Everett Harris & Co. CA Buys New Stake in Northrop Grumman Corporation $NOC

Everett Harris & Co. CA purchased a new position in shares of Northrop Grumman Corporation (NYSE:NOC) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 1,324 shares of the aerospace company’s stock, valued at approximately $674,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pictet Asset Management Holding SA raised its position in Northrop Grumman by 7.0% in the 1st quarter. Pictet Asset Management Holding SA now owns 61,436 shares of the aerospace company’s stock valued at $41,914,000 after purchasing an additional 4,041 shares during the last quarter. Vanguard Group Inc. grew its position in Northrop Grumman by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 13,740,721 shares of the aerospace company’s stock worth $7,835,097,000 after purchasing an additional 209,135 shares during the last quarter. New York State Teachers Retirement System grew its position in Northrop Grumman by 9.7% during the 4th quarter. New York State Teachers Retirement System now owns 111,927 shares of the aerospace company’s stock worth $63,822,000 after purchasing an additional 9,924 shares during the last quarter. Geode Capital Management LLC increased its stake in Northrop Grumman by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 3,149,478 shares of the aerospace company’s stock valued at $1,793,478,000 after purchasing an additional 17,948 shares during the period. Finally, World Investment Advisors increased its stake in Northrop Grumman by 70.1% in the fourth quarter. World Investment Advisors now owns 4,497 shares of the aerospace company’s stock valued at $2,564,000 after purchasing an additional 1,853 shares during the period. 83.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NOC has been the subject of several recent research reports. UBS Group increased their target price on shares of Northrop Grumman from $666.00 to $685.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Citigroup boosted their price target on Northrop Grumman from $617.00 to $667.00 and gave the company a “buy” rating in a research report on Thursday. Robert W. Baird set a $500.00 price objective on Northrop Grumman in a research note on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft set a $615.00 price objective on Northrop Grumman in a research report on Wednesday, July 22nd. Finally, TD Cowen lowered their target price on Northrop Grumman from $580.00 to $550.00 and set a “hold” rating on the stock in a research note on Wednesday, July 22nd. One equities 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 stock. According to data from MarketBeat, Northrop Grumman presently has an average rating of “Moderate Buy” and a consensus price target of $659.30.

Insider Activity at Northrop Grumman

In related news, Director Mark A. Welsh III sold 95 shares of the company’s 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 transaction, the director owned 4,393 shares of the company’s stock, valued at $2,405,299.29. This represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.21% of the stock is owned by corporate insiders.

Northrop Grumman Stock Up 1.8%

NOC stock opened at $585.18 on Friday. Northrop Grumman Corporation has a one year low of $479.02 and a one year high of $774.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.06 and a current ratio of 1.17. The company has a fifty day moving average of $538.88 and a 200-day moving average of $613.93. The stock has a market capitalization of $83.11 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 3.72 and a beta of -0.11.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Tuesday, July 21st. The aerospace company reported $7.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.82 by $0.86. The firm had revenue of $10.88 billion during the quarter, compared to analysts’ expectations of $10.80 billion. Northrop Grumman had a net margin of 10.48% and a return on equity of 24.25%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $8.15 earnings per share. Northrop Grumman has set its FY 2026 guidance at 28.600-29.100 EPS. As a group, analysts expect that Northrop Grumman Corporation will post 28.97 EPS for the current year.

Northrop Grumman Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Monday, June 1st were issued a $2.47 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $9.88 annualized dividend and a dividend yield of 1.7%. This is an increase from Northrop Grumman’s previous quarterly dividend of $2.31. Northrop Grumman’s payout ratio is 31.39%.

Northrop Grumman Company 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.