Westpac Banking Corp Sells 2,757 Shares of Northrop Grumman Corporation $NOC

Westpac Banking Corp decreased its holdings in shares of Northrop Grumman Corporation (NYSE:NOC) by 60.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,778 shares of the aerospace company’s stock after selling 2,757 shares during the period. Westpac Banking Corp’s holdings in Northrop Grumman were worth $889,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Western Wealth Management LLC boosted its stake in Northrop Grumman by 25.2% during the 2nd quarter. Western Wealth Management LLC now owns 1,869 shares of the aerospace company’s stock valued at $935,000 after purchasing an additional 376 shares during the last quarter. Itau Unibanco Holding S.A. raised its position in Northrop Grumman by 56.9% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 6,011 shares of the aerospace company’s stock valued at $3,005,000 after buying an additional 2,180 shares during the last quarter. Kingsview Wealth Management LLC lifted its stake in Northrop Grumman by 7.8% during the 2nd quarter. Kingsview Wealth Management LLC now owns 9,226 shares of the aerospace company’s stock valued at $4,613,000 after acquiring an additional 671 shares in the last quarter. Citizens Financial Group Inc. RI grew its stake in shares of Northrop Grumman by 6.7% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 14,042 shares of the aerospace company’s stock worth $7,021,000 after acquiring an additional 886 shares in the last quarter. Finally, Avantax Advisory Services Inc. lifted its position in shares of Northrop Grumman by 3.9% during the second quarter. Avantax Advisory Services Inc. now owns 11,927 shares of the aerospace company’s stock valued at $5,963,000 after purchasing an additional 449 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on NOC. Weiss Ratings reissued a “buy (b-)” rating on shares of Northrop Grumman in a research report on Tuesday, October 14th. JPMorgan Chase & Co. raised their target price on Northrop Grumman from $575.00 to $640.00 and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. BTIG Research boosted their price target on shares of Northrop Grumman from $630.00 to $680.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. 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, Barclays increased their target price on shares of Northrop Grumman from $500.00 to $580.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $642.73.

Northrop Grumman Trading Down 0.0%

NYSE:NOC traded down $0.01 during midday trading on Monday, reaching $557.99. 32,738 shares of the stock traded hands, compared to its average volume of 917,567. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 1.11. The stock has a market capitalization of $79.64 billion, a P/E ratio of 20.07, a PEG ratio of 5.07 and a beta of 0.07. Northrop Grumman Corporation has a 12 month low of $426.24 and a 12 month high of $640.90. The company has a fifty day moving average of $590.21 and a 200 day moving average of $548.50.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Tuesday, October 21st. The aerospace company reported $7.67 earnings per share for the quarter, topping the consensus estimate of $6.43 by $1.24. The business had revenue of $10.42 billion during the quarter, compared to analysts’ expectations of $10.68 billion. Northrop Grumman had a return on equity of 25.49% and a net margin of 9.82%.The business’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the business posted $7.00 EPS. Northrop Grumman has set its FY 2025 guidance at 25.650-26.050 EPS. On average, research analysts predict that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Announces Dividend

The firm also recently announced 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 1.7%. The ex-dividend date was Tuesday, September 2nd. Northrop Grumman’s payout ratio is 33.24%.

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.