Means Investment CO. Inc. Cuts Stock Position in Northrop Grumman Corporation $NOC

Means Investment CO. Inc. cut its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 5.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 2,207 shares of the aerospace company’s stock after selling 132 shares during the period. Means Investment CO. Inc.’s holdings in Northrop Grumman were worth $1,104,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. IMA Advisory Services Inc. purchased a new position in Northrop Grumman in the 1st quarter valued at about $27,000. Saudi Central Bank purchased a new position in shares of Northrop Grumman in the first quarter valued at approximately $28,000. Banque Cantonale Vaudoise acquired a new stake in shares of Northrop Grumman in the first quarter worth approximately $30,000. Flaharty Asset Management LLC purchased a new stake in shares of Northrop Grumman during the first quarter worth approximately $36,000. Finally, Hollencrest Capital Management raised its stake in Northrop Grumman by 790.0% in the 1st quarter. Hollencrest Capital Management now owns 89 shares of the aerospace company’s stock valued at $45,000 after purchasing an additional 79 shares during the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Stock Down 1.8%

NOC stock opened at $623.51 on Friday. Northrop Grumman Corporation has a one year low of $426.24 and a one year high of $640.90. The firm has a market cap of $89.28 billion, a PE ratio of 22.98, a PEG ratio of 5.97 and a beta of 0.10. The firm’s 50 day moving average price is $590.32 and its 200-day moving average price is $533.84. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $10.15 billion. During the same quarter last year, the firm earned $6.36 earnings per share. The firm’s quarterly 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. On average, equities research analysts anticipate that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Tuesday, September 2nd were issued a $2.31 dividend. This represents a $9.24 annualized dividend and a yield of 1.5%. The ex-dividend date was Tuesday, September 2nd. Northrop Grumman’s payout ratio is 34.06%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Truist Financial reaffirmed a “buy” rating and set a $625.00 target price (up previously from $550.00) on shares of Northrop Grumman in a research note on Wednesday, July 23rd. Bank of America upped their price objective on shares of Northrop Grumman from $550.00 to $650.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Wall Street Zen raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. Royal Bank Of Canada upped their price target on Northrop Grumman from $600.00 to $625.00 and gave the company an “outperform” rating in a research report on Tuesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft set a $700.00 price objective on Northrop Grumman and gave the stock a “buy” rating in a research report on Wednesday. One investment 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $601.00.

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.