QRG Capital Management Inc. Has $1.56 Million Holdings in Northrop Grumman Corporation $NOC

QRG Capital Management Inc. reduced its holdings in Northrop Grumman Corporation (NYSE:NOC) by 1.4% during the 2nd quarter, Holdings Channel reports. The fund owned 3,121 shares of the aerospace company’s stock after selling 43 shares during the quarter. QRG Capital Management Inc.’s holdings in Northrop Grumman were worth $1,560,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of NOC. IMA Advisory Services Inc. acquired a new position in Northrop Grumman during the 1st quarter worth $27,000. Saudi Central Bank acquired a new position in Northrop Grumman during the 1st quarter worth $28,000. Banque Cantonale Vaudoise acquired a new position in Northrop Grumman during the 1st quarter worth $30,000. Flaharty Asset Management LLC acquired a new position in Northrop Grumman during the 1st quarter worth $36,000. Finally, Hollencrest Capital Management lifted its holdings in Northrop Grumman by 790.0% during the 1st quarter. Hollencrest Capital Management now owns 89 shares of the aerospace company’s stock worth $45,000 after buying an additional 79 shares in the last quarter. 83.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Susquehanna upped their price objective on Northrop Grumman from $557.00 to $650.00 and gave the stock a “positive” rating in a report on Tuesday, July 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $542.00 price objective (down previously from $580.00) on shares of Northrop Grumman in a report on Tuesday, July 8th. Robert W. Baird upped their price objective on Northrop Grumman from $547.00 to $565.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Northrop Grumman in a research note on Saturday, September 27th. 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, nine have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Northrop Grumman currently has a consensus rating of “Moderate Buy” and a consensus target price of $588.85.

Northrop Grumman Stock Performance

Shares of Northrop Grumman stock opened at $622.00 on Wednesday. The company has a market capitalization of $89.06 billion, a PE ratio of 22.93, a PEG ratio of 5.92 and a beta of 0.10. Northrop Grumman Corporation has a 12 month low of $426.24 and a 12 month high of $627.81. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The stock’s fifty day simple moving average is $587.11 and its 200 day simple moving average is $531.14.

Northrop Grumman (NYSE:NOC) last issued 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. The business had revenue of $10.35 billion for the quarter, compared to the consensus estimate of $10.15 billion. Northrop Grumman had a return on equity of 25.52% and a net margin of 9.74%.The firm’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $6.36 EPS. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. On average, research analysts predict that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Tuesday, September 2nd were paid a dividend of $2.31 per share. This represents a $9.24 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. Northrop Grumman’s dividend payout ratio (DPR) is presently 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.