Comerica Bank Lowers Holdings in Northrop Grumman Corporation $NOC

Comerica Bank lowered its position in Northrop Grumman Corporation (NYSE:NOC) by 4.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,165 shares of the aerospace company’s stock after selling 1,903 shares during the quarter. Comerica Bank’s holdings in Northrop Grumman were worth $23,637,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of 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 buying an additional 588,520 shares during the period. Wellington Management Group LLP grew its holdings in Northrop Grumman by 23.4% during the 1st quarter. Wellington Management Group LLP now owns 5,139,333 shares of the aerospace company’s stock worth $2,631,390,000 after acquiring an additional 974,633 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Northrop Grumman by 10.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,241,144 shares of the aerospace company’s stock valued at $1,147,489,000 after purchasing an additional 210,500 shares during the period. Invesco Ltd. raised its holdings in shares of Northrop Grumman by 12.1% in the 1st quarter. Invesco Ltd. now owns 1,944,186 shares of the aerospace company’s stock valued at $995,443,000 after purchasing an additional 210,506 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Northrop Grumman by 55,522.3% in the 1st quarter. GAMMA Investing LLC now owns 1,520,158 shares of the aerospace company’s stock valued at $778,336,000 after purchasing an additional 1,517,425 shares in the last quarter. 83.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on NOC shares. 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 report on Tuesday, July 22nd. JPMorgan Chase & Co. increased their target price on Northrop Grumman from $480.00 to $585.00 and gave the company a “neutral” rating in a research report on Wednesday, July 23rd. Bank of America boosted their price target on Northrop Grumman from $550.00 to $650.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Robert W. Baird raised their price objective on Northrop Grumman from $547.00 to $565.00 and gave the company a “neutral” rating in a research report on Wednesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $542.00 target price (down from $580.00) on shares of Northrop Grumman in a report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $586.79.

Insider Transactions at Northrop Grumman

In related news, VP Robert J. Fleming sold 3,500 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $505.77, for a total value of $1,770,195.00. Following the transaction, the vice president owned 1,827 shares in the company, valued at approximately $924,041.79. This represents a 65.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kathy J. Warden sold 7,500 shares of Northrop Grumman stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $505.77, for a total transaction of $3,793,275.00. Following the sale, the chief executive officer owned 201,602 shares of the company’s stock, valued at approximately $101,964,243.54. The trade was a 3.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,536 shares of company stock valued at $8,306,857. 0.23% of the stock is owned by company insiders.

Northrop Grumman Stock Down 0.9%

NYSE:NOC opened at $591.9790 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. Northrop Grumman Corporation has a twelve month low of $426.24 and a twelve month high of $600.99. The company has a market cap of $84.76 billion, a PE ratio of 21.82, a P/E/G ratio of 5.67 and a beta of 0.15. The company’s 50 day moving average is $541.47 and its two-hundred day moving average is $504.95.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.11 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 business had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.15 billion. During the same period in the previous year, the firm posted $6.36 earnings per share. The business’s revenue for the quarter 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. Analysts anticipate that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd will be issued a $2.31 dividend. The ex-dividend date of this dividend is 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 is currently 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.