Conning Inc. Cuts Position in Northrop Grumman Corporation $NOC

Conning Inc. cut its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 2.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,011 shares of the aerospace company’s stock after selling 22 shares during the quarter. Conning Inc.’s holdings in Northrop Grumman were worth $505,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. JNBA Financial Advisors grew its position in Northrop Grumman by 82.9% during the second quarter. JNBA Financial Advisors now owns 128 shares of the aerospace company’s stock worth $64,000 after buying an additional 58 shares during the period. Drucker Wealth 3.0 LLC acquired a new stake in shares of Northrop Grumman in the 2nd quarter worth approximately $266,000. Aberdeen Group plc increased its stake in Northrop Grumman by 1.8% in the 2nd quarter. Aberdeen Group plc now owns 13,353 shares of the aerospace company’s stock valued at $6,676,000 after purchasing an additional 233 shares in the last quarter. Croban raised its holdings in Northrop Grumman by 1.3% during the second quarter. Croban now owns 2,195 shares of the aerospace company’s stock worth $1,097,000 after purchasing an additional 29 shares during the last quarter. Finally, PDS Planning Inc boosted its position in Northrop Grumman by 3.7% during the second quarter. PDS Planning Inc now owns 869 shares of the aerospace company’s stock worth $434,000 after purchasing an additional 31 shares in the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on NOC shares. Weiss Ratings restated a “buy (b)” rating on shares of Northrop Grumman in a research report on Saturday, September 27th. Susquehanna raised their target price 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. lifted their target price on shares of Northrop Grumman from $480.00 to $585.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft set a $700.00 price target on shares of Northrop Grumman and gave the company a “buy” rating in a research report on Wednesday. Finally, Barclays lifted their price objective on Northrop Grumman from $500.00 to $580.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $601.00.

Northrop Grumman Stock Down 1.8%

Shares of NYSE NOC opened at $623.51 on Friday. The firm has a market cap of $89.28 billion, a P/E ratio of 22.98, a price-to-earnings-growth ratio of 5.97 and a beta of 0.10. 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 1 year low of $426.24 and a 1 year high of $640.90. The firm’s 50 day moving average price is $590.32 and its 200 day moving average price is $533.84.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.11 EPS for the quarter, beating analysts’ consensus estimates of $6.84 by $0.27. Northrop Grumman had a return on equity of 25.52% and a net margin of 9.74%.The business 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 business earned $6.36 earnings per share. The business’s revenue for the quarter 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, sell-side analysts anticipate that Northrop Grumman Corporation will post 28.05 earnings per share 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 issued a dividend of $2.31 per share. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, September 2nd. Northrop Grumman’s dividend payout ratio is presently 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.