Northrop Grumman Corporation $NOC Shares Sold by ZWJ Investment Counsel Inc.

Key Points

• ZWJ Investment Counsel Inc. has reduced its stake in Northrop Grumman Corporation by 1.9%, now holding 101,695 shares valued at approximately $50.8 million.
• Northrop Grumman reported $7.11 earnings per share for the most recent quarter, outperforming analysts' expectations of $6.84, with revenue increasing by 1.3% year-over-year.
• The company announced a quarterly dividend of $2.31 per share, with an annualized yield of 1.5%, and a payout ratio of 34.06%.

ZWJ Investment Counsel Inc. decreased its position in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 1.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,695 shares of the aerospace company's stock after selling 1,975 shares during the period. Northrop Grumman accounts for approximately 1.9% of ZWJ Investment Counsel Inc.'s portfolio, making the stock its 19th biggest holding. ZWJ Investment Counsel Inc. owned about 0.07% of Northrop Grumman worth $50,846,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Northrop Grumman by 176.3% in the fourth quarter. Brighton Jones LLC now owns 2,970 shares of the aerospace company's stock valued at $1,394,000 after purchasing an additional 1,895 shares during the period. Bison Wealth LLC increased its holdings in shares of Northrop Grumman by 5.3% in the fourth quarter. Bison Wealth LLC now owns 641 shares of the aerospace company's stock valued at $301,000 after purchasing an additional 32 shares during the period. NBC Securities Inc. acquired a new position in shares of Northrop Grumman in the first quarter valued at approximately $324,000. RFG Advisory LLC acquired a new position in shares of Northrop Grumman in the first quarter valued at approximately $294,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Northrop Grumman by 29.3% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 106 shares of the aerospace company's stock valued at $54,000 after purchasing an additional 24 shares during the period. Institutional investors and hedge funds own 83.40% of the company's stock.

Northrop Grumman Stock Up 0.9%

Northrop Grumman stock opened at $610.32 on Friday. 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 Corporation has a 1-year low of $426.24 and a 1-year high of $610.85. The company has a market cap of $87.39 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 5.79 and a beta of 0.10. The stock's 50 day moving average price is $585.11 and its 200 day moving average price is $529.07.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share for the quarter, beating analysts' consensus estimates of $6.84 by $0.27. Northrop Grumman had a return on equity of 25.52% and a net margin of 9.74%.The firm had revenue of $10.35 billion for the quarter, compared to the consensus estimate of $10.15 billion. During the same period in the previous year, the business earned $6.36 earnings per share. The company's revenue for the quarter 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, sell-side analysts predict that Northrop Grumman Corporation will post 28.05 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd were given a dividend of $2.31 per share. This represents a $9.24 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Tuesday, September 2nd. Northrop Grumman's payout ratio is presently 34.06%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Bank of America boosted their target price on Northrop Grumman from $550.00 to $650.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Robert W. Baird boosted their target price on Northrop Grumman from $547.00 to $565.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Susquehanna boosted their target price on Northrop Grumman from $557.00 to $650.00 and gave the company a "positive" rating in a report on Tuesday, July 22nd. Sanford C. Bernstein reissued a "market perform" rating on shares of Northrop Grumman in a report on Monday, July 14th. Finally, JPMorgan Chase & Co. lifted their price target on Northrop Grumman from $480.00 to $585.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $588.85.

Northrop Grumman Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.