Perpetual Ltd Cuts Stock Holdings in Northrop Grumman Corporation $NOC

Key Points

• Perpetual Ltd reduced its stock holdings in Northrop Grumman Corporation by 55.2%, bringing its total shares down to 2,239, valued at approximately $1.12 million.
• Several institutional investors, including GAMMA Investing LLC and Wellington Management Group, significantly increased their stakes in Northrop Grumman during the first quarter, demonstrating strong interest in the aerospace company.
• Northrop Grumman recently reported quarterly earnings of $7.11 per share, exceeding analysts' expectations, and announced a quarterly dividend of $2.31, yielding 1.6% annually.

Perpetual Ltd cut its holdings in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 55.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,239 shares of the aerospace company's stock after selling 2,757 shares during the period. Perpetual Ltd's holdings in Northrop Grumman were worth $1,119,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. IFM Investors Pty Ltd raised its holdings in Northrop Grumman by 7.1% during the 2nd quarter. IFM Investors Pty Ltd now owns 11,852 shares of the aerospace company's stock valued at $5,926,000 after acquiring an additional 786 shares during the period. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of Northrop Grumman during the 2nd quarter valued at $751,000. Clare Market Investments LLC purchased a new stake in shares of Northrop Grumman during the 2nd quarter valued at $470,000. Family Legacy Financial Solutions LLC purchased a new position in shares of Northrop Grumman in the second quarter worth about $75,000. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Northrop Grumman by 4.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,695 shares of the aerospace company's stock worth $18,502,000 after acquiring an additional 1,502 shares in the last quarter. 83.40% of the stock is owned by institutional investors.

Northrop Grumman Price Performance

Shares of NOC traded down $3.39 during mid-day trading on Tuesday, reaching $572.77. The stock had a trading volume of 238,742 shares, compared to its average volume of 954,620. The firm has a market cap of $82.01 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 5.49 and a beta of 0.13. Northrop Grumman Corporation has a 12 month low of $426.24 and a 12 month high of $600.99. The business has a fifty day moving average of $575.08 and a 200 day moving average of $522.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

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

Northrop Grumman Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $9.24 dividend on an annualized basis and a yield of 1.6%. Northrop Grumman's dividend payout ratio (DPR) is currently 34.06%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $542.00 target price (down from $580.00) on shares of Northrop Grumman in a report on Tuesday, July 8th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Northrop Grumman in a report on Tuesday, July 22nd. Susquehanna lifted their target price on shares of Northrop Grumman from $557.00 to $650.00 and gave the stock a "positive" rating in a report on Tuesday, July 22nd. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Northrop Grumman in a report on Monday, July 14th. Finally, Barclays boosted their price objective on shares of Northrop Grumman from $500.00 to $580.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. One investment 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $588.85.

Northrop Grumman 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.