Northrop Grumman Corporation $NOC Shares Sold by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management LLC reduced its stake in Northrop Grumman by 12.5%, now owning 4,265 shares worth approximately $2.15 million after selling 608 shares.
• Several institutional investors, including Vanguard Group and Wellington Management, increased their holdings in Northrop Grumman, reflecting strong institutional interest in the stock.
• Northrop Grumman reported $7.11 EPS for the last quarter, surpassing estimates, with a revenue of $10.35 billion, indicating a 1.3% year-over-year increase.

NorthCrest Asset Manangement LLC decreased its stake in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 12.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,265 shares of the aerospace company's stock after selling 608 shares during the period. NorthCrest Asset Manangement LLC's holdings in Northrop Grumman were worth $2,151,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Northrop Grumman by 4.6% in the first quarter. Vanguard Group Inc. now owns 13,266,301 shares of the aerospace company's stock valued at $6,792,479,000 after purchasing an additional 588,520 shares during the period. Wellington Management Group LLP raised its position in Northrop Grumman by 23.4% during the first quarter. Wellington Management Group LLP now owns 5,139,333 shares of the aerospace company's stock worth $2,631,390,000 after acquiring an additional 974,633 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Northrop Grumman by 10.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,241,144 shares of the aerospace company's stock worth $1,147,489,000 after acquiring an additional 210,500 shares during the last quarter. Invesco Ltd. raised its position in Northrop Grumman by 12.1% during the first quarter. Invesco Ltd. now owns 1,944,186 shares of the aerospace company's stock worth $995,443,000 after acquiring an additional 210,506 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Northrop Grumman by 55,522.3% during the first quarter. GAMMA Investing LLC now owns 1,520,158 shares of the aerospace company's stock worth $778,336,000 after acquiring an additional 1,517,425 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company's stock.

Analyst Ratings Changes

NOC has been the subject of a number of research reports. Royal Bank Of Canada lifted their target price on shares of Northrop Grumman from $600.00 to $625.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Bank of America lifted their target price on shares of Northrop Grumman from $550.00 to $650.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their target price on shares of Northrop Grumman from $480.00 to $585.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Truist Financial restated a "buy" rating and set a $625.00 target price (up previously from $550.00) on shares of Northrop Grumman in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company reiterated an "overweight" rating on shares of Northrop Grumman in a report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Northrop Grumman has an average rating of "Moderate Buy" and a consensus price target of $588.85.

Northrop Grumman Stock Performance

Shares of NYSE NOC opened at $574.06 on Friday. Northrop Grumman Corporation has a 12 month low of $426.24 and a 12 month high of $600.99. The company has a 50-day simple moving average of $572.83 and a 200-day simple moving average of $520.87. The company has a market cap of $82.19 billion, a PE ratio of 21.16, a price-to-earnings-growth ratio of 5.53 and a beta of 0.13. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share (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 firm had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.15 billion. During the same period in the previous year, the firm earned $6.36 earnings per share. Northrop Grumman's 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. On average, equities analysts anticipate that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Announces Dividend

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

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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