Morningstar Investment Management LLC Takes $1.46 Million Position in Northrop Grumman Corporation $NOC

Morningstar Investment Management LLC acquired a new stake in Northrop Grumman Corporation (NYSE:NOC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,911 shares of the aerospace company’s stock, valued at approximately $1,455,000.

Several other hedge funds have also modified their holdings of the stock. RFG Advisory LLC lifted its holdings in shares of Northrop Grumman by 16.7% during the second quarter. RFG Advisory LLC now owns 671 shares of the aerospace company’s stock valued at $335,000 after purchasing an additional 96 shares during the last quarter. Axxcess Wealth Management LLC lifted its holdings in shares of Northrop Grumman by 1.3% during the second quarter. Axxcess Wealth Management LLC now owns 3,040 shares of the aerospace company’s stock valued at $1,520,000 after purchasing an additional 39 shares during the last quarter. NorthRock Partners LLC lifted its holdings in shares of Northrop Grumman by 13.4% during the second quarter. NorthRock Partners LLC now owns 1,570 shares of the aerospace company’s stock valued at $785,000 after purchasing an additional 186 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Northrop Grumman by 26.0% during the second quarter. Sequoia Financial Advisors LLC now owns 3,750 shares of the aerospace company’s stock valued at $1,875,000 after purchasing an additional 774 shares during the last quarter. Finally, MGO One Seven LLC lifted its holdings in shares of Northrop Grumman by 3.6% during the second quarter. MGO One Seven LLC now owns 5,219 shares of the aerospace company’s stock valued at $2,609,000 after purchasing an additional 182 shares during the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Stock Down 0.8%

Shares of Northrop Grumman stock opened at $618.24 on Tuesday. The stock has a 50-day moving average price of $590.87 and a 200 day moving average price of $534.72. The company has a market cap of $88.52 billion, a P/E ratio of 22.79, a P/E/G ratio of 6.06 and a beta of 0.10. 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 1 year low of $426.24 and a 1 year high of $640.90.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.84 by $0.27. The firm had revenue of $10.35 billion during 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 business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the business earned $6.36 EPS. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. As a group, analysts expect that Northrop Grumman Corporation will post 28.05 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd were given a $2.31 dividend. 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 is presently 34.06%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NOC. Royal Bank Of Canada upped their target price on Northrop Grumman from $600.00 to $625.00 and gave the company an “outperform” rating in a report on Tuesday, July 22nd. Barclays upped their target price on Northrop Grumman from $500.00 to $580.00 and gave the company an “equal weight” rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. upped their target price on Northrop Grumman from $480.00 to $585.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Robert W. Baird upped their target price on Northrop Grumman from $547.00 to $565.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Northrop Grumman in a report on Monday, July 14th. One research 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 company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $601.00.

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.