Bessemer Group Inc. Raises Position in Northrop Grumman Corporation $NOC

Bessemer Group Inc. boosted its stake in Northrop Grumman Corporation (NYSE:NOC) by 0.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 798,097 shares of the aerospace company’s stock after buying an additional 2,258 shares during the quarter. Northrop Grumman comprises 0.6% of Bessemer Group Inc.’s holdings, making the stock its 29th largest holding. Bessemer Group Inc.’s holdings in Northrop Grumman were worth $399,032,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NOC. Wellington Management Group LLP lifted its holdings in 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 worth $2,631,390,000 after buying an additional 974,633 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in Northrop Grumman by 1,425.2% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,001,198 shares of the aerospace company’s stock worth $512,624,000 after buying an additional 935,554 shares during the period. Nuveen LLC purchased a new stake in Northrop Grumman in the first quarter worth about $369,205,000. Vanguard Group Inc. lifted its holdings in Northrop Grumman by 4.6% in the first quarter. Vanguard Group Inc. now owns 13,266,301 shares of the aerospace company’s stock worth $6,792,479,000 after buying an additional 588,520 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of Northrop Grumman by 98.8% during the first quarter. AQR Capital Management LLC now owns 899,114 shares of the aerospace company’s stock valued at $460,355,000 after purchasing an additional 446,940 shares during the last quarter. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Price Performance

Shares of NYSE NOC opened at $605.67 on Monday. Northrop Grumman Corporation has a twelve month low of $426.24 and a twelve month high of $640.90. The firm has a market cap of $86.44 billion, a P/E ratio of 21.79, a PEG ratio of 5.24 and a beta of 0.10. The company has a 50 day moving average of $594.41 and a 200 day moving average of $541.16. The company has a quick ratio of 0.98, a current ratio of 1.11 and a debt-to-equity ratio of 0.95.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Tuesday, October 21st. The aerospace company reported $7.67 earnings per share for the quarter, topping analysts’ consensus estimates of $6.43 by $1.24. Northrop Grumman had a net margin of 9.82% and a return on equity of 25.49%. The company had revenue of $10.42 billion during the quarter, compared to analyst estimates of $10.68 billion. During the same period in the previous year, the business earned $7.00 EPS. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. Northrop Grumman has set its FY 2025 guidance at 25.650-26.050 EPS. As a group, research analysts expect that Northrop Grumman Corporation will post 28.05 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Tuesday, September 2nd were issued a $2.31 dividend. This represents a $9.24 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Tuesday, September 2nd. Northrop Grumman’s payout ratio is presently 33.24%.

Analyst Ratings Changes

Several research firms have recently issued reports on NOC. JPMorgan Chase & Co. lifted their target price on shares of Northrop Grumman from $575.00 to $640.00 and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Susquehanna lifted their target price on shares of Northrop Grumman from $650.00 to $690.00 and gave the company a “positive” rating in a report on Wednesday, October 22nd. UBS Group lifted their target price on shares of Northrop Grumman to $770.00 and gave the company a “buy” rating in a report on Wednesday. Barclays lifted their target price on shares of Northrop Grumman from $500.00 to $580.00 and gave the company an “equal weight” rating in a report on Tuesday, July 29th. Finally, BTIG Research lifted their target price on shares of Northrop Grumman from $630.00 to $680.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $642.73.

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.