TD Asset Management Inc Purchases 14,482 Shares of Northrop Grumman Corporation $NOC

Key Points

• TD Asset Management Inc increased its stake in Northrop Grumman Corporation by 18.7%, acquiring an additional 14,482 shares during the second quarter, bringing its total to 91,966 shares valued at $45.98 million.
• Northrop Grumman's stock recently dropped 1.7%, with shares trading at $598.74, and has a market capitalization of approximately $85.73 billion.
• The company reported a quarterly earnings per share (EPS) of $7.11, exceeding estimates and projecting annual EPS guidance of $25.000-$25.400 for FY 2025.

TD Asset Management Inc lifted its position in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 18.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 91,966 shares of the aerospace company's stock after acquiring an additional 14,482 shares during the quarter. TD Asset Management Inc owned approximately 0.06% of Northrop Grumman worth $45,981,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brookstone Capital Management raised its position in shares of Northrop Grumman by 121.0% during the first quarter. Brookstone Capital Management now owns 6,640 shares of the aerospace company's stock worth $3,400,000 after acquiring an additional 3,635 shares during the last quarter. First United Bank & Trust raised its position in shares of Northrop Grumman by 641.0% during the second quarter. First United Bank & Trust now owns 778 shares of the aerospace company's stock worth $389,000 after acquiring an additional 673 shares during the last quarter. GAM Holding AG raised its position in shares of Northrop Grumman by 51.9% during the first quarter. GAM Holding AG now owns 2,338 shares of the aerospace company's stock worth $1,197,000 after acquiring an additional 799 shares during the last quarter. Golden State Wealth Management LLC raised its position in shares of Northrop Grumman by 206.2% during the first quarter. Golden State Wealth Management LLC now owns 2,771 shares of the aerospace company's stock worth $1,421,000 after acquiring an additional 1,866 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Northrop Grumman by 18.8% during the first quarter. Bessemer Group Inc. now owns 795,839 shares of the aerospace company's stock worth $407,477,000 after acquiring an additional 125,693 shares during the last quarter. Institutional investors own 83.40% of the company's stock.

Northrop Grumman Stock Down 1.7%

Shares of Northrop Grumman stock opened at $598.74 on Friday. Northrop Grumman Corporation has a 1 year low of $426.24 and a 1 year high of $640.90. The business has a 50-day moving average of $592.22 and a two-hundred day moving average of $536.46. The company has a market capitalization of $85.73 billion, a P/E ratio of 22.07, a price-to-earnings-growth ratio of 5.92 and a beta of 0.10. 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 (NYSE:NOC - Get Free Report) last announced its quarterly earnings results 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. Northrop Grumman had a return on equity of 25.52% and a net margin of 9.74%.The company had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.15 billion. During the same period in the prior year, the company earned $6.36 earnings per share. The company's revenue for the quarter was up 1.3% compared to the same quarter last year. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. As a group, equities analysts predict 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. Investors 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 dividend on an annualized basis and a dividend yield of 1.5%. Northrop Grumman's dividend payout ratio (DPR) is presently 34.06%.

Analyst Upgrades and Downgrades

NOC has been the subject of a number of recent analyst reports. Royal Bank Of Canada upped their price objective on Northrop Grumman from $600.00 to $625.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Susquehanna upped their price objective on Northrop Grumman from $557.00 to $650.00 and gave the company a "positive" rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. upped their price objective on Northrop Grumman from $480.00 to $585.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Morgan Stanley upped their price objective on Northrop Grumman from $625.00 to $720.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, Bank of America upped their price objective on Northrop Grumman from $550.00 to $650.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. One equities research 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 stock. Based on data from MarketBeat.com, Northrop Grumman currently 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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