Short Interest in Northrop Grumman Corporation (NYSE:NOC) Drops By 20.8%

Key Points

• Short interest in Northrop Grumman has decreased by 20.8% in August, dropping to 1,750,000 shares from 2,210,000 shares.
• Institutional investors and hedge funds currently own 83.40% of Northrop Grumman's stock, with significant increases in positions from firms like Valeo Financial Advisors and Osaic Holdings.
• The company reported $7.11 EPS for the last quarter, exceeding expectations, and set a FY 2025 guidance of 25.000-25.400 EPS.

Northrop Grumman Corporation (NYSE:NOC - Get Free Report) was the recipient of a large decrease in short interest during the month of August. As of August 31st, there was short interest totaling 1,750,000 shares, a decrease of 20.8% from the August 15th total of 2,210,000 shares. Based on an average daily volume of 764,100 shares, the short-interest ratio is presently 2.3 days. Currently, 1.2% of the company's stock are sold short. Currently, 1.2% of the company's stock are sold short. Based on an average daily volume of 764,100 shares, the short-interest ratio is presently 2.3 days.

Institutional Trading of Northrop Grumman

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC raised its position in Northrop Grumman by 49.2% in the second quarter. Valeo Financial Advisors LLC now owns 3,796 shares of the aerospace company's stock valued at $1,898,000 after purchasing an additional 1,251 shares during the period. Osaic Holdings Inc. raised its position in Northrop Grumman by 12.6% in the second quarter. Osaic Holdings Inc. now owns 70,945 shares of the aerospace company's stock valued at $35,616,000 after purchasing an additional 7,929 shares during the period. Evolution Wealth Management Inc. purchased a new stake in Northrop Grumman in the second quarter valued at approximately $110,000. Orion Porfolio Solutions LLC raised its position in Northrop Grumman by 7.9% in the second quarter. Orion Porfolio Solutions LLC now owns 17,642 shares of the aerospace company's stock valued at $8,820,000 after purchasing an additional 1,293 shares during the period. Finally, Provident Investment Management Inc. raised its position in Northrop Grumman by 11.2% in the second quarter. Provident Investment Management Inc. now owns 2,222 shares of the aerospace company's stock valued at $1,111,000 after purchasing an additional 224 shares during the period. Hedge funds and other institutional investors own 83.40% of the company's stock.

Northrop Grumman Price Performance

NOC traded down $3.34 during trading on Thursday, reaching $573.74. The company's stock had a trading volume of 374,865 shares, compared to its average volume of 955,389. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The firm has a fifty day simple moving average of $571.64 and a two-hundred day simple moving average of $520.17. Northrop Grumman has a 1 year low of $426.24 and a 1 year high of $600.99. The company has a market cap of $82.15 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 5.55 and a beta of 0.13.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 EPS for the quarter, beating the consensus estimate of $6.84 by $0.27. The firm had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.15 billion. Northrop Grumman had a net margin of 9.74% and a return on equity of 25.52%. The business's revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.36 EPS. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. As a group, analysts anticipate that Northrop Grumman will post 28.05 EPS for the current year.

Northrop Grumman Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders 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 dividend on an annualized basis and a yield of 1.6%. Northrop Grumman's payout ratio is presently 34.06%.

Analysts Set New Price Targets

NOC has been the subject 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 report on Tuesday, July 22nd. Wells Fargo & Company restated an "overweight" rating on shares of Northrop Grumman in a research note on Tuesday, July 22nd. Robert W. Baird raised their target price on Northrop Grumman from $547.00 to $565.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. raised their target price on Northrop Grumman from $480.00 to $585.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Finally, Susquehanna raised their target price on Northrop Grumman from $557.00 to $650.00 and gave the stock a "positive" rating in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Northrop Grumman has an average rating of "Moderate Buy" and a consensus 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.

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