Plato Investment Management Ltd Sells 795 Shares of Northrop Grumman Corporation $NOC

Key Points

• Plato Investment Management Ltd significantly reduced its stake in Northrop Grumman Corporation by 93.8%, selling 795 shares and now owning only 53 shares valued at $27,000.
• Northrop Grumman reported a quarterly earnings per share (EPS) of $7.11, exceeding analysts' expectations of $6.84, with a revenue of $10.35 billion.
• The company's recent dividend announcement includes a payout of $2.31 per share, translating to an annualized dividend of $9.24 and a yield of 1.6%.

Plato Investment Management Ltd cut its stake in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 93.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53 shares of the aerospace company's stock after selling 795 shares during the quarter. Plato Investment Management Ltd's holdings in Northrop Grumman were worth $27,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of NOC. IMA Advisory Services Inc. purchased a new position in Northrop Grumman in the first quarter worth about $27,000. Saudi Central Bank bought a new stake in Northrop Grumman during the 1st quarter valued at approximately $28,000. Banque Cantonale Vaudoise purchased a new stake in shares of Northrop Grumman during the 1st quarter worth approximately $30,000. Wood Tarver Financial Group LLC purchased a new stake in shares of Northrop Grumman during the 4th quarter worth approximately $32,000. Finally, Hollencrest Capital Management increased its position in shares of Northrop Grumman by 790.0% during the 1st quarter. Hollencrest Capital Management now owns 89 shares of the aerospace company's stock valued at $45,000 after purchasing an additional 79 shares during the last quarter. 83.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. Royal Bank Of Canada upped their price objective on Northrop Grumman from $600.00 to $625.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Sanford C. Bernstein reiterated a "market perform" rating on shares of Northrop Grumman in a research note on Monday, July 14th. Wall Street Zen upgraded Northrop Grumman from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. Robert W. Baird raised their target price on Northrop Grumman from $547.00 to $565.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Finally, Truist Financial reissued a "buy" rating and issued a $625.00 price objective (up from $550.00) on shares of Northrop Grumman in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Northrop Grumman currently has an average rating of "Moderate Buy" and a consensus target price of $588.85.

Northrop Grumman Price Performance

Shares of NYSE NOC opened at $575.91 on Friday. The stock's 50-day moving average is $567.43 and its two-hundred day moving average is $517.73. 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 $600.99. The company has a market cap of $82.46 billion, a price-to-earnings ratio of 21.23, a price-to-earnings-growth ratio of 5.58 and a beta of 0.13.

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

Northrop Grumman Dividend Announcement

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