OMERS ADMINISTRATION Corp Cuts Stake in Northrop Grumman Corporation $NOC

Key Points

• OMERS ADMINISTRATION Corp reduced its stake in Northrop Grumman by 14.0%, now owning 5,141 shares valued at $2.63 million.
• Institutional investors, including GAMMA Investing LLC and Wellington Management Group, significantly increased their positions in Northrop Grumman, with GAMMA boosting its stake by 55,522.3%.
• Northrop Grumman's quarterly earnings exceeded expectations, reporting $7.11 EPS against a consensus estimate of $6.84, while also announcing a quarterly dividend of $2.31 per share, yielding 1.6%.

OMERS ADMINISTRATION Corp lessened its holdings in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 14.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,141 shares of the aerospace company's stock after selling 834 shares during the period. OMERS ADMINISTRATION Corp's holdings in Northrop Grumman were worth $2,632,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Guggenheim Capital LLC boosted its position in Northrop Grumman by 59.3% in the first quarter. Guggenheim Capital LLC now owns 32,109 shares of the aerospace company's stock valued at $16,440,000 after buying an additional 11,959 shares in the last quarter. RB Capital Management LLC lifted its holdings in Northrop Grumman by 2.0% during the 1st quarter. RB Capital Management LLC now owns 3,760 shares of the aerospace company's stock worth $1,925,000 after buying an additional 72 shares during the period. CreativeOne Wealth LLC lifted its stake in shares of Northrop Grumman by 73.4% in the first quarter. CreativeOne Wealth LLC now owns 5,387 shares of the aerospace company's stock worth $2,758,000 after acquiring an additional 2,281 shares during the period. Ieq Capital LLC raised its stake in Northrop Grumman by 94.5% during the first quarter. Ieq Capital LLC now owns 27,363 shares of the aerospace company's stock worth $14,010,000 after buying an additional 13,298 shares during the last quarter. Finally, Samalin Investment Counsel LLC lifted its stake in shares of Northrop Grumman by 5.8% in the 1st quarter. Samalin Investment Counsel LLC now owns 549 shares of the aerospace company's stock valued at $281,000 after purchasing an additional 30 shares during the period. 83.40% of the stock is currently owned by institutional investors.

Northrop Grumman Stock Performance

Northrop Grumman stock traded down $0.98 during trading on Tuesday, hitting $589.06. The stock had a trading volume of 635,591 shares, compared to its average volume of 975,654. The stock's 50 day moving average is $552.40 and its two-hundred day moving average is $510.22. Northrop Grumman Corporation has a 1 year low of $426.24 and a 1 year high of $600.99. The stock has a market cap 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 quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share for the quarter, topping the consensus estimate of $6.84 by $0.27. The firm had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.15 billion. Northrop Grumman had a net margin of 9.74% and a return on equity of 25.52%. The company's revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the company earned $6.36 earnings per share. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. As a group, analysts predict that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Dividend Announcement

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

Analyst Ratings Changes

NOC has been the subject of several research analyst reports. Bank of America lifted their price target on shares of Northrop Grumman from $550.00 to $650.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Sanford C. Bernstein reiterated a "market perform" rating on shares of Northrop Grumman in a report on Monday, July 14th. Robert W. Baird boosted their target price on shares of Northrop Grumman from $547.00 to $565.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Susquehanna raised their price target on shares of Northrop Grumman from $557.00 to $650.00 and gave the company a "positive" rating in a research report on Tuesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $542.00 price target (down previously from $580.00) on shares of Northrop Grumman in a research note on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $588.85.

Insider Transactions at Northrop Grumman

In other Northrop Grumman news, VP Robert J. Fleming sold 3,500 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $505.77, for a total value of $1,770,195.00. Following the completion of the sale, the vice president owned 1,827 shares of the company's stock, valued at $924,041.79. This represents a 65.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kathy J. Warden sold 7,500 shares of Northrop Grumman stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $505.77, for a total value of $3,793,275.00. Following the completion of the transaction, the chief executive officer owned 201,602 shares in the company, valued at approximately $101,964,243.54. This represents a 3.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,536 shares of company stock worth $8,306,857 in the last three months. Insiders own 0.23% of the company's stock.

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.