Ritholtz Wealth Management Acquires 601 Shares of Northrop Grumman Corporation $NOC

Key Points

• Ritholtz Wealth Management increased its holdings in Northrop Grumman Corporation by 33.5%, acquiring an additional 601 shares, bringing their total to 2,395 shares valued at approximately $1.2 million.
• Northrop Grumman reported strong quarterly earnings, with an EPS of $7.11, exceeding estimates, and revenue of $10.35 billion, marking a 1.3% year-over-year increase.
• Several analysts have raised their price targets for Northrop Grumman, with Morgan Stanley setting a new target of $720.00, indicating positive market sentiment towards the company's future performance.

Ritholtz Wealth Management raised its holdings in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 33.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,395 shares of the aerospace company's stock after acquiring an additional 601 shares during the quarter. Ritholtz Wealth Management's holdings in Northrop Grumman were worth $1,197,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in NOC. IMA Advisory Services Inc. purchased a new position in shares of Northrop Grumman during the first quarter valued at about $27,000. Saudi Central Bank purchased a new position in shares of Northrop Grumman during the first quarter valued at about $28,000. Banque Cantonale Vaudoise purchased a new position in shares of Northrop Grumman during the first quarter valued at about $30,000. Flaharty Asset Management LLC purchased a new position in shares of Northrop Grumman during the first quarter valued at about $36,000. Finally, Hollencrest Capital Management grew its position in shares of Northrop Grumman by 790.0% during the first quarter. Hollencrest Capital Management now owns 89 shares of the aerospace company's stock valued at $45,000 after purchasing an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 83.40% of the company's stock.

Northrop Grumman Trading Down 0.8%

NOC opened at $594.15 on Friday. 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 $85.07 billion, a P/E ratio of 21.90, a P/E/G ratio of 5.82 and a beta of 0.10. Northrop Grumman Corporation has a 12 month low of $426.24 and a 12 month high of $640.90. The stock has a 50-day moving average of $592.48 and a 200 day moving average of $537.02.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced 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 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 firm's quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the firm earned $6.36 earnings per share. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. As a group, research analysts forecast that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Barclays raised their price objective on Northrop Grumman from $500.00 to $580.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Morgan Stanley lifted their price target on Northrop Grumman from $625.00 to $720.00 and gave the stock an "overweight" rating in a research report on Wednesday. Truist Financial lifted their price target on Northrop Grumman from $625.00 to $688.00 and gave the stock a "buy" rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their price target on Northrop Grumman from $480.00 to $585.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company reiterated an "overweight" rating on shares of Northrop Grumman in a research report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $613.15.

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.

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