Altus Wealth Group LLC Makes New Investment in Northrop Grumman Corporation $NOC

Altus Wealth Group LLC acquired a new position in Northrop Grumman Corporation (NYSE:NOC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 409 shares of the aerospace company’s stock, valued at approximately $204,000.

Other hedge funds have also added to or reduced their stakes in the company. Brookstone Capital Management boosted its holdings in Northrop Grumman by 121.0% during 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 last quarter. First United Bank & Trust boosted its holdings in Northrop Grumman by 641.0% during the second quarter. First United Bank & Trust now owns 778 shares of the aerospace company’s stock worth $389,000 after buying an additional 673 shares during the last quarter. GAM Holding AG boosted its holdings in Northrop Grumman by 51.9% during 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 last quarter. Golden State Wealth Management LLC boosted its holdings in Northrop Grumman by 206.2% during 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 last quarter. Finally, Bessemer Group Inc. boosted its holdings in Northrop Grumman by 18.8% during 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 last quarter. Institutional investors own 83.40% of the company’s stock.

Wall Street Analyst Weigh In

NOC has been the topic of a number of recent analyst reports. Truist Financial raised their target price on Northrop Grumman from $625.00 to $688.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley lifted their price objective on Northrop Grumman from $625.00 to $720.00 and gave the company an “overweight” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on Northrop Grumman from $480.00 to $585.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Northrop Grumman in a report on Tuesday, October 14th. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of Northrop Grumman in a report on Monday, July 14th. One equities 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 company. Based on data from MarketBeat.com, Northrop Grumman currently has an average rating of “Moderate Buy” and an average target price of $613.15.

Northrop Grumman Trading Down 0.8%

NYSE NOC opened at $594.15 on Monday. The stock has a market capitalization of $85.07 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 5.78 and a beta of 0.10. The stock’s 50 day moving average price is $592.48 and its two-hundred day moving average price is $537.35. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. Northrop Grumman Corporation has a 52 week low of $426.24 and a 52 week high of $640.90.

Northrop Grumman (NYSE:NOC) last released its earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 EPS for the quarter, beating the consensus estimate of $6.84 by $0.27. The firm had revenue of $10.35 billion for the quarter, compared to analysts’ expectations of $10.15 billion. Northrop Grumman had a return on equity of 25.52% and a net margin of 9.74%.The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.36 EPS. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. As a group, analysts anticipate that Northrop Grumman Corporation will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.6%. Northrop Grumman’s dividend payout ratio is currently 34.06%.

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.