Advisors Capital Management LLC Sells 85 Shares of Northrop Grumman Corporation $NOC

Advisors Capital Management LLC cut its position in Northrop Grumman Corporation (NYSE:NOC) by 5.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,351 shares of the aerospace company’s stock after selling 85 shares during the period. Advisors Capital Management LLC’s holdings in Northrop Grumman were worth $692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. IMA Advisory Services Inc. bought a new stake in Northrop Grumman in the 1st quarter valued at $27,000. Saudi Central Bank bought a new stake in Northrop Grumman in the 1st quarter valued at $28,000. Banque Cantonale Vaudoise bought a new stake in Northrop Grumman in the 1st quarter valued at $30,000. Wood Tarver Financial Group LLC bought a new stake in Northrop Grumman in the 4th quarter valued at $32,000. Finally, Flaharty Asset Management LLC bought a new stake in Northrop Grumman in the 1st quarter valued at $36,000. 83.40% of the stock is currently owned by institutional investors.

Northrop Grumman Price Performance

Northrop Grumman stock opened at $575.91 on Friday. 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 Corporation has a 52 week low of $426.24 and a 52 week high of $600.99. The stock has a market capitalization of $82.46 billion, a P/E ratio of 21.23, a price-to-earnings-growth ratio of 5.58 and a beta of 0.13. The stock has a fifty day moving average of $567.43 and a 200-day moving average of $517.73.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 EPS for the quarter, topping analysts’ consensus estimates 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 in the previous year, the firm earned $6.36 EPS. Northrop Grumman’s revenue was up 1.3% on a year-over-year basis. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. On average, sell-side analysts expect that Northrop Grumman Corporation will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $2.31 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.6%. Northrop Grumman’s payout ratio is 34.06%.

Analysts Set New Price Targets

Several research firms recently issued reports on NOC. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $542.00 price target (down from $580.00) on shares of Northrop Grumman in a research note on Tuesday, July 8th. Susquehanna lifted their price objective on Northrop Grumman from $557.00 to $650.00 and gave the company a “positive” rating in a report on Tuesday, July 22nd. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Northrop Grumman in a report on Tuesday, July 22nd. JPMorgan Chase & Co. lifted their price objective on Northrop Grumman from $480.00 to $585.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Finally, Bank of America lifted their price objective on Northrop Grumman from $550.00 to $650.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $588.85.

Northrop Grumman Company 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.