Northrop Grumman Corporation $NOC Shares Sold by Empire Life Investments Inc.

Key Points

• Empire Life Investments cut its Northrop Grumman stake by 6.3% in the fourth quarter, selling 3,644 shares and leaving it with 54,331 shares valued at about $30.98 million.
• Northrop Grumman reported better-than-expected quarterly results, posting EPS of $6.14 versus estimates of $6.06 and revenue of $9.88 billion versus expectations of $9.75 billion, with revenue up 4.4% year over year.
• Despite some insider selling and mixed analyst moves, Wall Street still sees the stock favorably overall, with a Moderate Buy consensus and an average price target of $710.74.

Empire Life Investments Inc. trimmed its position in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 6.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,331 shares of the aerospace company's stock after selling 3,644 shares during the quarter. Northrop Grumman comprises 1.7% of Empire Life Investments Inc.'s holdings, making the stock its 15th largest position. Empire Life Investments Inc.'s holdings in Northrop Grumman were worth $30,980,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of NOC. Provident Investment Management Inc. raised its stake in shares of Northrop Grumman by 1.7% during the 4th quarter. Provident Investment Management Inc. now owns 2,199 shares of the aerospace company's stock valued at $1,254,000 after buying an additional 37 shares during the last quarter. Glass Wealth Management Co LLC lifted its holdings in Northrop Grumman by 2.7% in the fourth quarter. Glass Wealth Management Co LLC now owns 9,122 shares of the aerospace company's stock valued at $5,201,000 after acquiring an additional 243 shares during the period. Meridian Wealth Management LLC boosted its position in Northrop Grumman by 6.0% in the 4th quarter. Meridian Wealth Management LLC now owns 8,476 shares of the aerospace company's stock worth $4,833,000 after purchasing an additional 478 shares in the last quarter. Versor Investments LP purchased a new position in shares of Northrop Grumman during the 4th quarter valued at approximately $620,000. Finally, Money Concepts Capital Corp increased its holdings in shares of Northrop Grumman by 17.6% during the 4th quarter. Money Concepts Capital Corp now owns 3,024 shares of the aerospace company's stock valued at $1,724,000 after purchasing an additional 452 shares in the last quarter. Hedge funds and other institutional investors own 83.40% of the company's stock.

Northrop Grumman Stock Up 1.8%

Shares of NYSE NOC opened at $558.20 on Wednesday. The stock has a market cap of $79.28 billion, a PE ratio of 17.47, a P/E/G ratio of 3.74 and a beta of -0.11. The company has a current ratio of 1.15, a quick ratio of 1.04 and a debt-to-equity ratio of 0.84. Northrop Grumman Corporation has a 12-month low of $453.01 and a 12-month high of $774.00. The company has a 50-day moving average of $668.42 and a 200 day moving average of $635.04.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued its earnings results on Tuesday, April 21st. The aerospace company reported $6.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.06 by $0.08. The company had revenue of $9.88 billion during the quarter, compared to analysts' expectations of $9.75 billion. Northrop Grumman had a return on equity of 24.72% and a net margin of 10.80%.The firm's quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the business earned $6.06 EPS. Northrop Grumman has set its FY 2026 guidance at 27.400-27.900 EPS. As a group, sell-side analysts predict that Northrop Grumman Corporation will post 27.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other Northrop Grumman news, VP Benjamin R. Davies sold 2,189 shares of the company's stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $719.61, for a total value of $1,575,226.29. Following the transaction, the vice president owned 151 shares of the company's stock, valued at $108,661.11. This represents a 93.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Michael A. Hardesty sold 147 shares of the stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $732.98, for a total transaction of $107,748.06. Following the transaction, the chief accounting officer directly owned 2,525 shares of the company's stock, valued at approximately $1,850,774.50. This trade represents a 5.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on NOC shares. Royal Bank Of Canada increased their price target on shares of Northrop Grumman from $715.00 to $750.00 and gave the stock an "outperform" rating in a report on Wednesday, January 28th. Jefferies Financial Group set a $660.00 target price on shares of Northrop Grumman in a research note on Sunday, April 26th. UBS Group dropped their target price on Northrop Grumman from $806.00 to $745.00 and set a "buy" rating on the stock in a research report on Thursday, April 23rd. Citigroup cut their price target on Northrop Grumman from $807.00 to $742.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Finally, TD Cowen reiterated a "hold" rating on shares of Northrop Grumman in a research report on Wednesday, January 28th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, Northrop Grumman has a consensus rating of "Moderate Buy" and an average price target of $710.74.

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.

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