Verity Asset Management Inc. Sells 685 Shares of Northrop Grumman Corporation $NOC

Verity Asset Management Inc. trimmed its holdings in shares of Northrop Grumman Corporation (NYSE:NOC) by 49.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 705 shares of the aerospace company’s stock after selling 685 shares during the period. Verity Asset Management Inc.’s holdings in Northrop Grumman were worth $353,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. IMA Advisory Services Inc. acquired a new stake in Northrop Grumman during the 1st quarter valued at $27,000. Saudi Central Bank acquired a new stake in Northrop Grumman during the 1st quarter valued at $28,000. Banque Cantonale Vaudoise acquired a new stake in Northrop Grumman during the 1st quarter valued at $30,000. Flaharty Asset Management LLC acquired a new stake in Northrop Grumman during the 1st quarter valued at $36,000. Finally, Hollencrest Capital Management increased its holdings in Northrop Grumman by 790.0% during 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 in the last quarter. 83.40% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Stock Down 1.5%

Shares of Northrop Grumman stock opened at $574.58 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.11 and a debt-to-equity ratio of 0.95. Northrop Grumman Corporation has a 12 month low of $426.24 and a 12 month high of $640.90. The business has a fifty day simple moving average of $593.89 and a 200 day simple moving average of $543.60. The stock has a market cap of $82.00 billion, a PE ratio of 20.67, a price-to-earnings-growth ratio of 5.07 and a beta of 0.10.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Tuesday, October 21st. The aerospace company reported $7.67 EPS for the quarter, topping analysts’ consensus estimates of $6.43 by $1.24. Northrop Grumman had a return on equity of 25.49% and a net margin of 9.82%.The business had revenue of $10.42 billion during the quarter, compared to analysts’ expectations of $10.68 billion. During the same period in the previous year, the firm earned $7.00 earnings per share. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. Northrop Grumman has set its FY 2025 guidance at 25.650-26.050 EPS. Research analysts predict that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Dividend Announcement

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

Analyst Upgrades and Downgrades

NOC has been the subject of a number of recent analyst reports. 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. Morgan Stanley raised their price target on Northrop Grumman from $625.00 to $720.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Royal Bank Of Canada lifted their target price on Northrop Grumman from $600.00 to $625.00 and gave the company an “outperform” rating in a research note on Tuesday, July 22nd. Deutsche Bank Aktiengesellschaft set a $700.00 target price on Northrop Grumman and gave the company a “buy” rating in a research note on Wednesday, October 8th. Finally, Bank of America lifted their target price on Northrop Grumman from $550.00 to $650.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.