Phraction Management LLC Decreases Stake in Northrop Grumman Corporation $NOC

Phraction Management LLC cut its holdings in shares of Northrop Grumman Corporation (NYSE:NOC) by 3.7% in the 2nd quarter, Holdings Channel reports. The fund owned 2,568 shares of the aerospace company’s stock after selling 100 shares during the period. Phraction Management LLC’s holdings in Northrop Grumman were worth $1,284,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Northrop Grumman by 13.3% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,655 shares of the aerospace company’s stock valued at $1,328,000 after purchasing an additional 312 shares during the last quarter. River Street Advisors LLC raised its position in shares of Northrop Grumman by 7.0% in the 2nd quarter. River Street Advisors LLC now owns 3,384 shares of the aerospace company’s stock valued at $1,692,000 after purchasing an additional 220 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Northrop Grumman by 10.2% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,674 shares of the aerospace company’s stock valued at $9,837,000 after buying an additional 1,824 shares during the last quarter. Syntax Research Inc. acquired a new stake in shares of Northrop Grumman during the second quarter worth approximately $1,500,000. Finally, Cornell Pochily Investment Advisors Inc. increased its stake in shares of Northrop Grumman by 2.3% in the second quarter. Cornell Pochily Investment Advisors Inc. now owns 2,151 shares of the aerospace company’s stock worth $1,076,000 after buying an additional 49 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Wall Street Analysts Forecast Growth

NOC has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $542.00 price objective (down from $580.00) on shares of Northrop Grumman in a research note on Tuesday, July 8th. Robert W. Baird increased their price target on shares of Northrop Grumman from $547.00 to $565.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 23rd. Truist Financial reissued a “buy” rating and issued a $625.00 price objective (up from $550.00) on shares of Northrop Grumman in a report on Wednesday, July 23rd. Sanford C. Bernstein restated a “market perform” rating on shares of Northrop Grumman in a research note on Monday, July 14th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating on shares of Northrop Grumman in a report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, Northrop Grumman presently has a consensus rating of “Moderate Buy” and a consensus target price of $588.85.

Northrop Grumman Stock Down 0.1%

NOC stock opened at $604.89 on Friday. The stock has a market cap of $86.61 billion, a PE ratio of 22.30, a price-to-earnings-growth ratio of 5.80 and a beta of 0.10. The firm’s 50-day simple moving average is $584.29 and its 200 day simple moving average is $528.24. Northrop Grumman Corporation has a fifty-two week low of $426.24 and a fifty-two week high of $610.85. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 EPS for the quarter, topping the consensus estimate of $6.84 by $0.27. The firm had revenue of $10.35 billion during the quarter, compared to analysts’ expectations of $10.15 billion. Northrop Grumman had a net margin of 9.74% and a return on equity of 25.52%. Northrop Grumman’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.36 EPS. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. As a group, sell-side analysts predict that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Dividend Announcement

The firm 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 of this dividend was Tuesday, September 2nd. This represents a $9.24 annualized dividend and a yield of 1.5%. Northrop Grumman’s payout ratio is presently 34.06%.

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.