Congress Asset Management Co. Sells 97 Shares of Northrop Grumman Corporation $NOC

Congress Asset Management Co. lessened its position in shares of Northrop Grumman Corporation (NYSE:NOC) by 13.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 599 shares of the aerospace company’s stock after selling 97 shares during the period. Congress Asset Management Co.’s holdings in Northrop Grumman were worth $299,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in NOC. IMA Advisory Services Inc. bought a new stake in shares of Northrop Grumman during the 1st quarter worth approximately $27,000. Saudi Central Bank bought a new position in Northrop Grumman in the 1st quarter valued at approximately $28,000. Banque Cantonale Vaudoise bought a new position in Northrop Grumman in the 1st quarter valued at approximately $30,000. Flaharty Asset Management LLC bought a new position in Northrop Grumman in the 1st quarter valued at approximately $36,000. Finally, Hollencrest Capital Management lifted 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 purchasing an additional 79 shares during the last quarter. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Trading Up 1.5%

Shares of NYSE NOC opened at $594.50 on Friday. 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 52-week low of $426.24 and a 52-week high of $600.99. The firm has a 50 day moving average price of $580.34 and a two-hundred day moving average price of $525.34. The stock has a market cap of $85.12 billion, a P/E ratio of 21.91, a price-to-earnings-growth ratio of 5.69 and a beta of 0.13.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share (EPS) 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 analysts’ expectations of $10.15 billion. During the same period in the prior year, the company posted $6.36 EPS. 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 EPS for the current year.

Northrop Grumman Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on NOC. Robert W. Baird increased their price objective on shares of Northrop Grumman from $547.00 to $565.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. Wall Street Zen raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. Royal Bank Of Canada increased their price objective on shares of Northrop Grumman from $600.00 to $625.00 and gave the company an “outperform” rating in a research note on Tuesday, July 22nd. Truist Financial reissued a “buy” rating and issued a $625.00 price objective (up previously from $550.00) on shares of Northrop Grumman in a research note on Wednesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $542.00 price objective (down previously from $580.00) on shares of Northrop Grumman in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $588.85.

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.