Wedmont Private Capital Has $1.67 Million Position in Northrop Grumman Corporation $NOC

Key Points

• Wedmont Private Capital significantly increased its stake in Northrop Grumman by 161.6% during the 2nd quarter, raising its holdings to 3,286 shares valued at approximately $1.67 million.
• Northrop Grumman's most recent earnings report showed an EPS of $7.11, exceeding analyst estimates, with revenues of $10.35 billion for the quarter.
• Several analysts have raised their price targets for Northrop Grumman, with Bank of America now projecting a target of $650, rating the stock as a "buy."

Wedmont Private Capital boosted its holdings in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 161.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,286 shares of the aerospace company's stock after buying an additional 2,030 shares during the quarter. Wedmont Private Capital's holdings in Northrop Grumman were worth $1,669,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. KMG Fiduciary Partners LLC raised its holdings in Northrop Grumman by 3.6% in the 2nd quarter. KMG Fiduciary Partners LLC now owns 6,961 shares of the aerospace company's stock valued at $3,481,000 after buying an additional 242 shares during the last quarter. Sovran Advisors LLC raised its holdings in Northrop Grumman by 9.1% in the 2nd quarter. Sovran Advisors LLC now owns 503 shares of the aerospace company's stock valued at $254,000 after buying an additional 42 shares during the last quarter. Dynamic Advisor Solutions LLC raised its holdings in Northrop Grumman by 5.6% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 12,718 shares of the aerospace company's stock valued at $6,359,000 after buying an additional 676 shares during the last quarter. Stokes Capital Advisors LLC raised its holdings in Northrop Grumman by 2.8% in the 2nd quarter. Stokes Capital Advisors LLC now owns 16,060 shares of the aerospace company's stock valued at $8,030,000 after buying an additional 440 shares during the last quarter. Finally, Balefire LLC acquired a new stake in Northrop Grumman during the 2nd quarter valued at approximately $221,000. Institutional investors own 83.40% of the company's stock.

Northrop Grumman Trading Up 0.6%

Shares of NOC stock traded up $3.57 during trading hours on Monday, hitting $576.60. 566,654 shares of the company were exchanged, compared to its average volume of 692,305. The firm has a market cap of $82.56 billion, a P/E ratio of 21.25, a P/E/G ratio of 5.49 and a beta of 0.13. Northrop Grumman Corporation has a fifty-two week low of $426.24 and a fifty-two week 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. The company has a 50 day simple moving average of $575.08 and a two-hundred day simple moving average of $522.88.

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 (EPS) for the quarter, beating the consensus estimate of $6.84 by $0.27. Northrop Grumman had a net margin of 9.74% and a return on equity of 25.52%. The business had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.15 billion. During the same quarter last year, the firm posted $6.36 EPS. Northrop Grumman's revenue was up 1.3% compared to the same quarter last year. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. Equities analysts anticipate that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Tuesday, September 2nd were given a $2.31 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $9.24 annualized dividend and a yield of 1.6%. Northrop Grumman's dividend payout ratio (DPR) is presently 34.06%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Wells Fargo & Company reissued an "overweight" rating on shares of Northrop Grumman in a research report on Tuesday, July 22nd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $542.00 target price (down previously from $580.00) on shares of Northrop Grumman in a research report on Tuesday, July 8th. Barclays increased their target price on shares of Northrop Grumman from $500.00 to $580.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Royal Bank Of Canada increased their target price on shares of Northrop Grumman from $600.00 to $625.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Finally, Bank of America increased their target price on shares of Northrop Grumman from $550.00 to $650.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. One investment 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 company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $588.85.

Northrop Grumman Profile

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.