Sequoia Financial Advisors LLC Buys 774 Shares of Northrop Grumman Corporation $NOC

Key Points

• Sequoia Financial Advisors LLC increased its stake in Northrop Grumman Corporation by 26% during Q2, acquiring an additional 774 shares, bringing their total holdings to 3,750 shares valued at approximately $1.875 million.
• Recent analyst upgrades include JPMorgan Chase & Co. raising their price target to $585, while Morgan Stanley increased their target to $720, reflecting a generally positive outlook on the company's stock.
• Northrop Grumman recently reported Q2 earnings of $7.11 per share, exceeding estimates, along with revenues of $10.35 billion, which indicates a year-over-year revenue growth of 1.3%.

Sequoia Financial Advisors LLC lifted its stake in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 26.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,750 shares of the aerospace company's stock after purchasing an additional 774 shares during the period. Sequoia Financial Advisors LLC's holdings in Northrop Grumman were worth $1,875,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its stake in Northrop Grumman by 23.4% in the first quarter. Wellington Management Group LLP now owns 5,139,333 shares of the aerospace company's stock worth $2,631,390,000 after acquiring an additional 974,633 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in Northrop Grumman by 1,425.2% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,001,198 shares of the aerospace company's stock worth $512,624,000 after acquiring an additional 935,554 shares during the period. Nuveen LLC purchased a new stake in Northrop Grumman in the first quarter worth about $369,205,000. Vanguard Group Inc. lifted its stake in Northrop Grumman by 4.6% in the first quarter. Vanguard Group Inc. now owns 13,266,301 shares of the aerospace company's stock worth $6,792,479,000 after acquiring an additional 588,520 shares during the period. Finally, AQR Capital Management LLC lifted its stake in Northrop Grumman by 98.8% in the first quarter. AQR Capital Management LLC now owns 899,114 shares of the aerospace company's stock worth $460,355,000 after acquiring an additional 446,940 shares during the period. 83.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Northrop Grumman from $480.00 to $585.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Northrop Grumman in a research note on Tuesday. Morgan Stanley upped their price objective on shares of Northrop Grumman from $625.00 to $720.00 and gave the stock an "overweight" rating in a research note on Wednesday. Royal Bank Of Canada upped their price objective on shares of Northrop Grumman from $600.00 to $625.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Finally, Sanford C. Bernstein reissued a "market perform" rating on shares of Northrop Grumman in a research report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $613.15.

Northrop Grumman Stock Performance

Shares of Northrop Grumman stock opened at $598.74 on Friday. The firm has a market capitalization of $85.73 billion, a P/E ratio of 22.07, a PEG ratio of 5.92 and a beta of 0.10. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The company has a 50 day moving average price of $592.22 and a 200 day moving average price of $536.46. Northrop Grumman Corporation has a 52 week low of $426.24 and a 52 week high of $640.90.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.11 EPS for the quarter, beating the consensus estimate 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 was up 1.3% on a year-over-year basis. During the same period last year, the firm posted $6.36 EPS. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. Sell-side analysts expect that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Announces Dividend

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