Patten Group Inc. Acquires 485 Shares of Northrop Grumman Corporation $NOC

Patten Group Inc. raised its holdings in shares of Northrop Grumman Corporation (NYSE:NOC) by 15.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,644 shares of the aerospace company’s stock after purchasing an additional 485 shares during the quarter. Patten Group Inc.’s holdings in Northrop Grumman were worth $1,822,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NOC. Members Trust Co raised its holdings in shares of Northrop Grumman by 139.3% in the second quarter. Members Trust Co now owns 957 shares of the aerospace company’s stock valued at $478,000 after acquiring an additional 557 shares in the last quarter. Private Capital Advisors Inc. raised its holdings in shares of Northrop Grumman by 0.4% in the second quarter. Private Capital Advisors Inc. now owns 23,135 shares of the aerospace company’s stock valued at $11,567,000 after acquiring an additional 98 shares in the last quarter. D.A. Davidson & CO. raised its holdings in shares of Northrop Grumman by 3.8% in the second quarter. D.A. Davidson & CO. now owns 9,342 shares of the aerospace company’s stock valued at $4,671,000 after acquiring an additional 340 shares in the last quarter. Gables Capital Management Inc. raised its holdings in shares of Northrop Grumman by 526.3% in the second quarter. Gables Capital Management Inc. now owns 238 shares of the aerospace company’s stock valued at $119,000 after acquiring an additional 200 shares in the last quarter. Finally, Cullen Frost Bankers Inc. raised its holdings in shares of Northrop Grumman by 3.0% in the second quarter. Cullen Frost Bankers Inc. now owns 1,246 shares of the aerospace company’s stock valued at $623,000 after acquiring an additional 36 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors.

Northrop Grumman Trading Down 0.4%

Shares of NYSE:NOC opened at $599.45 on Wednesday. Northrop Grumman Corporation has a 12-month low of $426.24 and a 12-month high of $640.90. The company has a market capitalization of $85.83 billion, a PE ratio of 22.10, a PEG ratio of 5.85 and a beta of 0.10. The business has a 50 day moving average of $593.28 and a two-hundred day moving average of $538.58. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Tuesday, October 21st. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.43 by $1.24. Northrop Grumman had a return on equity of 25.52% and a net margin of 9.74%.The company had revenue of $10.42 billion during the quarter, compared to the consensus estimate of $10.68 billion. During the same period in the previous year, the company posted $7.00 earnings per share. Northrop Grumman’s revenue for the quarter was up 4.3% on a year-over-year basis. Northrop Grumman has set its FY 2025 guidance at 25.650-26.050 EPS. As a group, analysts forecast that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd were issued a $2.31 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $9.24 dividend on an annualized basis and a yield of 1.5%. Northrop Grumman’s payout ratio is presently 34.06%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Northrop Grumman in a research note on Tuesday, October 14th. Sanford C. Bernstein lifted their target price on Northrop Grumman from $630.00 to $674.00 and gave the company a “market perform” rating in a research note on Monday. 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 note on Wednesday, July 23rd. Truist Financial lifted their target price on Northrop Grumman from $625.00 to $688.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Finally, Wall Street Zen upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Northrop Grumman presently has an average rating of “Moderate Buy” and a consensus price target of $621.67.

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.