Teacher Retirement System of Texas Sells 45,674 Shares of Northrop Grumman Corporation $NOC

Teacher Retirement System of Texas lowered its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 43.5% during the second quarter, HoldingsChannel reports. The fund owned 59,402 shares of the aerospace company’s stock after selling 45,674 shares during the quarter. Teacher Retirement System of Texas’ holdings in Northrop Grumman were worth $29,700,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Transcend Capital Advisors LLC raised its stake in shares of Northrop Grumman by 6.4% in the 2nd quarter. Transcend Capital Advisors LLC now owns 715 shares of the aerospace company’s stock valued at $357,000 after buying an additional 43 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Northrop Grumman by 0.3% in the 2nd quarter. Bessemer Group Inc. now owns 798,097 shares of the aerospace company’s stock valued at $399,032,000 after buying an additional 2,258 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of Northrop Grumman by 24.8% in the 2nd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 509 shares of the aerospace company’s stock valued at $251,000 after buying an additional 101 shares in the last quarter. Prudent Man Advisors LLC raised its stake in shares of Northrop Grumman by 29.0% in the 2nd quarter. Prudent Man Advisors LLC now owns 1,339 shares of the aerospace company’s stock valued at $669,000 after buying an additional 301 shares in the last quarter. Finally, Brighton Jones LLC raised its stake in shares of Northrop Grumman by 25.0% in the 2nd quarter. Brighton Jones LLC now owns 3,513 shares of the aerospace company’s stock valued at $1,756,000 after buying an additional 703 shares in the last quarter. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Stock Down 1.6%

NOC opened at $596.17 on Tuesday. The firm’s 50-day simple moving average is $594.64 and its 200-day simple moving average is $541.74. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 1.11. 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 $85.09 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 5.24 and a beta of 0.10.

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

Northrop Grumman Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NOC shares. Barclays increased their price objective on shares of Northrop Grumman from $500.00 to $580.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 29th. Sanford C. Bernstein set a $696.00 price objective on shares of Northrop Grumman in a research note on Thursday. Morgan Stanley increased their price objective on shares of Northrop Grumman from $625.00 to $720.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Northrop Grumman in a report on Tuesday, July 22nd. Finally, Bank of America upped their target price on shares of Northrop Grumman from $550.00 to $650.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Northrop Grumman currently has a consensus rating of “Moderate Buy” and an average target price of $642.73.

Northrop Grumman 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.