The Manufacturers Life Insurance Company Cuts Stock Position in Northrop Grumman Corporation $NOC

Key Points

• The Manufacturers Life Insurance Company reduced its Northrop Grumman stake by 8.4% in the first quarter, selling 6,427 shares and retaining 69,867 shares valued at approximately $47.7 million. Institutional investors collectively own 83.4% of the company.
• Analyst sentiment remains positive but cautious: Northrop Grumman has a consensus rating of “Moderate Buy” and a $659 price target, although several firms recently lowered their targets or maintained neutral/hold ratings.
• Northrop Grumman exceeded quarterly earnings expectations with EPS of $7.68 and revenue of $10.88 billion, while revenue rose 5.1% year over year. The company also increased its quarterly dividend to $2.47, representing a 1.8% yield.

The Manufacturers Life Insurance Company lessened its holdings in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 8.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 69,867 shares of the aerospace company's stock after selling 6,427 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Northrop Grumman were worth $47,666,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in NOC. Torren Management LLC acquired a new stake in shares of Northrop Grumman in the fourth quarter valued at $26,000. Karpus Management Inc. acquired a new position in Northrop Grumman during the 4th quarter worth $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in Northrop Grumman during the 4th quarter worth $29,000. Motiv8 Investments LLC purchased a new stake in Northrop Grumman during the 4th quarter worth about $30,000. Finally, Financial Life Planners purchased a new stake in Northrop Grumman during the 1st quarter worth about $30,000. Institutional investors and hedge funds own 83.40% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NOC. Wells Fargo & Company reiterated an "overweight" rating and issued a $620.00 price objective on shares of Northrop Grumman in a research note on Wednesday, July 8th. Wall Street Zen lowered shares of Northrop Grumman from a "strong-buy" rating to a "hold" rating in a research note on Saturday, April 25th. TD Cowen reduced their target price on shares of Northrop Grumman from $580.00 to $550.00 and set a "hold" rating on the stock in a report on Wednesday, July 22nd. Weiss Ratings downgraded shares of Northrop Grumman from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, July 15th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Northrop Grumman from $635.00 to $600.00 and set a "neutral" rating for the company in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $659.00.

Northrop Grumman Stock Performance

NYSE NOC opened at $534.49 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 1.06. Northrop Grumman Corporation has a 1 year low of $479.02 and a 1 year high of $774.00. The company has a market capitalization of $75.91 billion, a PE ratio of 16.98, a P/E/G ratio of 3.46 and a beta of -0.10. The company has a fifty day moving average of $534.95 and a two-hundred day moving average of $620.56.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its earnings results on Tuesday, July 21st. The aerospace company reported $7.68 EPS for the quarter, topping analysts' consensus estimates of $6.82 by $0.86. Northrop Grumman had a return on equity of 24.25% and a net margin of 10.48%.The business had revenue of $10.88 billion for the quarter, compared to analysts' expectations of $10.80 billion. During the same quarter in the previous year, the firm earned $8.15 earnings per share. The business's revenue was up 5.1% compared to the same quarter last year. Northrop Grumman has set its FY 2026 guidance at 28.600-29.100 EPS. As a group, analysts expect that Northrop Grumman Corporation will post 28.97 earnings per share for the current year.

Northrop Grumman Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Monday, June 1st were issued a $2.47 dividend. The ex-dividend date of this dividend was Monday, June 1st. This is an increase from Northrop Grumman's previous quarterly dividend of $2.31. This represents a $9.88 annualized dividend and a dividend yield of 1.8%. Northrop Grumman's dividend payout ratio is currently 31.39%.

About Northrop Grumman

Northrop Grumman Corporation NYSE: NOC is a leading U.S.-based aerospace and defense company that designs, builds and sustains advanced systems, products and technologies for government and commercial customers. Formed through the combination of Northrop and Grumman businesses in the 1990s, the company's portfolio spans manned and unmanned aircraft, space systems, missile defense, radar and sensor systems, and integrated command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) solutions.

The company's work includes airframe and platform manufacturing, space hardware and satellite systems, advanced mission systems and cybersecurity services, as well as logistics, sustainment and modernization programs.

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