Northrop Grumman Corporation $NOC Shares Bought by Patten & Patten Inc. TN

Patten & Patten Inc. TN increased its stake in Northrop Grumman Corporation (NYSE:NOC) by 9.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,743 shares of the aerospace company’s stock after purchasing an additional 315 shares during the period. Patten & Patten Inc. TN’s holdings in Northrop Grumman were worth $1,871,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of NOC. Brighton Jones LLC boosted its stake in Northrop Grumman by 176.3% in the 4th quarter. Brighton Jones LLC now owns 2,970 shares of the aerospace company’s stock worth $1,394,000 after purchasing an additional 1,895 shares in the last quarter. Bison Wealth LLC boosted its stake in Northrop Grumman by 5.3% in the 4th quarter. Bison Wealth LLC now owns 641 shares of the aerospace company’s stock worth $301,000 after purchasing an additional 32 shares in the last quarter. GAMMA Investing LLC boosted its stake in Northrop Grumman by 8.6% in the 1st quarter. GAMMA Investing LLC now owns 2,969 shares of the aerospace company’s stock worth $1,520,000 after purchasing an additional 236 shares in the last quarter. Ritholtz Wealth Management raised its position in Northrop Grumman by 31.5% during the 1st quarter. Ritholtz Wealth Management now owns 1,794 shares of the aerospace company’s stock worth $919,000 after buying an additional 430 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in Northrop Grumman by 10.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,944 shares of the aerospace company’s stock valued at $995,000 after acquiring an additional 184 shares during the period. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Northrop Grumman Stock Performance

NOC opened at $609.26 on Thursday. 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 firm has a fifty day moving average price of $592.00 and a 200 day moving average price of $535.87. Northrop Grumman Corporation has a 1 year low of $426.24 and a 1 year high of $640.90. The stock has a market cap of $87.23 billion, a P/E ratio of 22.46, a P/E/G ratio of 6.09 and a beta of 0.10.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share (EPS) 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 firm had revenue of $10.35 billion during the quarter, compared to analysts’ expectations of $10.15 billion. During the same period in the previous year, the business posted $6.36 EPS. The business’s revenue was up 1.3% compared to the same quarter last year. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. Equities research analysts anticipate that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders 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 dividend on an annualized basis and a yield of 1.5%. Northrop Grumman’s dividend payout ratio is currently 34.06%.

Wall Street Analyst Weigh In

NOC has been the subject of several research reports. Morgan Stanley lifted their price objective on shares of Northrop Grumman from $625.00 to $720.00 and gave the company an “overweight” rating in a research note on Wednesday. Barclays lifted their price objective on shares of Northrop Grumman from $500.00 to $580.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. lifted their price objective on shares of Northrop Grumman from $480.00 to $585.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Northrop Grumman in a research note on Tuesday. Finally, Robert W. Baird lifted their price objective on shares of Northrop Grumman from $547.00 to $565.00 and gave the company a “neutral” rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Northrop Grumman currently has an average rating of “Moderate Buy” and an average price target of $613.15.

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.