United Services Automobile Association Makes New $1.58 Million Investment in Northrop Grumman Corporation $NOC

Key Points

• United Services Automobile Association invested approximately $1.58 million in Northrop Grumman Corporation by acquiring 3,078 shares during the first quarter.
• Northrop Grumman's quarterly revenue reached $10.35 billion, exceeding analyst estimates and marking a 1.3% increase compared to the same quarter last year.
• Analyst ratings for Northrop Grumman are generally positive, with a consensus rating of "Moderate Buy" and a price target averaging $588.85.

United Services Automobile Association purchased a new position in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,078 shares of the aerospace company's stock, valued at approximately $1,577,000.

A number of other large investors also recently added to or reduced their stakes in NOC. Brighton Jones LLC lifted its stake in Northrop Grumman by 176.3% during the fourth quarter. Brighton Jones LLC now owns 2,970 shares of the aerospace company's stock worth $1,394,000 after purchasing an additional 1,895 shares in the last quarter. Bank Pictet & Cie Europe AG raised its stake in shares of Northrop Grumman by 2.2% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company's stock valued at $472,000 after acquiring an additional 22 shares in the last quarter. Bison Wealth LLC raised its stake in shares of Northrop Grumman by 5.3% in the fourth quarter. Bison Wealth LLC now owns 641 shares of the aerospace company's stock valued at $301,000 after acquiring an additional 32 shares in the last quarter. Clark Capital Management Group Inc. acquired a new stake in shares of Northrop Grumman in the fourth quarter valued at $236,000. Finally, First Manhattan CO. LLC. raised its stake in shares of Northrop Grumman by 1.4% in the fourth quarter. First Manhattan CO. LLC. now owns 2,938 shares of the aerospace company's stock valued at $1,379,000 after acquiring an additional 40 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Northrop Grumman

In other news, VP Thomas H. Jones sold 729 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $505.77, for a total transaction of $368,706.33. Following the completion of the sale, the vice president owned 7,552 shares in the company, valued at approximately $3,819,575.04. This represents a 8.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kathy J. Warden sold 7,500 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $505.77, for a total transaction of $3,793,275.00. Following the sale, the chief executive officer owned 201,602 shares of the company's stock, valued at $101,964,243.54. This trade represents a 3.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,512 shares of company stock worth $7,805,146. Company insiders own 0.23% of the company's stock.

Wall Street Analyst Weigh In

NOC has been the topic of several analyst reports. Susquehanna increased their price objective on Northrop Grumman from $557.00 to $650.00 and gave the company a "positive" rating in a research note on Tuesday, July 22nd. Sanford C. Bernstein reiterated a "market perform" rating on shares of Northrop Grumman in a research note on Monday, July 14th. Bank of America increased their target price on Northrop Grumman from $550.00 to $650.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Wells Fargo & Company reissued an "overweight" rating on shares of Northrop Grumman in a report on Tuesday, July 22nd. Finally, Wall Street Zen raised Northrop Grumman from a "hold" rating to a "buy" rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $588.85.

Northrop Grumman Stock Performance

Shares of NOC stock opened at $580.56 on Monday. The stock's 50-day moving average is $559.81 and its two-hundred day moving average is $514.26. The firm has a market cap of $83.12 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 5.56 and a beta of 0.13. Northrop Grumman Corporation has a 1 year low of $426.24 and a 1 year high of $600.99. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.15 billion. Northrop Grumman had a return on equity of 25.52% and a net margin of 9.74%.The business's quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the company posted $6.36 earnings per share. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. Analysts predict that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $2.31 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $9.24 annualized dividend and a dividend yield of 1.6%. Northrop Grumman's dividend payout ratio (DPR) is presently 34.06%.

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.

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