Moors & Cabot Inc. has reduced its stake in Northrop Grumman Corporation (NYSE:NOC) by 0.5% during the first quarter of the year, according to Holdings Channel.com. The institutional investor now holds 6,059 shares of the aerospace and defense technology company after selling 31 shares in the reporting period. As of the end of the first quarter, Moors & Cabot’s holdings in Northrop Grumman were valued at approximately $3,102,000.
Several other large investors have also adjusted their positions in Northrop Grumman recently. BCGM Wealth Management LLC increased its stake by 1.8%, bringing its total to 6,611 shares worth $3,385,000 after acquiring an additional 119 shares. MGO One Seven LLC expanded its holdings by 8.3% to 5,037 shares, valued at $2,579,000, following a purchase of 386 shares.
Sound View Wealth Advisors Group LLC also increased its position by 2.0%, now holding 1,866 shares worth $956,000 after buying an additional 36 shares. Further, Davis R M Inc. grew its stake by 0.5% to 65,079 shares, valued at $33,321,000, while Foster & Motley Inc. made significant gains, increasing its position by 230.8% to 9,711 shares, now valued at $4,972,000. Notably, hedge funds and other institutional investors now collectively own 83.40% of Northrop Grumman stock.
Analysts Adjust Price Targets on Northrop Grumman
Recent analyst reports indicate a shift in expectations for Northrop Grumman. Barclays raised its price target from $500.00 to $580.00 while maintaining an “equal weight” rating. The Goldman Sachs Group upgraded its outlook from a “sell” to a “neutral” position, increasing its price target to $521.00 from $424.00. Deutsche Bank Aktiengesellschaft re-evaluated its stance as well, issuing a “hold” rating with a revised price target of $542.00, down from $580.00.
Furthermore, Wall Street Zen downgraded Northrop Grumman from a “buy” to a “hold” rating, while JPMorgan Chase & Co. increased their price target to $585.00 with a “neutral” rating. Currently, ten analysts have rated the stock as a “hold,” eight have assigned a “buy” rating, and one has given it a “strong buy” rating. According to data from MarketBeat, Northrop Grumman holds a consensus rating of “Moderate Buy” with an average price target of $586.79.
Northrop Grumman’s Stock Performance and Financials
On Friday, Northrop Grumman’s shares opened at $587.13. The company exhibits a quick ratio of 0.93 and a current ratio of 1.04, with a debt-to-equity ratio of 0.98. Its stock has seen a fifty-day moving average of $511.60 and a two-hundred-day average of $494.32. The company’s stock has fluctuated within a 52-week low of $426.24 and a high of $587.88. With a market capitalization of $84.07 billion, Northrop Grumman’s price-to-earnings ratio stands at 21.64, and its price-to-earnings-growth ratio at 5.46.
In its latest quarterly earnings report on July 22, Northrop Grumman reported earnings per share (EPS) of $7.11, surpassing analysts’ estimates of $6.84 by $0.27. The company achieved a return on equity of 25.52% and a net margin of 9.74%. Total revenue for the quarter reached $10.35 billion, exceeding expectations of $10.15 billion. Comparatively, during the same period last year, the firm reported an EPS of $6.36, indicating a 1.3% increase in revenue year-on-year. Analysts predict Northrop Grumman will post an EPS of 28.05 for the current year.
In addition to its robust financials, Northrop Grumman recently declared a quarterly dividend of $2.31 per share, paid on June 18 to shareholders of record on June 2. This represents an annualized dividend of $9.24 and a yield of 1.6%, marking an increase from the previous quarterly dividend of $2.06. The company’s current payout ratio stands at 34.06%.
Recent insider trading activity has also been noteworthy. Vice President Roshan S. Roeder sold 991 shares on June 4 at an average price of $490.00, totaling approximately $485,590.00. Following this sale, Roeder’s ownership decreased significantly, holding only 319 shares valued at around $156,310. Another vice president, Robert J. Fleming, sold 3,500 shares on June 13 for $1,770,195.00, and now owns 1,827 shares, valued at about $924,041.79. Over the past three months, insiders have sold a total of 16,569 shares worth approximately $8,323,150, with insiders currently holding 0.23% of the stock.
Northrop Grumman Corporation operates as a leading aerospace and defense technology company, serving markets in the United States, Asia/Pacific, and Europe. The company’s diverse offerings include the design and development of aircraft systems, unmanned autonomous aircraft, and various types of military aircraft, underscoring its critical role in national and international defense.
