Vident Advisory LLC Buys 89,052 Shares of Northrop Grumman Corporation $NOC

Key Points

• Vident Advisory LLC increased its stake in Northrop Grumman Corporation by 168.4% in the first quarter, bringing its holdings to 141,947 shares valued at approximately $72.68 million.
• Multiple institutional investors have also increased their positions in Northrop Grumman, with 83.40% of the stock currently owned by institutional investors and hedge funds.
• Northrop Grumman recently announced a quarterly dividend of $2.31 per share, with a dividend yield of 1.6% and a payout ratio of 34.06%.

Vident Advisory LLC raised its position in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 168.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 141,947 shares of the aerospace company's stock after purchasing an additional 89,052 shares during the period. Northrop Grumman accounts for approximately 1.1% of Vident Advisory LLC's holdings, making the stock its 17th biggest position. Vident Advisory LLC owned approximately 0.10% of Northrop Grumman worth $72,679,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Evergreen Capital Management LLC boosted its stake in Northrop Grumman by 21.7% during the 1st quarter. Evergreen Capital Management LLC now owns 1,059 shares of the aerospace company's stock valued at $542,000 after purchasing an additional 189 shares during the period. Clough Capital Partners L P raised its position in shares of Northrop Grumman by 38.6% during the 1st quarter. Clough Capital Partners L P now owns 20,163 shares of the aerospace company's stock worth $10,324,000 after buying an additional 5,620 shares in the last quarter. WPG Advisers LLC bought a new stake in shares of Northrop Grumman during the 1st quarter worth about $137,000. Itau Unibanco Holding S.A. bought a new stake in shares of Northrop Grumman during the 1st quarter worth about $1,962,000. Finally, Guggenheim Capital LLC raised its position in shares of Northrop Grumman by 59.3% during the 1st quarter. Guggenheim Capital LLC now owns 32,109 shares of the aerospace company's stock worth $16,440,000 after buying an additional 11,959 shares in the last quarter. 83.40% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Stock Down 1.8%

Northrop Grumman stock traded down $10.57 during trading hours on Wednesday, hitting $578.75. The company had a trading volume of 200,529 shares, compared to its average volume of 970,932. The firm has a market capitalization of $82.87 billion, a P/E ratio of 21.33, a price-to-earnings-growth ratio of 5.65 and a beta of 0.13. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The firm's fifty day moving average is $554.51 and its 200-day moving average is $510.77. Northrop Grumman Corporation has a fifty-two week low of $426.24 and a fifty-two week high of $600.99.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.11 EPS for the quarter, topping analysts' consensus estimates of $6.84 by $0.27. The firm had revenue of $10.35 billion for the quarter, compared to the consensus estimate of $10.15 billion. Northrop Grumman had a return on equity of 25.52% and a net margin of 9.74%.The firm's revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.36 earnings per share. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. On average, research analysts forecast that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd will be given a $2.31 dividend. This represents a $9.24 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Northrop Grumman's payout ratio is currently 34.06%.

Insiders Place Their Bets

In related news, VP Thomas H. Jones sold 729 shares of the company's stock in a transaction on 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 directly owned 7,552 shares of the company's stock, valued at approximately $3,819,575.04. This represents a 8.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert J. Fleming sold 3,500 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $505.77, for a total value of $1,770,195.00. Following the transaction, the vice president owned 1,827 shares of the company's stock, valued at approximately $924,041.79. This trade represents a 65.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,545 shares of company stock valued at $7,821,267 over the last ninety days. Corporate insiders own 0.23% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on NOC. Bank of America boosted their price target 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. Royal Bank Of Canada boosted their price target on shares of Northrop Grumman from $600.00 to $625.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Sanford C. Bernstein restated a "market perform" rating on shares of Northrop Grumman in a research report on Monday, July 14th. Robert W. Baird boosted their price target on shares of Northrop Grumman from $547.00 to $565.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Finally, Truist Financial restated a "buy" rating and set a $625.00 price target (up from $550.00) on shares of Northrop Grumman in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $588.85.

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.