Sagespring Wealth Partners LLC Acquires 587 Shares of Northrop Grumman Corporation $NOC

Key Points

• Sagespring Wealth Partners LLC increased its holdings in Northrop Grumman by 26.9% during the second quarter, now owning a total of 2,770 shares valued at approximately $1.39 million.
• Analysts have raised their price targets for Northrop Grumman, with Barclays setting a new target of $580.00 and JPMorgan increasing theirs to $585.00, reflecting a general optimistic outlook for the stock.
• Northrop Grumman recently reported earnings of $7.11 per share for the last quarter, surpassing estimates and indicating a year-over-year revenue growth of 1.3%.

Sagespring Wealth Partners LLC raised its holdings in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 26.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,770 shares of the aerospace company's stock after purchasing an additional 587 shares during the quarter. Sagespring Wealth Partners LLC's holdings in Northrop Grumman were worth $1,385,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NOC. Brighton Jones LLC grew its stake in shares of Northrop Grumman by 176.3% in the 4th quarter. Brighton Jones LLC now owns 2,970 shares of the aerospace company's stock worth $1,394,000 after acquiring an additional 1,895 shares in the last quarter. Bison Wealth LLC increased its position in shares of Northrop Grumman by 5.3% during the fourth quarter. Bison Wealth LLC now owns 641 shares of the aerospace company's stock valued at $301,000 after buying an additional 32 shares during the period. GAMMA Investing LLC increased its position in shares of Northrop Grumman by 8.6% during the first quarter. GAMMA Investing LLC now owns 2,969 shares of the aerospace company's stock valued at $1,520,000 after buying an additional 236 shares during the period. Ritholtz Wealth Management increased its position in shares of Northrop Grumman by 31.5% during the first quarter. Ritholtz Wealth Management now owns 1,794 shares of the aerospace company's stock valued at $919,000 after buying an additional 430 shares during the period. Finally, Exchange Traded Concepts LLC increased its position in shares of Northrop Grumman by 10.5% in the first quarter. Exchange Traded Concepts LLC now owns 1,944 shares of the aerospace company's stock worth $995,000 after purchasing an additional 184 shares during the last quarter. Institutional investors own 83.40% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Robert W. Baird upped their price objective 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. Weiss Ratings restated a "buy (b-)" rating on shares of Northrop Grumman in a research report on Tuesday. Barclays increased their price target on shares of Northrop Grumman from $500.00 to $580.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. JPMorgan Chase & Co. increased their price objective on Northrop Grumman from $480.00 to $585.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Finally, Sanford C. Bernstein reissued a "market perform" rating on shares of Northrop Grumman in a research note on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $601.00.

Northrop Grumman Price Performance

NOC opened at $626.22 on Wednesday. The stock has a fifty day simple moving average of $591.60 and a two-hundred day simple moving average of $535.36. 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 company has a market cap of $89.66 billion, a price-to-earnings ratio of 23.08, a price-to-earnings-growth ratio of 6.01 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.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share for the quarter, beating 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 firm had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.15 billion. During the same period last year, the company earned $6.36 earnings per share. The company's 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. Research analysts predict that Northrop Grumman Corporation will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd were issued a dividend of $2.31 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $9.24 annualized dividend and a dividend yield of 1.5%. Northrop Grumman's dividend payout ratio (DPR) is presently 34.06%.

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.

Want to see what other hedge funds are holding NOC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Northrop Grumman Corporation (NYSE:NOC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.