Retirement Systems of Alabama Sells 1,993 Shares of Northrop Grumman Corporation $NOC

Retirement Systems of Alabama lowered its position in shares of Northrop Grumman Corporation (NYSE:NOC) by 1.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 129,592 shares of the aerospace company’s stock after selling 1,993 shares during the period. Retirement Systems of Alabama owned about 0.09% of Northrop Grumman worth $64,793,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. IMA Advisory Services Inc. bought a new stake in Northrop Grumman during the 1st quarter worth $27,000. Saudi Central Bank bought a new stake in Northrop Grumman during the 1st quarter worth $28,000. Banque Cantonale Vaudoise bought a new stake in Northrop Grumman during the 1st quarter worth $30,000. Flaharty Asset Management LLC bought a new stake in Northrop Grumman during the 1st quarter worth $36,000. Finally, Hollencrest Capital Management grew its position in Northrop Grumman by 790.0% during the 1st quarter. Hollencrest Capital Management now owns 89 shares of the aerospace company’s stock worth $45,000 after acquiring an additional 79 shares during the last quarter. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Stock Down 1.7%

Shares of NYSE:NOC opened at $584.93 on Thursday. The company has a market capitalization of $83.48 billion, a price-to-earnings ratio of 21.04, a P/E/G ratio of 5.15 and a beta of 0.10. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.11 and a quick ratio of 0.98. The business’s 50-day moving average is $594.66 and its 200-day moving average is $542.64. Northrop Grumman Corporation has a 1 year low of $426.24 and a 1 year high of $640.90.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Tuesday, October 21st. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.43 by $1.24. The company had revenue of $10.42 billion for 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%.The firm’s revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $7.00 EPS. Northrop Grumman has set its FY 2025 guidance at 25.650-26.050 EPS. Equities research analysts predict that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd were issued a $2.31 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $9.24 annualized dividend and a yield of 1.6%. Northrop Grumman’s dividend payout ratio is presently 33.24%.

Analysts Set New Price Targets

NOC has been the topic of several recent research reports. Truist Financial lifted their target price on Northrop Grumman from $625.00 to $688.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Bank of America lifted their target price on Northrop Grumman from $550.00 to $650.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their target price on Northrop Grumman from $575.00 to $640.00 and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft set a $700.00 target price on Northrop Grumman and gave the stock a “buy” rating in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada lifted their target price on Northrop Grumman from $600.00 to $625.00 and gave the stock an “outperform” rating in a report on Tuesday, July 22nd. One research 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, the company has an average rating of “Moderate Buy” and a consensus price target of $642.73.

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.