Patten & Patten Inc. TN increased its stake in Northrop Grumman Corporation (NYSE:NOC – Free Report) by 9.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,743 shares of the aerospace company’s stock after buying an additional 315 shares during the period. Patten & Patten Inc. TN’s holdings in Northrop Grumman were worth $1,871,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in NOC. IMA Advisory Services Inc. purchased a new position in Northrop Grumman in the 1st quarter worth about $27,000. Saudi Central Bank purchased a new position in Northrop Grumman in the 1st quarter worth about $28,000. Banque Cantonale Vaudoise purchased a new position in Northrop Grumman in the 1st quarter worth about $30,000. Flaharty Asset Management LLC purchased a new position in Northrop Grumman in the 1st quarter worth about $36,000. Finally, Hollencrest Capital Management increased 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 worth $45,000 after buying an additional 79 shares during the period. Hedge funds and other institutional investors own 83.40% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts recently commented on NOC shares. Morgan Stanley raised their price target on shares of Northrop Grumman from $625.00 to $720.00 and gave the stock an “overweight” rating in a research note on Wednesday. Weiss Ratings restated a “buy (b-)” rating on shares of Northrop Grumman in a report on Tuesday. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Northrop Grumman in a research report on Monday, July 14th. Wall Street Zen raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Friday, September 5th. Finally, Deutsche Bank Aktiengesellschaft set a $700.00 price target on shares of Northrop Grumman and gave the stock a “buy” rating in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Northrop Grumman has a consensus rating of “Moderate Buy” and an average price target of $613.15.
Northrop Grumman Stock Down 2.8%
NYSE:NOC opened at $609.26 on Thursday. Northrop Grumman Corporation has a fifty-two week low of $426.24 and a fifty-two week high of $640.90. The stock has a market capitalization of $87.23 billion, a P/E ratio of 22.46, a P/E/G ratio of 6.09 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. The company’s 50-day simple moving average is $592.00 and its 200-day simple moving average is $535.87.
Northrop Grumman (NYSE:NOC – Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share for the quarter, beating analysts’ consensus estimates of $6.84 by $0.27. Northrop Grumman had a net margin of 9.74% and a return on equity of 25.52%. The business had revenue of $10.35 billion for the quarter, compared to analysts’ expectations of $10.15 billion. During the same period last year, the business earned $6.36 EPS. The company’s revenue was up 1.3% compared to the same quarter last year. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. On average, equities analysts anticipate that Northrop Grumman Corporation will post 28.05 earnings per share for the current fiscal year.
Northrop Grumman Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd were issued a $2.31 dividend. 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 (DPR) is currently 34.06%.
About Northrop Grumman
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.
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