Robinhood Asset Management LLC raised its stake in shares of Northrop Grumman Corporation (NYSE:NOC – Free Report) by 48.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 11,927 shares of the aerospace company’s stock after acquiring an additional 3,894 shares during the period. Robinhood Asset Management LLC’s holdings in Northrop Grumman were worth $6,074,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of NOC. Brighton Jones LLC raised its holdings in shares of Northrop Grumman by 176.3% in the fourth quarter. Brighton Jones LLC now owns 2,970 shares of the aerospace company’s stock valued at $1,394,000 after purchasing an additional 1,895 shares during the last quarter. Bison Wealth LLC boosted its holdings in Northrop Grumman by 5.3% during the fourth quarter. Bison Wealth LLC now owns 641 shares of the aerospace company’s stock worth $301,000 after purchasing an additional 32 shares during the last quarter. Woodline Partners LP boosted its holdings in Northrop Grumman by 367.7% during the first quarter. Woodline Partners LP now owns 2,516 shares of the aerospace company’s stock worth $1,288,000 after purchasing an additional 1,978 shares during the last quarter. AXA S.A. grew its position in Northrop Grumman by 1,487.8% in the 2nd quarter. AXA S.A. now owns 16,338 shares of the aerospace company’s stock worth $8,169,000 after purchasing an additional 15,309 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in Northrop Grumman by 6.7% in the 2nd quarter. NewEdge Advisors LLC now owns 8,865 shares of the aerospace company’s stock worth $4,432,000 after purchasing an additional 553 shares in the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Northrop Grumman news, Director Mark A. Welsh III sold 95 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $547.53, for a total transaction of $52,015.35. Following the completion of the transaction, the director directly owned 4,393 shares of the company’s stock, valued at approximately $2,405,299.29. This represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.21% of the company’s stock.
Northrop Grumman Stock Performance
Northrop Grumman (NYSE:NOC – Get Free Report) last released its earnings results on Tuesday, July 21st. The aerospace company reported $7.68 earnings per share for the quarter, beating analysts’ consensus estimates of $6.82 by $0.86. Northrop Grumman had a net margin of 10.48% and a return on equity of 24.25%. The firm had revenue of $10.88 billion for the quarter, compared to analysts’ expectations of $10.80 billion. During the same period in the previous year, the company earned $8.15 earnings per share. The company’s quarterly revenue was up 5.1% on a year-over-year basis. Northrop Grumman has set its FY 2026 guidance at 28.600-29.100 EPS. On average, research analysts predict that Northrop Grumman Corporation will post 28.97 EPS for the current year.
Northrop Grumman Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Monday, August 31st will be paid a $2.47 dividend. The ex-dividend date is Monday, August 31st. This represents a $9.88 annualized dividend and a yield of 1.8%. Northrop Grumman’s dividend payout ratio is presently 31.39%.
Wall Street Analyst Weigh In
Several research firms have commented on NOC. Susquehanna dropped their target price on shares of Northrop Grumman from $785.00 to $655.00 and set a “positive” rating on the stock in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. reduced their target price on Northrop Grumman from $635.00 to $600.00 and set a “neutral” rating for the company in a report on Thursday, July 23rd. UBS Group increased their price target on Northrop Grumman from $666.00 to $685.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Wells Fargo & Company reiterated an “overweight” rating and set a $620.00 price target on shares of Northrop Grumman in a report on Wednesday, July 8th. Finally, Wall Street Zen cut Northrop Grumman from a “strong-buy” rating to a “hold” rating in a research report on Saturday, April 25th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Northrop Grumman presently has a consensus rating of “Moderate Buy” and an average target price of $661.30.
Read Our Latest Analysis on Northrop Grumman
Northrop Grumman Profile
Northrop Grumman Corporation (NYSE: NOC) is a leading U.S.-based aerospace and defense company that designs, builds and sustains advanced systems, products and technologies for government and commercial customers. Formed through the combination of Northrop and Grumman businesses in the 1990s, the company’s portfolio spans manned and unmanned aircraft, space systems, missile defense, radar and sensor systems, and integrated command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) solutions.
The company’s work includes airframe and platform manufacturing, space hardware and satellite systems, advanced mission systems and cybersecurity services, as well as logistics, sustainment and modernization programs.
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