Cornerstone Wealth Group LLC Reduces Stock Holdings in Northrop Grumman Corporation $NOC

Cornerstone Wealth Group LLC reduced its holdings in Northrop Grumman Corporation (NYSE:NOC) by 6.5% during the 2nd quarter, Holdings Channel reports. The fund owned 521 shares of the aerospace company’s stock after selling 36 shares during the period. Cornerstone Wealth Group LLC’s holdings in Northrop Grumman were worth $260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Capital Investment Advisors LLC boosted its holdings 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 in the last quarter. Tyche Wealth Partners LLC boosted its holdings 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 in the last quarter. Integrated Investment Consultants LLC boosted its holdings in Northrop Grumman by 3.9% during the first quarter. Integrated Investment Consultants LLC now owns 553 shares of the aerospace company’s stock worth $283,000 after buying an additional 21 shares in the last quarter. Ameriflex Group Inc. boosted its holdings in Northrop Grumman by 3.6% during the second quarter. Ameriflex Group Inc. now owns 611 shares of the aerospace company’s stock worth $301,000 after buying an additional 21 shares in the last quarter. Finally, Clearstead Trust LLC boosted its holdings in Northrop Grumman by 12.8% during the first quarter. Clearstead Trust LLC now owns 194 shares of the aerospace company’s stock worth $99,000 after buying an additional 22 shares in the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NOC. Susquehanna increased their price target on shares of Northrop Grumman from $557.00 to $650.00 and gave the stock a “positive” rating in a report on Tuesday, July 22nd. Bank of America increased their price target on shares of Northrop Grumman from $550.00 to $650.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Northrop Grumman in a report on Tuesday. Wall Street Zen raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a report on Friday, September 5th. Finally, Deutsche Bank Aktiengesellschaft set a $700.00 price objective on shares of Northrop Grumman and gave the company a “buy” rating in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Northrop Grumman has a consensus rating of “Moderate Buy” and an average price target of $601.00.

Northrop Grumman Stock Performance

NOC opened at $626.22 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The company has a market cap of $89.66 billion, a price-to-earnings ratio of 23.08, a PEG ratio of 6.01 and a beta of 0.10. Northrop Grumman Corporation has a 52-week low of $426.24 and a 52-week high of $640.90. The firm’s fifty day simple moving average is $591.60 and its two-hundred day simple moving average is $535.36.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.84 by $0.27. The business had revenue of $10.35 billion for the quarter, compared to the consensus estimate of $10.15 billion. Northrop Grumman had a net margin of 9.74% and a return on equity of 25.52%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same period last year, the firm posted $6.36 earnings per share. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. Equities analysts anticipate that Northrop Grumman Corporation will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd were given 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 is 34.06%.

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.