Bank of New York Mellon Corp Lowers Position in Northrop Grumman Corporation $NOC

Bank of New York Mellon Corp decreased its position in shares of Northrop Grumman Corporation (NYSE:NOC) by 7.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 829,795 shares of the aerospace company’s stock after selling 66,314 shares during the period. Bank of New York Mellon Corp owned about 0.58% of Northrop Grumman worth $414,881,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Freestone Capital Holdings LLC lifted its stake in shares of Northrop Grumman by 26.4% in the 2nd quarter. Freestone Capital Holdings LLC now owns 920 shares of the aerospace company’s stock valued at $460,000 after purchasing an additional 192 shares during the period. BCGM Wealth Management LLC grew its stake in Northrop Grumman by 1.2% in the second quarter. BCGM Wealth Management LLC now owns 6,693 shares of the aerospace company’s stock worth $3,346,000 after purchasing an additional 82 shares during the period. Telos Capital Management Inc. raised its holdings in Northrop Grumman by 0.9% in the second quarter. Telos Capital Management Inc. now owns 30,056 shares of the aerospace company’s stock worth $15,028,000 after purchasing an additional 275 shares in the last quarter. Sigma Planning Corp lifted its position in Northrop Grumman by 9.5% during the second quarter. Sigma Planning Corp now owns 6,364 shares of the aerospace company’s stock valued at $3,182,000 after buying an additional 550 shares during the period. Finally, Wakefield Asset Management LLLP purchased a new position in Northrop Grumman during the second quarter valued at $425,000. Institutional investors own 83.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on NOC shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Northrop Grumman in a research note on Tuesday, October 14th. Robert W. Baird upped their price objective on shares of Northrop Grumman from $547.00 to $565.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their target price on shares of Northrop Grumman from $575.00 to $640.00 and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Bank of America boosted their price target on Northrop Grumman from $550.00 to $650.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Finally, Truist Financial upped their price target on Northrop Grumman from $625.00 to $688.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $642.73.

Northrop Grumman Trading Up 0.3%

NYSE:NOC opened at $577.12 on Wednesday. Northrop Grumman Corporation has a 52 week low of $426.24 and a 52 week high of $640.90. The stock has a market cap of $82.37 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 5.07 and a beta of 0.10. The company’s 50 day moving average price is $593.58 and its 200-day moving average price is $543.86. The company has a quick ratio of 0.98, a current ratio of 1.11 and a debt-to-equity ratio of 0.95.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Tuesday, October 21st. The aerospace company reported $7.67 EPS for the quarter, topping analysts’ consensus estimates of $6.43 by $1.24. The business had revenue of $10.42 billion during the quarter, compared to analyst estimates of $10.68 billion. Northrop Grumman had a return on equity of 25.49% and a net margin of 9.82%.The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $7.00 EPS. Northrop Grumman has set its FY 2025 guidance at 25.650-26.050 EPS. On average, equities research analysts forecast that Northrop Grumman Corporation will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $2.31 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $9.24 annualized dividend and a yield of 1.6%. Northrop Grumman’s dividend payout ratio is currently 33.24%.

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.