Prostatis Group LLC Decreases Stock Holdings in Northrop Grumman Corporation $NOC

Prostatis Group LLC reduced its position in shares of Northrop Grumman Corporation (NYSE:NOC) by 14.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,971 shares of the aerospace company’s stock after selling 329 shares during the period. Prostatis Group LLC’s holdings in Northrop Grumman were worth $985,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Brookstone Capital Management lifted its position in shares of Northrop Grumman by 121.0% during the 1st quarter. Brookstone Capital Management now owns 6,640 shares of the aerospace company’s stock worth $3,400,000 after purchasing an additional 3,635 shares during the last quarter. First United Bank & Trust raised its stake in Northrop Grumman by 641.0% during the 2nd quarter. First United Bank & Trust now owns 778 shares of the aerospace company’s stock worth $389,000 after acquiring an additional 673 shares in the last quarter. GAM Holding AG raised its stake in Northrop Grumman by 51.9% during the 1st quarter. GAM Holding AG now owns 2,338 shares of the aerospace company’s stock worth $1,197,000 after acquiring an additional 799 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in Northrop Grumman during the 1st quarter worth $33,090,000. Finally, Golden State Wealth Management LLC raised its stake in Northrop Grumman by 206.2% during the 1st quarter. Golden State Wealth Management LLC now owns 2,771 shares of the aerospace company’s stock worth $1,421,000 after acquiring an additional 1,866 shares in the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Trading Down 1.8%

NYSE NOC opened at $623.51 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The firm has a market cap of $89.28 billion, a PE ratio of 22.98, a P/E/G ratio of 5.97 and a beta of 0.10. Northrop Grumman Corporation has a one year low of $426.24 and a one year high of $640.90. The firm’s fifty day moving average is $590.32 and its two-hundred day moving average is $533.84.

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

Northrop Grumman Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $2.31 per share. 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 payout ratio is 34.06%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NOC shares. Wells Fargo & Company reiterated an “overweight” rating on shares of Northrop Grumman 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 stock a “buy” rating in a research note on Wednesday. Bank of America lifted their price target on shares of Northrop Grumman from $550.00 to $650.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Barclays lifted their price target on shares of Northrop Grumman from $500.00 to $580.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 29th. Finally, Truist Financial reiterated a “buy” rating and set a $625.00 price target (up from $550.00) on shares of Northrop Grumman in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $601.00.

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.