Grimes & Company Inc. Acquires 24 Shares of Northrop Grumman Corporation $NOC

Grimes & Company Inc. increased its position in Northrop Grumman Corporation (NYSE:NOC) by 3.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 755 shares of the aerospace company’s stock after purchasing an additional 24 shares during the quarter. Grimes & Company Inc.’s holdings in Northrop Grumman were worth $378,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in NOC. IMA Advisory Services Inc. purchased a new position in shares of Northrop Grumman in the 1st quarter valued at approximately $27,000. Saudi Central Bank purchased a new position in shares of Northrop Grumman in the 1st quarter valued at approximately $28,000. Banque Cantonale Vaudoise purchased a new position in shares of Northrop Grumman in the 1st quarter valued at approximately $30,000. Flaharty Asset Management LLC purchased a new position in shares of Northrop Grumman in the 1st quarter valued at approximately $36,000. Finally, Hollencrest Capital Management lifted its stake in shares of Northrop Grumman by 790.0% in the 1st quarter. Hollencrest Capital Management now owns 89 shares of the aerospace company’s stock valued at $45,000 after purchasing an additional 79 shares during the period. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Stock Up 0.6%

Northrop Grumman stock opened at $622.00 on Wednesday. The firm has a market cap of $89.06 billion, a price-to-earnings ratio of 22.93, a PEG ratio of 5.92 and a beta of 0.10. The stock has a fifty day simple moving average of $587.11 and a two-hundred day simple moving average of $531.14. Northrop Grumman Corporation has a 12 month low of $426.24 and a 12 month high of $627.81. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

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

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Tuesday, September 2nd were issued a $2.31 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $9.24 annualized dividend and a dividend yield of 1.5%. Northrop Grumman’s payout ratio is presently 34.06%.

Analyst Ratings Changes

A number of research analysts have issued reports on NOC shares. Bank of America lifted their price objective on Northrop Grumman from $550.00 to $650.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Northrop Grumman in a research note on Saturday, September 27th. Wall Street Zen upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. JPMorgan Chase & Co. lifted their price objective on Northrop Grumman from $480.00 to $585.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. Finally, Truist Financial reiterated a “buy” rating and set a $625.00 price objective (up previously from $550.00) on shares of Northrop Grumman in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $588.85.

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.