Itau Unibanco Holding S.A. Grows Stake in Northrop Grumman Corporation $NOC

Itau Unibanco Holding S.A. increased its holdings in shares of Northrop Grumman Corporation (NYSE:NOC) by 56.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,011 shares of the aerospace company’s stock after purchasing an additional 2,180 shares during the quarter. Itau Unibanco Holding S.A.’s holdings in Northrop Grumman were worth $3,005,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in NOC. IMA Advisory Services Inc. purchased a new stake in shares of Northrop Grumman during the 1st quarter worth approximately $27,000. Saudi Central Bank acquired a new stake in Northrop Grumman during the 1st quarter worth $28,000. Banque Cantonale Vaudoise purchased a new stake in Northrop Grumman in the first quarter valued at $30,000. NewSquare Capital LLC boosted its stake in Northrop Grumman by 75.0% in the second quarter. NewSquare Capital LLC now owns 63 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 27 shares in the last quarter. Finally, Flaharty Asset Management LLC purchased a new position in shares of Northrop Grumman during the first quarter worth about $36,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NOC shares. 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 research report on Tuesday, July 22nd. Robert W. Baird lifted their target price on shares of Northrop Grumman from $547.00 to $565.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Susquehanna raised their price objective on shares of Northrop Grumman from $650.00 to $690.00 and gave the stock a “positive” rating in a research report on Wednesday, October 22nd. Morgan Stanley upped their target price on shares of Northrop Grumman from $625.00 to $720.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Northrop Grumman in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $642.73.

Northrop Grumman Stock Down 0.0%

Northrop Grumman stock opened at $557.77 on Friday. The firm has a market capitalization of $79.61 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 5.07 and a beta of 0.07. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 1.11. Northrop Grumman Corporation has a fifty-two week low of $426.24 and a fifty-two week high of $640.90. The stock’s fifty day moving average is $590.21 and its two-hundred day moving average is $548.06.

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

Northrop Grumman Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Tuesday, September 2nd were given a dividend of $2.31 per share. This represents a $9.24 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Tuesday, September 2nd. Northrop Grumman’s dividend payout ratio (DPR) is currently 33.24%.

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.