Red Spruce Capital LLC Reduces Stock Position in Northrop Grumman Corporation $NOC

Key Points

• Red Spruce Capital LLC decreased its stock position in Northrop Grumman Corporation by 10.6% during the 2nd quarter, now holding 3,820 shares valued at approximately $1.91 million.
• Northrop Grumman reported earnings of $7.11 EPS for the last quarter, exceeding analysts' expectations, with a year-over-year revenue increase of 1.3%.
• The company declared a quarterly dividend of $2.31 per share, reflecting an annualized yield of 1.6%, to be paid out on September 17th.

Red Spruce Capital LLC lessened its position in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 10.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,820 shares of the aerospace company's stock after selling 453 shares during the quarter. Red Spruce Capital LLC's holdings in Northrop Grumman were worth $1,910,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NOC. Brookstone Capital Management lifted its holdings in shares of Northrop Grumman by 121.0% in the 1st quarter. Brookstone Capital Management now owns 6,640 shares of the aerospace company's stock valued at $3,400,000 after buying an additional 3,635 shares during the period. GAM Holding AG lifted its holdings in shares of Northrop Grumman by 51.9% in the 1st quarter. GAM Holding AG now owns 2,338 shares of the aerospace company's stock valued at $1,197,000 after buying an additional 799 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of Northrop Grumman in the 1st quarter valued at about $33,090,000. Golden State Wealth Management LLC lifted its holdings in shares of Northrop Grumman by 206.2% in the 1st quarter. Golden State Wealth Management LLC now owns 2,771 shares of the aerospace company's stock valued at $1,421,000 after buying an additional 1,866 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in shares of Northrop Grumman by 18.8% in the 1st quarter. Bessemer Group Inc. now owns 795,839 shares of the aerospace company's stock valued at $407,477,000 after buying an additional 125,693 shares during the period. Hedge funds and other institutional investors own 83.40% of the company's stock.

Northrop Grumman Price Performance

NYSE:NOC opened at $575.91 on Monday. Northrop Grumman Corporation has a 12 month low of $426.24 and a 12 month high of $600.99. The stock has a 50 day moving average of $567.43 and a two-hundred day moving average of $518.57. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The firm has a market cap of $82.46 billion, a P/E ratio of 21.23, a price-to-earnings-growth ratio of 5.51 and a beta of 0.13.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.11 EPS for the quarter, topping 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 company had revenue of $10.35 billion during the quarter, compared to analyst estimates of $10.15 billion. During the same period in the previous year, the business earned $6.36 EPS. Northrop Grumman's quarterly revenue was up 1.3% on a year-over-year basis. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. On average, analysts expect that Northrop Grumman Corporation will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

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

Analyst Ratings Changes

NOC has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price objective on Northrop Grumman from $480.00 to $585.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Wall Street Zen raised Northrop Grumman from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Susquehanna boosted their price objective on Northrop Grumman from $557.00 to $650.00 and gave the company a "positive" rating in a report on Tuesday, July 22nd. Bank of America upped their price target on Northrop Grumman from $550.00 to $650.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, Truist Financial reaffirmed a "buy" rating and issued a $625.00 price target (up previously from $550.00) on shares of Northrop Grumman in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company 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.

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