Northrop Grumman (NYSE:NOC) Reaches New 1-Year High - Here's What Happened

Key Points

• Northrop Grumman's stock reached a new 52-week high of $604.13, closing at $599.73 with a trading volume of 29,650 shares.
• Analysts are optimistic, with Truist Financial setting a price target of $625.00 and the stock receiving an average rating of "Moderate Buy" with a consensus price target of $588.85.
• The company reported $7.11 earnings per share for its recent quarter, exceeding expectations and showing a gradual revenue increase on a year-over-year basis.

Northrop Grumman Corporation (NYSE:NOC - Get Free Report) shares reached a new 52-week high during trading on Monday . The stock traded as high as $604.13 and last traded at $599.73, with a volume of 29650 shares trading hands. The stock had previously closed at $594.52.

Wall Street Analyst Weigh In

Several research firms recently commented on NOC. Truist Financial reaffirmed a "buy" rating and issued a $625.00 price objective (up from $550.00) on shares of Northrop Grumman in a research report on Wednesday, July 23rd. Robert W. Baird upped their target price on shares of Northrop Grumman from $547.00 to $565.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $542.00 price target (down previously from $580.00) on shares of Northrop Grumman in a research note on Tuesday, July 8th. Royal Bank Of Canada upped their price target on shares of Northrop Grumman from $600.00 to $625.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Finally, Wells Fargo & Company reiterated an "overweight" rating on shares of Northrop Grumman in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $588.85.

Northrop Grumman Trading Up 0.2%

The company has a market cap of $85.31 billion, a price-to-earnings ratio of 21.98, a price-to-earnings-growth ratio of 5.69 and a beta of 0.13. The business's fifty day moving average price is $580.34 and its 200 day moving average price is $525.58. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its 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 for the quarter, compared to analyst estimates of $10.15 billion. During the same quarter in the previous year, the business earned $6.36 earnings per share. Northrop Grumman's revenue for the quarter was up 1.3% on a year-over-year basis. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. Research analysts anticipate that Northrop Grumman Corporation will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

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

Hedge Funds Weigh In On Northrop Grumman

Several institutional investors have recently made changes to their positions in NOC. Parvin Asset Management LLC acquired a new position in shares of Northrop Grumman during the second quarter valued at about $25,000. IMA Advisory Services Inc. purchased a new stake in shares of Northrop Grumman during the 1st quarter valued at approximately $27,000. Saudi Central Bank purchased a new stake in shares of Northrop Grumman during the 1st quarter valued at approximately $28,000. Banque Cantonale Vaudoise purchased a new stake in shares of Northrop Grumman during the 1st quarter valued at approximately $30,000. Finally, NewSquare Capital LLC lifted its stake in Northrop Grumman by 75.0% in the 2nd quarter. NewSquare Capital LLC now owns 63 shares of the aerospace company's stock worth $31,000 after purchasing an additional 27 shares in the last quarter. Institutional investors and hedge funds own 83.40% of the company's stock.

Northrop Grumman Company 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.

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