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

Grimes & Company Inc. raised its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 3.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 755 shares of the aerospace company’s stock after purchasing an additional 24 shares during the period. Grimes & Company Inc.’s holdings in Northrop Grumman were worth $378,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Northrop Grumman by 4.6% during the first quarter. Vanguard Group Inc. now owns 13,266,301 shares of the aerospace company’s stock valued at $6,792,479,000 after purchasing an additional 588,520 shares during the period. Wellington Management Group LLP grew its holdings in Northrop Grumman by 23.4% during the first quarter. Wellington Management Group LLP now owns 5,139,333 shares of the aerospace company’s stock valued at $2,631,390,000 after purchasing an additional 974,633 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Northrop Grumman by 10.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,241,144 shares of the aerospace company’s stock valued at $1,147,489,000 after purchasing an additional 210,500 shares during the period. Invesco Ltd. grew its holdings in Northrop Grumman by 12.1% during the first quarter. Invesco Ltd. now owns 1,944,186 shares of the aerospace company’s stock valued at $995,443,000 after purchasing an additional 210,506 shares during the period. Finally, Royal Bank of Canada grew its holdings in Northrop Grumman by 12.0% during the first quarter. Royal Bank of Canada now owns 1,115,625 shares of the aerospace company’s stock valued at $571,211,000 after purchasing an additional 119,693 shares during the period. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Price Performance

NYSE:NOC opened at $622.00 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $89.06 billion, a P/E ratio of 22.93, a P/E/G ratio of 5.92 and a beta of 0.10. Northrop Grumman Corporation has a 12 month low of $426.24 and a 12 month high of $627.81. The business’s 50-day moving average is $587.11 and its 200 day moving average is $531.14.

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 company had revenue of $10.35 billion for the quarter, compared to the consensus estimate of $10.15 billion. Northrop Grumman had a return on equity of 25.52% and a net margin of 9.74%.The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the previous year, the business earned $6.36 earnings per share. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. On average, equities research analysts forecast that Northrop Grumman Corporation will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Tuesday, September 2nd were given a $2.31 dividend. 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 currently 34.06%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Truist Financial restated a “buy” rating and issued a $625.00 price objective (up from $550.00) on shares of Northrop Grumman in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $542.00 price objective (down from $580.00) on shares of Northrop Grumman in a research report on Tuesday, July 8th. Weiss Ratings restated a “buy (b)” rating on shares of Northrop Grumman in a research report on Saturday, September 27th. Robert W. Baird boosted their price objective on Northrop Grumman from $547.00 to $565.00 and gave the company a “neutral” rating in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company restated an “overweight” rating on shares of Northrop Grumman in a research report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.