Chesley Taft & Associates LLC Cuts Holdings in Northrop Grumman Corporation $NOC

by · The Cerbat Gem

Chesley Taft & Associates LLC trimmed its holdings in shares of Northrop Grumman Corporation (NYSE:NOC – Free Report) by 65.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,357 shares of the aerospace company’s stock after selling 2,564 shares during the period. Chesley Taft & Associates LLC’s holdings in Northrop Grumman were worth $678,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. IMA Advisory Services Inc. bought a new position in shares of Northrop Grumman during the 1st quarter valued at $27,000. Saudi Central Bank purchased a new position in Northrop Grumman during the first quarter valued at $28,000. Banque Cantonale Vaudoise purchased a new position in Northrop Grumman during the first quarter valued at $30,000. Wood Tarver Financial Group LLC purchased a new position in Northrop Grumman during the fourth quarter valued at $32,000. Finally, Flaharty Asset Management LLC purchased a new position in Northrop Grumman during the first quarter valued at $36,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Stock Down 0.4%

Northrop Grumman stock opened at $577.22 on Thursday. The business has a fifty day moving average of $571.64 and a two-hundred day moving average of $520.17. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The firm has a market cap of $82.65 billion, a P/E ratio of 21.28, a P/E/G ratio of 5.55 and a beta of 0.13. Northrop Grumman Corporation has a twelve month low of $426.24 and a twelve month high of $600.99.

Northrop Grumman (NYSE:NOC – Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.84 by $0.27. The business had revenue of $10.35 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm posted $6.36 earnings per share. Northrop Grumman has set its FY 2025 guidance at 25.000-25.400 EPS. On average, analysts forecast 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 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 dividend yield of 1.6%. Northrop Grumman’s payout ratio is 34.06%.

Analyst Upgrades and Downgrades

NOC has been the topic of several analyst reports. Royal Bank Of Canada lifted their target price on Northrop Grumman from $600.00 to $625.00 and gave the company an “outperform” rating in a research report on Tuesday, July 22nd. Susquehanna lifted their target price on Northrop Grumman from $557.00 to $650.00 and gave the company a “positive” rating in a research report on Tuesday, July 22nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $542.00 target price (down from $580.00) on shares of Northrop Grumman in a research report on Tuesday, July 8th. Bank of America lifted their target price on Northrop Grumman from $550.00 to $650.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. raised their price target on Northrop Grumman from $480.00 to $585.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, Northrop Grumman has an average rating of “Moderate Buy” and an average target price of $588.85.

Read Our Latest Stock Analysis on Northrop Grumman

About Northrop Grumman

(Free Report)

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.

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