Oppenheimer Asset Management Inc. Sells 227 Shares of Northrop Grumman Corporation $NOC

Oppenheimer Asset Management Inc. cut its stake in Northrop Grumman Corporation (NYSE:NOC) by 7.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,767 shares of the aerospace company’s stock after selling 227 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Northrop Grumman were worth $1,383,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Wellington Management Group LLP grew its stake in Northrop Grumman by 23.4% in 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 during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Northrop Grumman by 1,425.2% in the 1st 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 buying an additional 935,554 shares in the last quarter. Nuveen LLC bought a new position in shares of Northrop Grumman during the 1st quarter worth approximately $369,205,000. Vanguard Group Inc. raised its stake in shares of Northrop Grumman by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 13,266,301 shares of the aerospace company’s stock worth $6,792,479,000 after acquiring an additional 588,520 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Northrop Grumman by 98.8% in the first quarter. AQR Capital Management LLC now owns 899,114 shares of the aerospace company’s stock valued at $460,355,000 after acquiring an additional 446,940 shares in the last quarter. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Trading Down 1.2%

Northrop Grumman stock opened at $577.99 on Friday. The stock has a 50-day moving average price of $594.27 and a 200 day moving average price of $542.89. The company has a market capitalization of $82.49 billion, a price-to-earnings ratio of 20.79, a price-to-earnings-growth ratio of 5.07 and a beta of 0.10. Northrop Grumman Corporation has a 52 week low of $426.24 and a 52 week high of $640.90. The company has a quick ratio of 0.98, a current ratio of 1.11 and a debt-to-equity ratio of 0.95.

Northrop Grumman (NYSE:NOC) last posted its quarterly 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. The company had revenue of $10.42 billion during the quarter, compared to analyst estimates of $10.68 billion. Northrop Grumman had a net margin of 9.82% and a return on equity of 25.49%. Northrop Grumman’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the firm posted $7.00 EPS. Northrop Grumman has set its FY 2025 guidance at 25.650-26.050 EPS. Sell-side analysts anticipate that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Dividend Announcement

The business also recently disclosed 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 was Tuesday, September 2nd. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.6%. Northrop Grumman’s dividend payout ratio (DPR) is presently 33.24%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NOC. UBS Group upped their price target on Northrop Grumman to $770.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft set a $700.00 target price on Northrop Grumman and gave the company a “buy” rating in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price target on Northrop Grumman from $575.00 to $640.00 and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Barclays upped their price objective on shares of Northrop Grumman from $500.00 to $580.00 and gave the company an “equal weight” rating in a report on Tuesday, July 29th. Finally, Truist Financial lifted their target price on shares of Northrop Grumman from $625.00 to $688.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $642.73.

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.