The Manufacturers Life Insurance Company Sells 2,164 Shares of Northrop Grumman Corporation $NOC

Key Points

• The Manufacturers Life Insurance Company reduced its Northrop Grumman stake by 3.1% in the second quarter, selling 2,164 shares while retaining 67,703 shares valued at approximately $34.5 million. Institutional investors collectively own 83.4% of the company.
• Analysts maintain a “Moderate Buy” consensus on NOC, with an average price target of $662.25, although several firms recently lowered their targets or maintained neutral ratings.
• Northrop Grumman exceeded quarterly earnings expectations, reporting $7.68 EPS and $10.88 billion in revenue; revenue rose 5.1% year over year. The company also declared a quarterly dividend of $2.47 per share, representing a 1.9% annualized yield.

The Manufacturers Life Insurance Company cut its holdings in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 3.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 67,703 shares of the aerospace company's stock after selling 2,164 shares during the period. The Manufacturers Life Insurance Company's holdings in Northrop Grumman were worth $34,482,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Financial Life Planners bought a new stake in shares of Northrop Grumman during the first quarter worth approximately $30,000. Karpus Management Inc. bought a new position in Northrop Grumman in the fourth quarter valued at approximately $26,000. Whipplewood Advisors LLC boosted its stake in Northrop Grumman by 380.0% in the first quarter. Whipplewood Advisors LLC now owns 48 shares of the aerospace company's stock valued at $33,000 after acquiring an additional 38 shares during the last quarter. Motiv8 Investments LLC acquired a new stake in Northrop Grumman during the 4th quarter worth $30,000. Finally, EFG International AG acquired a new stake in Northrop Grumman during the 4th quarter worth $31,000. Institutional investors own 83.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on NOC shares. TD Cowen boosted their target price on Northrop Grumman from $550.00 to $590.00 and gave the stock a "hold" rating in a research report on Wednesday, August 19th. The Goldman Sachs Group lowered their price target on Northrop Grumman from $603.00 to $533.00 and set a "neutral" rating for the company in a research note on Tuesday, July 14th. Robert W. Baird set a $500.00 price objective on shares of Northrop Grumman in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. decreased their price objective 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. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $620.00 target price on shares of Northrop Grumman in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Northrop Grumman presently has a consensus rating of "Moderate Buy" and an average price target of $662.25.

Insider Buying and Selling

In related news, Director Mark Welsh, III sold 95 shares of the business's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $547.53, for a total value of $52,015.35. Following the sale, the director directly owned 4,393 shares of the company's stock, valued at approximately $2,405,299.29. The trade was a 2.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.21% of the company's stock.

Northrop Grumman Trading Down 0.1%

NYSE NOC opened at $518.19 on Friday. Northrop Grumman Corporation has a one year low of $479.02 and a one year high of $774.00. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 1.06. The firm has a market cap of $73.60 billion, a P/E ratio of 16.46, a P/E/G ratio of 3.04 and a beta of -0.11. The stock's 50-day moving average is $543.96 and its 200-day moving average is $592.05.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The aerospace company reported $7.68 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $10.80 billion. During the same period in the previous year, the firm earned $8.15 EPS. Northrop Grumman's quarterly 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. Sell-side analysts anticipate that Northrop Grumman Corporation will post 28.97 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Monday, August 31st will be issued a dividend of $2.47 per share. This represents a $9.88 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Monday, August 31st. Northrop Grumman's dividend payout ratio (DPR) is presently 31.39%.

Northrop Grumman Company Profile

Northrop Grumman Corporation is a global aerospace and defense company that develops and delivers systems, platforms and technologies for government and commercial customers. Its activities include the design and production of military aircraft, autonomous systems, spacecraft, launch vehicles, missile-defense systems, command-and-control networks, cyber solutions, sensors and other mission-critical technologies.

The company serves the U.S. Department of Defense, other U.S. government agencies and international customers.

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