Northrop Grumman Corporation $NOC Shares Sold by Jennison Associates LLC

Key Points

• Jennison Associates LLC cut its Northrop Grumman stake by 16.6% in the first quarter, selling 66,599 shares and leaving it with 335,065 shares worth about $228.6 million.
• Northrop Grumman is benefiting from a broader defense-sector rally tied to expectations for higher U.S. military spending, while investors are also watching upcoming Q2 earnings on July 21 for signs of backlog and contract strength.
• The company recently raised its quarterly dividend to $2.47 per share, and analysts remain cautiously positive overall with a Moderate Buy consensus despite some target-price cuts and mixed commentary.

Jennison Associates LLC decreased its holdings in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 16.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 335,065 shares of the aerospace company's stock after selling 66,599 shares during the period. Jennison Associates LLC owned approximately 0.24% of Northrop Grumman worth $228,595,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Torren Management LLC bought a new stake in shares of Northrop Grumman in the 4th quarter worth approximately $26,000. Karpus Management Inc. bought a new stake in Northrop Grumman during the fourth quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in Northrop Grumman during the fourth quarter worth approximately $29,000. Financial Life Planners acquired a new position in Northrop Grumman in the first quarter worth approximately $30,000. Finally, Motiv8 Investments LLC acquired a new position in Northrop Grumman in the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 83.40% of the company's stock.

Key Headlines Impacting Northrop Grumman

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

• Positive Sentiment: Defense stocks are benefiting from a broader sector rally as investors respond to expectations for stronger U.S. military spending, including a proposed $1.5 trillion defense budget backdrop. Northrop Grumman rises as defense-spending tailwinds and program momentum lift sentiment
• Positive Sentiment: Investor attention is building ahead of Northrop Grumman’s July 21 Q2 results, with a strong backlog and government contract momentum expected to support the quarter. Northrop Grumman to Post Q2 Earnings: Here's What to Expect
• Positive Sentiment: Recent program news, including work tied to Sentinel infrastructure, is reinforcing the long-term growth story for strategic deterrence and aerospace missions. Northrop Grumman Planning To Add Hundreds Of Jobs For Sentinel
• Neutral Sentiment: Analyst commentary remains mixed-to-positive, with recent coverage focused on key earnings metrics and margin sensitivity, especially around the Sentinel program.
• Negative Sentiment: Insider trading data shows no open-market insider buying in the last six months, while several executives have sold shares, which may temper some enthusiasm.

Northrop Grumman Stock Performance

Shares of NOC opened at $523.19 on Friday. The company's 50 day moving average price is $538.07 and its 200 day moving average price is $623.81. Northrop Grumman Corporation has a 52 week low of $493.84 and a 52 week high of $774.00. The company has a market capitalization of $74.31 billion, a PE ratio of 16.38, a PEG ratio of 3.53 and a beta of -0.10. 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 released its quarterly earnings data on Tuesday, April 21st. The aerospace company reported $6.14 earnings per share for the quarter, beating the consensus estimate of $6.06 by $0.08. Northrop Grumman had a net margin of 10.80% and a return on equity of 24.72%. The firm had revenue of $9.88 billion for the quarter, compared to analyst estimates of $9.75 billion. During the same quarter in the prior year, the business earned $6.06 EPS. The company's revenue for the quarter 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. Research analysts expect that Northrop Grumman Corporation will post 27.95 EPS for the current fiscal year.

Northrop Grumman Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Monday, June 1st were paid a $2.47 dividend. This represents a $9.88 dividend on an annualized basis and a dividend 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 (DPR) is currently 30.92%.

Analyst Ratings Changes

A number of brokerages have recently commented on NOC. Morgan Stanley set a $745.00 price objective on Northrop Grumman in a research report on Wednesday. Jefferies Financial Group decreased their target price on Northrop Grumman from $620.00 to $580.00 and set a "hold" rating on the stock in a report on Friday, June 26th. UBS Group cut 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. Weiss Ratings downgraded Northrop Grumman from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday. Finally, TD Cowen decreased their price target on Northrop Grumman from $680.00 to $580.00 and set a "hold" rating for the company in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $676.29.

Northrop Grumman 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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