Northrop Grumman Corporation $NOC Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its position in Northrop Grumman Corporation (NYSE:NOC) by 1.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 175,562 shares of the aerospace company’s stock after selling 3,395 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Northrop Grumman were worth $87,778,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Wealth Alliance LLC raised its stake in Northrop Grumman by 3.0% in the second quarter. Wealth Alliance LLC now owns 2,157 shares of the aerospace company’s stock valued at $1,078,000 after buying an additional 63 shares during the last quarter. Wealth Quarterback LLC grew its position in Northrop Grumman by 1.8% during the 2nd quarter. Wealth Quarterback LLC now owns 2,196 shares of the aerospace company’s stock worth $1,098,000 after purchasing an additional 39 shares during the last quarter. National Pension Service increased its stake in Northrop Grumman by 15.1% during the 2nd quarter. National Pension Service now owns 376,673 shares of the aerospace company’s stock valued at $188,329,000 after purchasing an additional 49,366 shares in the last quarter. Mawer Investment Management Ltd. purchased a new position in shares of Northrop Grumman in the second quarter worth $491,985,000. Finally, Nwam LLC lifted its stake in shares of Northrop Grumman by 12.3% during the second quarter. Nwam LLC now owns 1,160 shares of the aerospace company’s stock worth $580,000 after buying an additional 127 shares during the period. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Stock Performance

NYSE NOC opened at $558.63 on Thursday. The company has a current ratio of 1.11, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. Northrop Grumman Corporation has a twelve month low of $426.24 and a twelve month high of $640.90. The stock has a 50-day moving average of $591.09 and a 200 day moving average of $547.02. The stock has a market capitalization of $79.73 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 5.07 and a beta of 0.07.

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

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Tuesday, September 2nd were given a $2.31 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $9.24 annualized dividend and a dividend yield of 1.7%. Northrop Grumman’s dividend payout ratio (DPR) is 33.24%.

Wall Street Analyst Weigh In

A number of brokerages have commented on NOC. Morgan Stanley lifted their price target on Northrop Grumman from $625.00 to $720.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Northrop Grumman in a report on Tuesday, July 22nd. Bank of America raised their target price on shares of Northrop Grumman from $550.00 to $650.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. UBS Group upped their price target on shares of Northrop Grumman to $770.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Finally, Truist Financial boosted their price objective on Northrop Grumman from $625.00 to $688.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Northrop Grumman presently has an average rating of “Moderate Buy” and an average price target of $642.73.

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.