Conning Inc. Cuts Position in Northrop Grumman Corporation $NOC

Conning Inc. reduced its holdings in shares of Northrop Grumman Corporation (NYSE:NOC) by 2.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,011 shares of the aerospace company’s stock after selling 22 shares during the quarter. Conning Inc.’s holdings in Northrop Grumman were worth $505,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Northrop Grumman by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 13,266,301 shares of the aerospace company’s stock valued at $6,792,479,000 after purchasing an additional 588,520 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Northrop Grumman by 23.4% in the first quarter. Wellington Management Group LLP now owns 5,139,333 shares of the aerospace company’s stock valued at $2,631,390,000 after buying an additional 974,633 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Northrop Grumman by 10.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,241,144 shares of the aerospace company’s stock valued at $1,147,489,000 after buying an additional 210,500 shares during the period. Invesco Ltd. lifted its position in Northrop Grumman by 12.1% during the 1st quarter. Invesco Ltd. now owns 1,944,186 shares of the aerospace company’s stock worth $995,443,000 after acquiring an additional 210,506 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in Northrop Grumman by 12.0% in the 1st quarter. Royal Bank of Canada now owns 1,115,625 shares of the aerospace company’s stock worth $571,211,000 after acquiring an additional 119,693 shares during the period. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Stock Down 1.8%

NYSE:NOC opened at $623.51 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The company has a market capitalization of $89.28 billion, a price-to-earnings ratio of 22.98, a price-to-earnings-growth ratio of 5.97 and a beta of 0.10. Northrop Grumman Corporation has a one year low of $426.24 and a one year high of $640.90. The stock has a 50-day simple moving average of $590.32 and a 200 day simple moving average of $533.84.

Northrop Grumman (NYSE:NOC) last released its 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 company had revenue of $10.35 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted $6.36 EPS. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. Sell-side analysts predict that Northrop Grumman Corporation will post 28.05 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

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

Wall Street Analyst Weigh In

NOC has been the topic of a number of analyst reports. Royal Bank Of Canada lifted their price objective on shares of Northrop Grumman from $600.00 to $625.00 and gave the company an “outperform” rating in a research note on Tuesday, July 22nd. Barclays lifted 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. Bank of America upped their price objective on shares of Northrop Grumman from $550.00 to $650.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Wall Street Zen raised Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Friday, September 5th. Finally, Susquehanna boosted their price target on Northrop Grumman from $557.00 to $650.00 and gave the stock a “positive” rating in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $601.00.

Northrop Grumman Company 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.