State of Alaska Department of Revenue Has $7.60 Million Position in Northrop Grumman Corporation $NOC

State of Alaska Department of Revenue trimmed its position in Northrop Grumman Corporation (NYSE:NOC) by 4.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 15,196 shares of the aerospace company’s stock after selling 740 shares during the period. State of Alaska Department of Revenue’s holdings in Northrop Grumman were worth $7,597,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Wellington Management Group LLP lifted its position in Northrop Grumman by 23.4% in the 1st quarter. Wellington Management Group LLP now owns 5,139,333 shares of the aerospace company’s stock valued at $2,631,390,000 after acquiring an additional 974,633 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Northrop Grumman by 1,425.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,001,198 shares of the aerospace company’s stock valued at $512,624,000 after buying an additional 935,554 shares in the last quarter. Nuveen LLC bought a new position in shares of Northrop Grumman in the first quarter worth $369,205,000. Vanguard Group Inc. grew its position in Northrop Grumman by 4.6% in the first quarter. Vanguard Group Inc. now owns 13,266,301 shares of the aerospace company’s stock worth $6,792,479,000 after acquiring an additional 588,520 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Northrop Grumman by 98.8% in the first quarter. AQR Capital Management LLC now owns 899,114 shares of the aerospace company’s stock worth $460,355,000 after purchasing an additional 446,940 shares during the last quarter. 83.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NOC. Robert W. Baird raised their target price on shares of Northrop Grumman from $547.00 to $565.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. Sanford C. Bernstein reissued a “market perform” rating on shares of Northrop Grumman in a research note on Monday, July 14th. JPMorgan Chase & Co. boosted their price objective on shares of Northrop Grumman from $480.00 to $585.00 and gave the company a “neutral” rating in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $542.00 price objective (down previously from $580.00) on shares of Northrop Grumman in a research note on Tuesday, July 8th. Finally, Royal Bank Of Canada upped their price objective on shares of Northrop Grumman from $600.00 to $625.00 and gave the company an “outperform” rating in a report on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $588.85.

Northrop Grumman Trading Up 1.5%

NYSE NOC opened at $594.50 on Friday. The firm has a 50 day simple moving average of $580.34 and a 200-day simple moving average of $525.34. The firm has a market cap of $85.12 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 5.69 and a beta of 0.13. Northrop Grumman Corporation has a one year low of $426.24 and a one year high of $600.99. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04.

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

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Tuesday, September 2nd were given a dividend of $2.31 per share. This represents a $9.24 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Tuesday, September 2nd. Northrop Grumman’s dividend payout ratio is 34.06%.

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.