GC Wealth Management RIA LLC Purchases Shares of 992 Northrop Grumman Corporation $NOC

GC Wealth Management RIA LLC acquired a new position in shares of Northrop Grumman Corporation (NYSE:NOC) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 992 shares of the aerospace company’s stock, valued at approximately $496,000.

Other hedge funds have also recently bought and sold shares of the company. IMA Advisory Services Inc. acquired a new position in Northrop Grumman during the first quarter worth $27,000. Saudi Central Bank acquired a new position in Northrop Grumman during the first quarter worth $28,000. Banque Cantonale Vaudoise acquired a new position in Northrop Grumman during the first quarter worth $30,000. Flaharty Asset Management LLC acquired a new position in Northrop Grumman during the first quarter worth $36,000. Finally, Hollencrest Capital Management increased its holdings in Northrop Grumman by 790.0% during 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 in the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Northrop Grumman Stock Up 2.6%

Shares of NOC opened at $609.53 on Wednesday. The firm has a market capitalization of $87.27 billion, a price-to-earnings ratio of 22.47, a PEG ratio of 5.69 and a beta of 0.13. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The business’s fifty day moving average price is $582.80 and its two-hundred day moving average price is $526.91. Northrop Grumman Corporation has a 52 week low of $426.24 and a 52 week high of $610.12.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.11 EPS for the quarter, beating analysts’ consensus estimates of $6.84 by $0.27. The firm had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.15 billion. Northrop Grumman had a return on equity of 25.52% and a net margin of 9.74%.The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the company earned $6.36 EPS. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. On average, analysts predict that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The business also recently declared 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 dividend payout ratio (DPR) is currently 34.06%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NOC shares. Barclays raised their price target on Northrop Grumman from $500.00 to $580.00 and gave the company an “equal weight” rating in a report on Tuesday, July 29th. Robert W. Baird raised their price target on Northrop Grumman from $547.00 to $565.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Royal Bank Of Canada raised their price target on Northrop Grumman from $600.00 to $625.00 and gave the company an “outperform” rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. raised their price target 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 raised their price target 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 issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, Northrop Grumman presently has a consensus rating of “Moderate Buy” and a consensus target price of $588.85.

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.