Eastern Bank Sells 30 Shares of Northrop Grumman Corporation $NOC

Eastern Bank lessened its stake in Northrop Grumman Corporation (NYSE:NOC) by 3.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 940 shares of the aerospace company’s stock after selling 30 shares during the quarter. Eastern Bank’s holdings in Northrop Grumman were worth $470,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. IMA Advisory Services Inc. purchased a new position in Northrop Grumman in the 1st quarter valued at approximately $27,000. Saudi Central Bank purchased a new position in Northrop Grumman in the 1st quarter valued at approximately $28,000. Banque Cantonale Vaudoise purchased a new position in Northrop Grumman in the 1st quarter valued at approximately $30,000. Flaharty Asset Management LLC purchased a new position in Northrop Grumman in the 1st quarter valued at approximately $36,000. Finally, Hollencrest Capital Management grew its stake in Northrop Grumman by 790.0% in the 1st quarter. Hollencrest Capital Management now owns 89 shares of the aerospace company’s stock valued at $45,000 after buying an additional 79 shares in the last quarter. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NOC has been the subject of a number of recent research reports. Bank of America lifted their price objective on shares of Northrop Grumman from $550.00 to $650.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Susquehanna lifted their price objective on shares of Northrop Grumman from $557.00 to $650.00 and gave the company a “positive” rating in a research note on Tuesday, July 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Northrop Grumman in a research report on Saturday, September 27th. Truist Financial restated a “buy” rating and set a $625.00 price target (up from $550.00) on shares of Northrop Grumman in a research report on Wednesday, July 23rd. Finally, Wall Street Zen upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $601.00.

Northrop Grumman Stock Down 1.8%

Shares of NYSE:NOC opened at $623.51 on Friday. Northrop Grumman Corporation has a 52-week low of $426.24 and a 52-week high of $640.90. The firm has a fifty day moving average of $590.32 and a 200 day moving average of $533.84. The firm has a market capitalization of $89.28 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 5.97 and a beta of 0.10. 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 (NYSE:NOC) last announced its earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.84 by $0.27. Northrop Grumman had a net margin of 9.74% and a return on equity of 25.52%. The company had revenue of $10.35 billion during the quarter, compared to analyst estimates of $10.15 billion. During the same period in the previous year, the business earned $6.36 earnings per share. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. As a group, research analysts anticipate that Northrop Grumman Corporation will post 28.05 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Tuesday, September 2nd were given a $2.31 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $9.24 annualized dividend and a yield of 1.5%. Northrop Grumman’s payout ratio is 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.