CNB Bank Boosts Stock Position in Northrop Grumman Corporation $NOC

CNB Bank boosted its holdings in Northrop Grumman Corporation (NYSE:NOC) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,521 shares of the aerospace company’s stock after purchasing an additional 19 shares during the period. CNB Bank’s holdings in Northrop Grumman were worth $1,260,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP lifted its position in shares of Northrop Grumman by 23.4% during 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 buying an additional 974,633 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of Northrop Grumman by 1,425.2% during 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 during the last quarter. Nuveen LLC purchased a new stake in Northrop Grumman during the 1st quarter worth about $369,205,000. Vanguard Group Inc. lifted its holdings in Northrop Grumman by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 13,266,301 shares of the aerospace company’s stock worth $6,792,479,000 after purchasing an additional 588,520 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Northrop Grumman by 98.8% during the 1st 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 in the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NOC. Susquehanna increased their price objective on Northrop Grumman from $650.00 to $690.00 and gave the stock a “positive” rating in a report on Wednesday. Truist Financial increased their price objective on Northrop Grumman from $625.00 to $688.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. UBS Group upped their target price on Northrop Grumman to $770.00 and gave the stock a “buy” rating in a research note on Wednesday. Sanford C. Bernstein set a $696.00 target price on Northrop Grumman in a research note on Thursday. Finally, Morgan Stanley upped their target price on Northrop Grumman from $625.00 to $720.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Northrop Grumman presently has an average rating of “Moderate Buy” and an average target price of $642.73.

Northrop Grumman Price Performance

Shares of Northrop Grumman stock opened at $605.67 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.93 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $86.44 billion, a PE ratio of 21.79, a price-to-earnings-growth ratio of 5.02 and a beta of 0.10. The business’s 50-day moving average price is $594.41 and its 200-day moving average price is $540.62. Northrop Grumman Corporation has a 12 month low of $426.24 and a 12 month high of $640.90.

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

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd were given a dividend of $2.31 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $9.24 annualized dividend and a dividend yield of 1.5%. Northrop Grumman’s dividend payout ratio is 33.24%.

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.