VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Northrop Grumman Corporation $NOC

Key Points

• The Virginia Retirement Systems purchased 58,100 shares of Northrop Grumman Corporation, valued at approximately $29 million, during the second quarter.
• Northrop Grumman recently declared a quarterly dividend of $2.31 per share, yielding about 1.6% annually with a payout ratio of 34.06%.
• Analysts have raised their price targets for Northrop Grumman, with estimates ranging from $585 to $700, reflecting a generally positive outlook on the stock.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 58,100 shares of the aerospace company's stock, valued at approximately $29,049,000.

A number of other large investors also recently added to or reduced their stakes in the company. Capital Investment Advisors LLC lifted its stake in Northrop Grumman by 1.0% during the second quarter. Capital Investment Advisors LLC now owns 2,049 shares of the aerospace company's stock worth $1,025,000 after purchasing an additional 20 shares in the last quarter. Tyche Wealth Partners LLC lifted its stake in Northrop Grumman by 2.5% during the second quarter. Tyche Wealth Partners LLC now owns 830 shares of the aerospace company's stock worth $415,000 after purchasing an additional 20 shares in the last quarter. Integrated Investment Consultants LLC lifted its stake in Northrop Grumman by 3.9% during the first quarter. Integrated Investment Consultants LLC now owns 553 shares of the aerospace company's stock worth $283,000 after purchasing an additional 21 shares in the last quarter. Ameriflex Group Inc. lifted its stake in Northrop Grumman by 3.6% during the second quarter. Ameriflex Group Inc. now owns 611 shares of the aerospace company's stock worth $301,000 after purchasing an additional 21 shares in the last quarter. Finally, Clearstead Trust LLC lifted its stake in Northrop Grumman by 12.8% during the first quarter. Clearstead Trust LLC now owns 194 shares of the aerospace company's stock worth $99,000 after purchasing an additional 22 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NOC has been the topic of several analyst reports. Royal Bank Of Canada increased their price objective on Northrop Grumman from $600.00 to $625.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Deutsche Bank Aktiengesellschaft set a $700.00 target price on Northrop Grumman and gave the company a "buy" rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their target price on Northrop Grumman from $480.00 to $585.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Susquehanna lifted their target price on Northrop Grumman from $557.00 to $650.00 and gave the company a "positive" rating in a report on Tuesday, July 22nd. Finally, Wells Fargo & Company reiterated an "overweight" rating on shares of Northrop Grumman in a report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $613.15.

Northrop Grumman Stock Down 0.8%

Northrop Grumman stock opened at $594.15 on Monday. Northrop Grumman Corporation has a 1-year low of $426.24 and a 1-year high of $640.90. 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 stock has a market cap of $85.07 billion, a PE ratio of 21.90, a P/E/G ratio of 5.78 and a beta of 0.10. The stock's fifty day moving average is $592.48 and its two-hundred day moving average is $537.35.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $10.15 billion. During the same period last year, the firm earned $6.36 earnings per share. Northrop Grumman's quarterly revenue was up 1.3% on a year-over-year basis. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. On average, sell-side analysts expect that Northrop Grumman Corporation will post 28.05 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd were paid a $2.31 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $9.24 dividend on an annualized basis and a yield of 1.6%. Northrop Grumman's dividend payout ratio (DPR) is currently 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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