Bank of Jackson Hole Trust Reduces Position in Northrop Grumman Corporation $NOC

Bank of Jackson Hole Trust lessened its position in shares of Northrop Grumman Corporation (NYSE:NOC) by 22.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 170 shares of the aerospace company’s stock after selling 49 shares during the quarter. Bank of Jackson Hole Trust’s holdings in Northrop Grumman were worth $85,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Northrop Grumman by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 13,266,301 shares of the aerospace company’s stock worth $6,792,479,000 after acquiring an additional 588,520 shares during the period. Wellington Management Group LLP lifted its position in Northrop Grumman by 23.4% during the 1st quarter. Wellington Management Group LLP now owns 5,139,333 shares of the aerospace company’s stock worth $2,631,390,000 after acquiring an additional 974,633 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Northrop Grumman by 10.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,241,144 shares of the aerospace company’s stock worth $1,147,489,000 after acquiring an additional 210,500 shares during the period. Invesco Ltd. lifted its position in Northrop Grumman by 12.1% during the 1st quarter. Invesco Ltd. now owns 1,944,186 shares of the aerospace company’s stock worth $995,443,000 after acquiring an additional 210,506 shares during the period. Finally, Royal Bank of Canada lifted its position in Northrop Grumman by 12.0% during the 1st quarter. Royal Bank of Canada now owns 1,115,625 shares of the aerospace company’s stock worth $571,211,000 after acquiring an additional 119,693 shares during the period. 83.40% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Stock Performance

Northrop Grumman stock opened at $584.93 on Thursday. 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 fifty day moving average of $594.66 and a two-hundred day moving average of $542.64. The company has a market capitalization of $83.48 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 5.15 and a beta of 0.10. Northrop Grumman Corporation has a fifty-two week low of $426.24 and a fifty-two week high of $640.90.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results 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 company had revenue of $10.42 billion during the quarter, compared to the consensus estimate of $10.68 billion. Northrop Grumman had a return on equity of 25.49% and a net margin of 9.82%.Northrop Grumman’s revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $7.00 earnings per share. Northrop Grumman has set its FY 2025 guidance at 25.650-26.050 EPS. On average, analysts anticipate that Northrop Grumman Corporation will post 28.05 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd were given a $2.31 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.6%. Northrop Grumman’s payout ratio is currently 33.24%.

Analyst Ratings Changes

A number of analysts have weighed in on NOC shares. Wall Street Zen raised Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Friday, September 5th. Royal Bank Of Canada raised their price target on Northrop Grumman from $600.00 to $625.00 and gave the company an “outperform” rating in a report on Tuesday, July 22nd. Wells Fargo & Company reissued an “overweight” rating on shares of Northrop Grumman in a report on Tuesday, July 22nd. Truist Financial raised their price target on Northrop Grumman from $625.00 to $688.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Finally, Sanford C. Bernstein set a $696.00 price target on Northrop Grumman in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $642.73.

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.