Shell Asset Management Co. Boosts Stake in Northrop Grumman Corporation $NOC

Key Points

• Shell Asset Management Co. increased its stake in Northrop Grumman Corporation by 24.1%, now owning a total of 3,937 shares valued at approximately $1.97 million.
• Northrop Grumman reported earnings of $7.11 per share for the last quarter, beating analyst estimates of $6.84 and marking a 1.3% increase in revenue year-over-year.
• The company announced a quarterly dividend of $2.31 per share, reflecting a dividend yield of 1.4% and a payout ratio of 34.06%.

Shell Asset Management Co. boosted its stake in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 24.1% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,937 shares of the aerospace company's stock after buying an additional 764 shares during the quarter. Shell Asset Management Co.'s holdings in Northrop Grumman were worth $1,968,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. TriaGen Wealth Management LLC lifted its stake in Northrop Grumman by 6.6% in the 2nd quarter. TriaGen Wealth Management LLC now owns 713 shares of the aerospace company's stock valued at $356,000 after buying an additional 44 shares in the last quarter. Tyche Wealth Partners LLC lifted its stake in Northrop Grumman by 2.5% in the 2nd quarter. Tyche Wealth Partners LLC now owns 830 shares of the aerospace company's stock valued at $415,000 after buying an additional 20 shares in the last quarter. Bingham Private Wealth LLC lifted its stake in Northrop Grumman by 4.3% in the 2nd quarter. Bingham Private Wealth LLC now owns 937 shares of the aerospace company's stock valued at $468,000 after buying an additional 39 shares in the last quarter. Richwood Investment Advisors LLC lifted its stake in Northrop Grumman by 3.0% in the 2nd quarter. Richwood Investment Advisors LLC now owns 3,427 shares of the aerospace company's stock valued at $1,713,000 after buying an additional 100 shares in the last quarter. Finally, SteelPeak Wealth LLC raised its holdings in Northrop Grumman by 184.5% in the 2nd quarter. SteelPeak Wealth LLC now owns 7,825 shares of the aerospace company's stock valued at $3,912,000 after acquiring an additional 5,075 shares during the last quarter. Hedge funds and other institutional investors own 83.40% of the company's stock.

Northrop Grumman Price Performance

NOC opened at $638.40 on Thursday. The firm has a market cap of $91.41 billion, a price-to-earnings ratio of 23.53, a price-to-earnings-growth ratio of 5.95 and a beta of 0.10. Northrop Grumman Corporation has a fifty-two week low of $426.24 and a fifty-two week high of $638.54. The company's 50-day moving average price is $588.42 and its 200 day moving average price is $531.88. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share for the quarter, beating analysts' consensus estimates of $6.84 by $0.27. The company had revenue of $10.35 billion for 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 revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.36 earnings per share. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. As a group, sell-side analysts expect that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The firm 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. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. Northrop Grumman's dividend payout ratio (DPR) is 34.06%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NOC. Royal Bank Of Canada boosted their price target on Northrop Grumman from $600.00 to $625.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. boosted their price target on Northrop Grumman from $480.00 to $585.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Sanford C. Bernstein reiterated a "market perform" rating on shares of Northrop Grumman in a report on Monday, July 14th. Barclays boosted their price target on Northrop Grumman from $500.00 to $580.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Finally, Wells Fargo & Company reiterated an "overweight" rating on shares of Northrop Grumman in a report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $601.00.

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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