Lumbard & Kellner LLC Reduces Stock Holdings in Northrop Grumman Corporation $NOC

Lumbard & Kellner LLC lessened its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 26.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,870 shares of the aerospace company’s stock after selling 3,172 shares during the quarter. Northrop Grumman comprises about 1.9% of Lumbard & Kellner LLC’s holdings, making the stock its 23rd biggest holding. Lumbard & Kellner LLC’s holdings in Northrop Grumman were worth $4,435,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Saudi Central Bank acquired a new position in Northrop Grumman in the first quarter valued at $28,000. Banque Cantonale Vaudoise purchased a new stake in shares of Northrop Grumman in the 1st quarter valued at about $30,000. NewSquare Capital LLC lifted its holdings in shares of Northrop Grumman by 75.0% in the 2nd quarter. NewSquare Capital LLC now owns 63 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 27 shares during the last quarter. Flaharty Asset Management LLC acquired a new stake in shares of Northrop Grumman in the 1st quarter valued at about $36,000. Finally, AlphaQuest LLC grew its stake in Northrop Grumman by 29.2% during the 2nd quarter. AlphaQuest LLC now owns 93 shares of the aerospace company’s stock worth $46,000 after buying an additional 21 shares during the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Northrop Grumman news, Director Mark A. Welsh III sold 97 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $564.08, for a total transaction of $54,715.76. Following the sale, the director directly owned 4,281 shares in the company, valued at approximately $2,414,826.48. The trade was a 2.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.23% of the company’s stock.

Northrop Grumman Stock Up 1.0%

Shares of Northrop Grumman stock opened at $572.53 on Monday. Northrop Grumman Corporation has a one year low of $426.24 and a one year high of $640.90. The company has a market cap of $81.71 billion, a P/E ratio of 20.59, a PEG ratio of 5.07 and a beta of 0.07. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 1.11. The firm has a fifty day moving average of $588.32 and a two-hundred day moving average of $554.49.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Tuesday, October 21st. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.43 by $1.24. Northrop Grumman had a net margin of 9.82% and a return on equity of 25.49%. The firm had revenue of $10.42 billion during the quarter, compared to analysts’ expectations of $10.68 billion. During the same period in the prior year, the company posted $7.00 earnings per share. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. Northrop Grumman has set its FY 2025 guidance at 25.650-26.050 EPS. On average, analysts forecast 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 will be paid on Wednesday, December 17th. Shareholders of record on Monday, December 1st will be given a $2.31 dividend. The ex-dividend date is Monday, December 1st. This represents a $9.24 annualized dividend and a yield of 1.6%. Northrop Grumman’s dividend payout ratio is presently 33.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NOC shares. JPMorgan Chase & Co. boosted their price objective on Northrop Grumman from $575.00 to $640.00 and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Northrop Grumman in a research report on Tuesday, October 14th. BNP Paribas raised shares of Northrop Grumman to a “strong-buy” rating in a research report on Tuesday, November 18th. Truist Financial upped their target price on shares of Northrop Grumman from $625.00 to $688.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Finally, Sanford C. Bernstein set a $696.00 target price on shares of Northrop Grumman in a research note on Thursday, October 23rd. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $646.94.

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.