State of New Jersey Common Pension Fund D Reduces Stock Holdings in Northrop Grumman Corporation $NOC

Key Points

• The State of New Jersey Common Pension Fund D has reduced its holdings in Northrop Grumman Corporation by 7.5%, now owning 46,746 shares valued at approximately $23.9 million.
• Several analysts have upgraded their ratings for Northrop Grumman, with price targets increasing to as high as $650.00, and a consensus rating of "Moderate Buy" among analysts.
• Northrop Grumman recently increased its quarterly dividend to $2.31 per share, reflecting a 1.6% yield and a dividend payout ratio of 34.06%.

State of New Jersey Common Pension Fund D lessened its stake in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 7.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,746 shares of the aerospace company's stock after selling 3,795 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Northrop Grumman were worth $23,934,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. American Century Companies Inc. grew its position in Northrop Grumman by 3.9% in the 1st quarter. American Century Companies Inc. now owns 9,980 shares of the aerospace company's stock valued at $5,110,000 after purchasing an additional 370 shares during the period. Ethic Inc. lifted its stake in shares of Northrop Grumman by 22.7% in the first quarter. Ethic Inc. now owns 8,473 shares of the aerospace company's stock valued at $4,347,000 after buying an additional 1,567 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Northrop Grumman by 51.6% during the first quarter. EverSource Wealth Advisors LLC now owns 1,064 shares of the aerospace company's stock valued at $544,000 after buying an additional 362 shares during the last quarter. Brandywine Global Investment Management LLC bought a new stake in shares of Northrop Grumman during the first quarter worth about $22,616,000. Finally, Aberdeen Group plc raised its holdings in shares of Northrop Grumman by 0.8% in the 1st quarter. Aberdeen Group plc now owns 13,120 shares of the aerospace company's stock worth $6,702,000 after acquiring an additional 109 shares during the last quarter. 83.40% of the stock is currently owned by institutional investors.

Northrop Grumman Price Performance

Shares of NOC traded up $1.2990 during midday trading on Tuesday, hitting $586.1190. 470,683 shares of the company traded hands, compared to its average volume of 995,656. The stock has a 50-day moving average of $533.94 and a 200-day moving average of $501.74. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. Northrop Grumman Corporation has a one year low of $426.24 and a one year high of $594.68. The firm has a market cap of $83.92 billion, a P/E ratio of 21.60, a PEG ratio of 5.59 and a beta of 0.15.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 EPS for the quarter, beating analysts' consensus estimates 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%. The business's revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the previous year, the business earned $6.36 EPS. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. As a group, sell-side analysts predict that Northrop Grumman Corporation will post 28.05 EPS for the current fiscal year.

Analysts Set New Price Targets

NOC has been the topic of several analyst reports. Susquehanna lifted their target price on Northrop Grumman from $557.00 to $650.00 and gave the company a "positive" rating in a research report on Tuesday, July 22nd. Wells Fargo & Company reissued an "overweight" rating on shares of Northrop Grumman in a report on Tuesday, July 22nd. Bank of America lifted their price objective on shares of Northrop Grumman from $550.00 to $650.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Sanford C. Bernstein restated a "market perform" rating on shares of Northrop Grumman in a research note on Monday, July 14th. Finally, Truist Financial reiterated a "buy" rating and issued a $625.00 price objective (up previously from $550.00) on shares of Northrop Grumman in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $586.79.

Insider Activity at Northrop Grumman

In other news, VP Thomas H. Jones sold 729 shares of the stock in a transaction on Friday, June 13th. The shares were sold at an average price of $505.77, for a total value of $368,706.33. Following the transaction, the vice president owned 7,552 shares of the company's stock, valued at $3,819,575.04. This represents a 8.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Roshan S. Roeder sold 991 shares of Northrop Grumman stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $490.00, for a total transaction of $485,590.00. Following the sale, the vice president directly owned 319 shares of the company's stock, valued at $156,310. This represents a 75.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,536 shares of company stock valued at $8,306,857. Company insiders own 0.23% of the company's stock.

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.