Johnson Investment Counsel Inc. Sells 9,154 Shares of Northrop Grumman Corporation $NOC

Johnson Investment Counsel Inc. lessened its position in shares of Northrop Grumman Corporation (NYSE:NOC) by 19.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,989 shares of the aerospace company’s stock after selling 9,154 shares during the period. Johnson Investment Counsel Inc.’s holdings in Northrop Grumman were worth $18,994,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Capital Investment Advisors LLC raised its stake in Northrop Grumman by 1.0% during the second quarter. Capital Investment Advisors LLC now owns 2,049 shares of the aerospace company’s stock worth $1,025,000 after buying an additional 20 shares during the last quarter. Tyche Wealth Partners LLC raised its stake in Northrop Grumman by 2.5% during the second quarter. Tyche Wealth Partners LLC now owns 830 shares of the aerospace company’s stock worth $415,000 after buying an additional 20 shares during the last quarter. IAG Wealth Partners LLC increased its stake in Northrop Grumman by 8.4% in the first quarter. IAG Wealth Partners LLC now owns 271 shares of the aerospace company’s stock valued at $139,000 after purchasing an additional 21 shares in the last quarter. Integrated Investment Consultants LLC increased its stake in Northrop Grumman by 3.9% in the first quarter. Integrated Investment Consultants LLC now owns 553 shares of the aerospace company’s stock valued at $283,000 after purchasing an additional 21 shares in the last quarter. Finally, Ameriflex Group Inc. increased its stake in Northrop Grumman by 3.6% in the second quarter. Ameriflex Group Inc. now owns 611 shares of the aerospace company’s stock valued at $301,000 after purchasing an additional 21 shares in the last quarter. Institutional investors own 83.40% of the company’s stock.

Analysts Set New Price Targets

NOC has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Northrop Grumman from $480.00 to $585.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. Truist Financial reaffirmed a “buy” rating and issued a $625.00 price target (up from $550.00) on shares of Northrop Grumman in a research note on Wednesday, July 23rd. Susquehanna lifted their price target on shares of Northrop Grumman from $557.00 to $650.00 and gave the company a “positive” rating in a research note on Tuesday, July 22nd. Deutsche Bank Aktiengesellschaft set a $700.00 price target on shares of Northrop Grumman and gave the company a “buy” rating in a research note on Wednesday. Finally, Wells Fargo & Company reaffirmed an “overweight” rating on shares of Northrop Grumman in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $601.00.

Northrop Grumman Stock Down 1.8%

Shares of NYSE NOC opened at $623.51 on Friday. The stock has a market capitalization of $89.28 billion, a P/E ratio of 22.98, a P/E/G ratio of 5.97 and a beta of 0.10. The company has a 50-day moving average price of $590.32 and a 200-day moving average price of $533.84. Northrop Grumman Corporation has a 1 year low of $426.24 and a 1 year high of $640.90. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share for the quarter, topping the consensus estimate 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 in the previous year, the company earned $6.36 earnings per share. The firm’s revenue for the quarter 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 research analysts forecast that Northrop Grumman Corporation will post 28.05 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

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