Allspring Global Investments Holdings LLC Decreases Stake in Northrop Grumman Corporation $NOC

Allspring Global Investments Holdings LLC lowered its position in shares of Northrop Grumman Corporation (NYSE:NOC) by 73.5% in the second quarter, Holdings Channel reports. The firm owned 21,313 shares of the aerospace company’s stock after selling 59,085 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Northrop Grumman were worth $10,732,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NOC. IMA Advisory Services Inc. purchased a new stake in shares of Northrop Grumman during the 1st quarter worth about $27,000. Saudi Central Bank purchased a new stake in shares of Northrop Grumman during the 1st quarter worth about $28,000. Banque Cantonale Vaudoise purchased a new stake in shares of Northrop Grumman during the 1st quarter worth about $30,000. Flaharty Asset Management LLC purchased a new stake in shares of Northrop Grumman during the 1st quarter worth about $36,000. Finally, Hollencrest Capital Management grew its holdings in shares of 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 purchasing an additional 79 shares during the period. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NOC shares. Morgan Stanley boosted their target price on Northrop Grumman from $625.00 to $720.00 and gave the stock an “overweight” rating in a report on Wednesday. Royal Bank Of Canada upped their price target on Northrop Grumman from $600.00 to $625.00 and gave the stock an “outperform” rating in a report on Tuesday, July 22nd. Sanford C. Bernstein restated a “market perform” rating on shares of Northrop Grumman in a report on Monday, July 14th. Weiss Ratings restated a “buy (b-)” rating on shares of Northrop Grumman in a report on Tuesday, October 14th. Finally, Robert W. Baird upped their price target on Northrop Grumman from $547.00 to $565.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $613.15.

Northrop Grumman Stock Performance

Shares of NOC opened at $594.15 on Friday. The business’s 50 day moving average is $592.48 and its two-hundred day moving average is $537.20. Northrop Grumman Corporation has a 52-week low of $426.24 and a 52-week high of $640.90. The firm has a market cap of $85.07 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 5.78 and a beta of 0.10. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.84 by $0.27. Northrop Grumman had a return on equity of 25.52% and a net margin of 9.74%.The company had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.15 billion. During the same period in the prior year, the company posted $6.36 EPS. Northrop Grumman’s quarterly revenue was up 1.3% on a year-over-year basis. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. Analysts forecast 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. Shareholders 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 1.6%. The ex-dividend date of this dividend was Tuesday, September 2nd. Northrop Grumman’s dividend payout ratio is presently 34.06%.

Northrop Grumman Company 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.