CNB Bank Raises Holdings in Northrop Grumman Corporation $NOC

CNB Bank boosted its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 0.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,521 shares of the aerospace company’s stock after buying an additional 19 shares during the quarter. CNB Bank’s holdings in Northrop Grumman were worth $1,260,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brookstone Capital Management lifted its holdings in Northrop Grumman by 121.0% in the 1st quarter. Brookstone Capital Management now owns 6,640 shares of the aerospace company’s stock worth $3,400,000 after buying an additional 3,635 shares during the period. First United Bank & Trust lifted its holdings in Northrop Grumman by 641.0% in the 2nd quarter. First United Bank & Trust now owns 778 shares of the aerospace company’s stock worth $389,000 after buying an additional 673 shares during the period. Fortem Financial Group LLC lifted its stake in shares of Northrop Grumman by 118.2% in the 1st quarter. Fortem Financial Group LLC now owns 1,104 shares of the aerospace company’s stock valued at $565,000 after purchasing an additional 598 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Northrop Grumman by 12.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 792,707 shares of the aerospace company’s stock valued at $405,874,000 after purchasing an additional 86,215 shares during the period. Finally, Jones Financial Companies Lllp lifted its stake in shares of Northrop Grumman by 1,989.8% in the 1st quarter. Jones Financial Companies Lllp now owns 125,867 shares of the aerospace company’s stock valued at $64,445,000 after purchasing an additional 119,844 shares during the period. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Price Performance

NYSE NOC opened at $605.67 on Friday. The company has a market capitalization of $86.44 billion, a PE ratio of 21.79, a price-to-earnings-growth ratio of 5.02 and a beta of 0.10. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.93 and a current ratio of 1.11. The business’s fifty day moving average is $594.41 and its 200 day moving average is $540.62. Northrop Grumman Corporation has a fifty-two week low of $426.24 and a fifty-two week high of $640.90.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Tuesday, October 21st. The aerospace company reported $7.67 EPS for the quarter, beating the consensus estimate of $6.43 by $1.24. Northrop Grumman had a return on equity of 25.49% and a net margin of 9.82%.The business had revenue of $10.42 billion for the quarter, compared to the consensus estimate of $10.68 billion. During the same period in the previous year, the business earned $7.00 earnings per share. The business’s revenue was up 4.3% on a year-over-year basis. Northrop Grumman has set its FY 2025 guidance at 25.650-26.050 EPS. Sell-side analysts predict that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd were given a $2.31 dividend. This represents a $9.24 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Tuesday, September 2nd. Northrop Grumman’s payout ratio is presently 33.24%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Sanford C. Bernstein set a $696.00 price objective on Northrop Grumman in a research report on Thursday. Deutsche Bank Aktiengesellschaft set a $700.00 price objective on Northrop Grumman and gave the company a “buy” rating in a research report on Wednesday, October 8th. Morgan Stanley raised their price objective on Northrop Grumman from $625.00 to $720.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. UBS Group raised their price objective on Northrop Grumman to $770.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Truist Financial lifted their target price on Northrop Grumman from $625.00 to $688.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Northrop Grumman currently has a consensus rating of “Moderate Buy” and an average target price of $642.73.

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.