SteelPeak Wealth LLC Acquires 5,075 Shares of Northrop Grumman Corporation $NOC

SteelPeak Wealth LLC boosted its position in Northrop Grumman Corporation (NYSE:NOC) by 184.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,825 shares of the aerospace company’s stock after buying an additional 5,075 shares during the quarter. SteelPeak Wealth LLC’s holdings in Northrop Grumman were worth $3,912,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. IMA Advisory Services Inc. acquired a new position in Northrop Grumman in the 1st quarter valued at $27,000. Saudi Central Bank acquired a new position in Northrop Grumman in the 1st quarter valued at $28,000. Banque Cantonale Vaudoise acquired a new position in Northrop Grumman in the 1st quarter valued at $30,000. Flaharty Asset Management LLC acquired a new position in Northrop Grumman in the 1st quarter valued at $36,000. Finally, Hollencrest Capital Management grew its stake in Northrop Grumman by 790.0% in the 1st quarter. Hollencrest Capital Management now owns 89 shares of the aerospace company’s stock valued at $45,000 after buying an additional 79 shares during the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on NOC. Wall Street Zen upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. Wells Fargo & Company restated an “overweight” rating on shares of Northrop Grumman in a research report on Tuesday, July 22nd. Susquehanna raised their price target on shares of Northrop Grumman from $557.00 to $650.00 and gave the stock a “positive” rating in a research report on Tuesday, July 22nd. Sanford C. Bernstein restated a “market perform” rating on shares of Northrop Grumman in a research report on Monday, July 14th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $542.00 price target (down from $580.00) on shares of Northrop Grumman in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $588.85.

Northrop Grumman Price Performance

Shares of Northrop Grumman stock opened at $619.40 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The firm’s 50-day simple moving average is $586.12 and its 200-day simple moving average is $530.50. Northrop Grumman Corporation has a twelve month low of $426.24 and a twelve month high of $619.71. The firm has a market cap of $88.69 billion, a P/E ratio of 22.83, a price-to-earnings-growth ratio of 5.84 and a beta of 0.10.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share for the quarter, beating the consensus estimate of $6.84 by $0.27. Northrop Grumman had a net margin of 9.74% and a return on equity of 25.52%. The business had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.15 billion. During the same period in the previous year, the business earned $6.36 EPS. The firm’s 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. As a group, research analysts expect 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. Stockholders of record on Tuesday, September 2nd were given a dividend of $2.31 per share. This represents a $9.24 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Tuesday, September 2nd. Northrop Grumman’s payout ratio is 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.