Courier Capital LLC Sells 29 Shares of Northrop Grumman Corporation $NOC

Courier Capital LLC reduced its stake in Northrop Grumman Corporation (NYSE:NOC) by 0.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,258 shares of the aerospace company’s stock after selling 29 shares during the quarter. Courier Capital LLC’s holdings in Northrop Grumman were worth $2,129,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NOC. Sagespring Wealth Partners LLC raised its stake in shares of Northrop Grumman by 26.9% in the 2nd quarter. Sagespring Wealth Partners LLC now owns 2,770 shares of the aerospace company’s stock valued at $1,385,000 after purchasing an additional 587 shares during the period. TD Asset Management Inc boosted its position in shares of Northrop Grumman by 18.7% during the second quarter. TD Asset Management Inc now owns 91,966 shares of the aerospace company’s stock worth $45,981,000 after buying an additional 14,482 shares during the period. Frazier Financial Advisors LLC grew its holdings in shares of Northrop Grumman by 33.6% during the second quarter. Frazier Financial Advisors LLC now owns 171 shares of the aerospace company’s stock worth $85,000 after buying an additional 43 shares in the last quarter. Wilmington Savings Fund Society FSB raised its position in Northrop Grumman by 4.2% in the 2nd quarter. Wilmington Savings Fund Society FSB now owns 2,770 shares of the aerospace company’s stock valued at $1,385,000 after buying an additional 112 shares during the last quarter. Finally, Morningstar Investment Management LLC acquired a new stake in Northrop Grumman in the 2nd quarter valued at approximately $1,455,000. 83.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NOC has been the subject of several research reports. Barclays raised their price target on shares of Northrop Grumman from $500.00 to $580.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 29th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Northrop Grumman in a research report on Tuesday, July 22nd. Susquehanna boosted 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. Bank of America increased their price objective on shares of Northrop Grumman from $550.00 to $650.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. lifted their target price on Northrop Grumman from $480.00 to $585.00 and gave the company a “neutral” rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $601.00.

Northrop Grumman Stock Up 1.2%

Northrop Grumman stock opened at $626.22 on Wednesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The company’s 50-day moving average is $591.60 and its 200-day moving average is $535.36. The firm has a market capitalization of $89.66 billion, a PE ratio of 23.08, a P/E/G ratio of 6.01 and a beta of 0.10. Northrop Grumman Corporation has a fifty-two week low of $426.24 and a fifty-two week high of $640.90.

Northrop Grumman (NYSE:NOC) last posted its quarterly 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 business had revenue of $10.35 billion during the quarter, compared to analysts’ expectations of $10.15 billion. Northrop Grumman had a return on equity of 25.52% and a net margin of 9.74%.Northrop Grumman’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the company posted $6.36 earnings per share. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. Sell-side analysts anticipate that Northrop Grumman Corporation will post 28.05 earnings per share for the current 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 issued a dividend of $2.31 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.5%. Northrop Grumman’s payout ratio is presently 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.