Modern Wealth Management LLC Buys 420 Shares of Northrop Grumman Corporation $NOC

Modern Wealth Management LLC grew its stake in Northrop Grumman Corporation (NYSE:NOC) by 97.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 853 shares of the aerospace company’s stock after purchasing an additional 420 shares during the period. Modern Wealth Management LLC’s holdings in Northrop Grumman were worth $437,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Brookstone Capital Management raised its holdings in shares of Northrop Grumman by 121.0% in the first quarter. Brookstone Capital Management now owns 6,640 shares of the aerospace company’s stock worth $3,400,000 after buying an additional 3,635 shares during the period. GAM Holding AG raised its holdings in shares of Northrop Grumman by 51.9% in the first quarter. GAM Holding AG now owns 2,338 shares of the aerospace company’s stock worth $1,197,000 after buying an additional 799 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Northrop Grumman in the first quarter worth approximately $33,090,000. Golden State Wealth Management LLC raised its holdings in shares of Northrop Grumman by 206.2% in the first quarter. Golden State Wealth Management LLC now owns 2,771 shares of the aerospace company’s stock worth $1,421,000 after buying an additional 1,866 shares during the period. Finally, Bessemer Group Inc. raised its holdings in shares of Northrop Grumman by 18.8% in the first quarter. Bessemer Group Inc. now owns 795,839 shares of the aerospace company’s stock worth $407,477,000 after buying an additional 125,693 shares during the period. 83.40% of the stock is owned by institutional investors.

Northrop Grumman Stock Down 1.2%

Northrop Grumman stock opened at $575.91 on Monday. The business has a fifty day moving average price of $567.43 and a 200-day moving average price of $518.57. Northrop Grumman Corporation has a 1-year low of $426.24 and a 1-year high of $600.99. 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 stock has a market capitalization of $82.46 billion, a price-to-earnings ratio of 21.23, a PEG ratio of 5.51 and a beta of 0.13.

Northrop Grumman (NYSE:NOC) last issued its quarterly 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. Northrop Grumman had a return on equity of 25.52% and a net margin of 9.74%.The company had revenue of $10.35 billion during the quarter, compared to analysts’ expectations of $10.15 billion. During the same quarter in the previous year, the firm posted $6.36 EPS. The firm’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 forecast that Northrop Grumman Corporation will post 28.05 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $2.31 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.6%. Northrop Grumman’s dividend payout ratio (DPR) is presently 34.06%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NOC. Royal Bank Of Canada increased their price target on Northrop Grumman from $600.00 to $625.00 and gave the stock an “outperform” rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. raised their price objective on Northrop Grumman from $480.00 to $585.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. Barclays raised their price objective on Northrop Grumman from $500.00 to $580.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 29th. Truist Financial restated a “buy” rating and set a $625.00 price objective (up from $550.00) on shares of Northrop Grumman in a report on Wednesday, July 23rd. Finally, Robert W. Baird raised their price objective on Northrop Grumman from $547.00 to $565.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Northrop Grumman presently has an average rating of “Moderate Buy” and an average price target of $588.85.

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.