, Northrop Grumman presently has an average rating of "Moderate Buy" and a consensus price target of $676.29.

Key Stories Impacting Northrop Grumman

Here are the key news stories impacting Northrop Grumman this week:

• Positive Sentiment: Analysts and market commentary continue to highlight Northrop Grumman’s strong defense backlog and long-term demand outlook, which supports revenue visibility and could help offset near-term volatility. Northrop Grumman to Post Q2 Earnings: Here's What to Expect
• Positive Sentiment: Morgan Stanley reportedly named Northrop Grumman one of its top defense stocks, reinforcing the view that the company remains a favored name in the sector. Morgan Stanley Picks Its Top Three Defense Stocks. One Has 100% Upside.
• Neutral Sentiment: Multiple preview pieces are focusing on key Q2 operating metrics, suggesting the stock may react to details on execution, cash flow, and contract performance rather than just headline EPS and revenue. Wall Street's Insights Into Key Metrics Ahead of Northrop Grumman (NOC) Q2 Earnings
• Neutral Sentiment: Northrop’s Sentinel program remains a key watch item, with investors waiting to see whether job expansion and program updates point to stronger execution or added cost pressure. Northrop Grumman Planning To Add Hundreds Of Jobs For Sentinel
• Negative Sentiment: Some analysts have trimmed price targets and lowered fair value estimates, signaling more caution about near-term upside and execution risk. Northrop Grumman (NOC) Stock Fair Value Edges Lower As Analysts Trim Targets

Northrop Grumman Company Profile

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.

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