Strs Ohio Takes $17.37 Million Position in Northrop Grumman Corporation $NOC

Strs Ohio acquired a new stake in shares of Northrop Grumman Corporation (NYSE:NOC) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 33,928 shares of the aerospace company’s stock, valued at approximately $17,371,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NOC. IMA Advisory Services Inc. purchased a new position in Northrop Grumman in the first quarter worth about $27,000. Saudi Central Bank purchased a new position in Northrop Grumman in the first quarter worth about $28,000. Banque Cantonale Vaudoise purchased a new position in Northrop Grumman in the first quarter worth about $30,000. Wood Tarver Financial Group LLC purchased a new position in Northrop Grumman in the fourth quarter worth about $32,000. Finally, Flaharty Asset Management LLC purchased a new position in Northrop Grumman in the first quarter worth about $36,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NOC. JPMorgan Chase & Co. lifted their price target on Northrop Grumman from $480.00 to $585.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 23rd. Sanford C. Bernstein reiterated a “market perform” rating on shares of Northrop Grumman in a research report on Monday, July 14th. Royal Bank Of Canada raised their price objective on shares of Northrop Grumman from $600.00 to $625.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 22nd. Wall Street Zen raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. Finally, Wells Fargo & Company reissued an “overweight” rating on shares of Northrop Grumman in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $588.85.

Northrop Grumman Stock Performance

Northrop Grumman stock opened at $575.91 on Friday. The company has a 50 day moving average price of $567.43 and a 200-day moving average price of $517.73. 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 Corporation has a fifty-two week low of $426.24 and a fifty-two week high of $600.99. The company has a market capitalization of $82.46 billion, a PE ratio of 21.23, a P/E/G ratio of 5.58 and a beta of 0.13.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share for the quarter, beating 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 firm had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.15 billion. During the same quarter in the previous year, the firm posted $6.36 earnings per share. The company’s revenue was up 1.3% on a year-over-year basis. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. As a group, equities analysts forecast that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $2.31 per share. This represents a $9.24 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Northrop Grumman’s payout ratio is currently 34.06%.

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.