Clough Capital Partners L P Has $10.32 Million Holdings in Northrop Grumman Corporation $NOC

Key Points

• Clough Capital Partners L P increased its holdings in Northrop Grumman Corporation by 38.6% during the first quarter, now owning over $10 million in shares.
• CEO Kathy J. Warden sold 7,500 shares at an average price of $505.77, reducing her ownership by 3.59% to about $101.96 million.
• Northrop Grumman announced a quarterly dividend of $2.31 per share, with the ex-dividend date set for September 2nd.

Clough Capital Partners L P lifted its position in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 38.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,163 shares of the aerospace company's stock after buying an additional 5,620 shares during the period. Clough Capital Partners L P's holdings in Northrop Grumman were worth $10,324,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Northrop Grumman by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 13,266,301 shares of the aerospace company's stock worth $6,792,479,000 after buying an additional 588,520 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Northrop Grumman by 23.4% in the 1st 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 grew its holdings in shares of Northrop Grumman by 10.4% in the 1st 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. grew its holdings in shares of Northrop Grumman by 12.1% in the 1st 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 grew its holdings in shares of Northrop Grumman by 55,522.3% in the 1st 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 own 83.40% of the company's stock.

Northrop Grumman Stock Performance

NYSE:NOC traded up $1.33 during mid-day trading on Tuesday, hitting $589.06. 633,878 shares of the company's stock traded hands, compared to its average volume of 975,642. The firm has a 50 day moving average of $552.40 and a two-hundred day moving average of $510.22. Northrop Grumman Corporation has a 12 month low of $426.24 and a 12 month high of $600.99. The firm has a market capitalization of $84.34 billion, a price-to-earnings ratio of 21.71, a price-to-earnings-growth ratio of 5.65 and a beta of 0.13. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $10.15 billion. During the same quarter in the prior year, the company earned $6.36 EPS. The firm'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, equities analysts forecast that Northrop Grumman Corporation will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd will be issued a $2.31 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $9.24 annualized dividend and a yield of 1.6%. Northrop Grumman's dividend payout ratio is 34.06%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on NOC shares. Wells Fargo & Company restated an "overweight" rating on shares of Northrop Grumman in a report on Tuesday, July 22nd. Sanford C. Bernstein reiterated a "market perform" rating on shares of Northrop Grumman in a report on Monday, July 14th. Robert W. Baird lifted their price target on Northrop Grumman from $547.00 to $565.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Barclays lifted their price target on Northrop Grumman from $500.00 to $580.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Finally, Royal Bank Of Canada boosted their target price on Northrop Grumman from $600.00 to $625.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, Northrop Grumman presently has a consensus rating of "Moderate Buy" and an average price target of $588.85.

Insider Transactions at Northrop Grumman

In other Northrop Grumman news, VP Roshan S. Roeder sold 991 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $490.00, for a total value of $485,590.00. Following the completion of the transaction, the vice president owned 319 shares of the company's stock, valued at $156,310. This represents a 75.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Robert J. Fleming sold 3,500 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $505.77, for a total value of $1,770,195.00. Following the completion of the transaction, the vice president directly owned 1,827 shares of the company's stock, valued at approximately $924,041.79. This trade represents a 65.70% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,536 shares of company stock worth $8,306,857. Insiders own 0.23% of the company's stock.

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.