Northrop Grumman Corporation $NOC Stock Position Reduced by Teacher Retirement System of Texas

Teacher Retirement System of Texas cut its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 43.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 59,402 shares of the aerospace company’s stock after selling 45,674 shares during the period. Teacher Retirement System of Texas’ holdings in Northrop Grumman were worth $29,700,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NOC. Wellington Management Group LLP grew its position in Northrop Grumman by 23.4% during the first quarter. Wellington Management Group LLP now owns 5,139,333 shares of the aerospace company’s stock valued at $2,631,390,000 after purchasing an additional 974,633 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in Northrop Grumman by 1,425.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,001,198 shares of the aerospace company’s stock valued at $512,624,000 after purchasing an additional 935,554 shares in the last quarter. Nuveen LLC purchased a new position in Northrop Grumman during the first quarter valued at approximately $369,205,000. Vanguard Group Inc. grew its position in Northrop Grumman by 4.6% during the first quarter. Vanguard Group Inc. now owns 13,266,301 shares of the aerospace company’s stock valued at $6,792,479,000 after purchasing an additional 588,520 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in Northrop Grumman by 98.8% during the first quarter. AQR Capital Management LLC now owns 899,114 shares of the aerospace company’s stock valued at $460,355,000 after purchasing an additional 446,940 shares in the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $700.00 target price on shares of Northrop Grumman and gave the company a “buy” rating in a research note on Wednesday, October 8th. Wells Fargo & Company reiterated an “overweight” rating on shares of Northrop Grumman in a research note on Tuesday, July 22nd. UBS Group lifted their target price on shares of Northrop Grumman to $770.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Bank of America lifted their target price 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. Finally, BTIG Research lifted their target price on shares of Northrop Grumman from $630.00 to $680.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $642.73.

Northrop Grumman Price Performance

Shares of Northrop Grumman stock opened at $596.17 on Tuesday. The firm has a fifty day simple moving average of $594.64 and a 200-day simple moving average of $541.74. The company has a current ratio of 1.11, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. Northrop Grumman Corporation has a 1-year low of $426.24 and a 1-year high of $640.90. The stock has a market capitalization of $85.09 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 5.24 and a beta of 0.10.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Tuesday, October 21st. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.43 by $1.24. Northrop Grumman had a net margin of 9.82% and a return on equity of 25.49%. The business had revenue of $10.42 billion for the quarter, compared to analyst estimates of $10.68 billion. During the same quarter in the previous year, the firm posted $7.00 earnings per share. Northrop Grumman’s revenue was up 4.3% compared to the same quarter last year. Northrop Grumman has set its FY 2025 guidance at 25.650-26.050 EPS. On average, sell-side analysts expect that Northrop Grumman Corporation will post 28.05 earnings per share for the current 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 dividend of $2.31 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $9.24 dividend on an annualized basis and a yield of 1.5%. Northrop Grumman’s payout ratio is 33.24%.

About Northrop Grumman

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.