SteelPeak Wealth LLC Has $1.73 Million Stake in Northrop Grumman Corporation $NOC

SteelPeak Wealth LLC reduced its stake in shares of Northrop Grumman Corporation (NYSE:NOC) by 63.7% in the 3rd quarter, Holdings Channel reports. The firm owned 2,840 shares of the aerospace company’s stock after selling 4,985 shares during the quarter. SteelPeak Wealth LLC’s holdings in Northrop Grumman were worth $1,730,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Soundwatch Capital LLC acquired a new stake in shares of Northrop Grumman in the second quarter valued at about $6,457,274,000. Mawer Investment Management Ltd. acquired a new stake in Northrop Grumman during the 2nd quarter valued at approximately $491,985,000. Franklin Resources Inc. raised its holdings in Northrop Grumman by 11.8% during the 2nd quarter. Franklin Resources Inc. now owns 2,933,061 shares of the aerospace company’s stock worth $1,466,472,000 after purchasing an additional 308,680 shares during the last quarter. Laurel Wealth Advisors LLC raised its holdings in Northrop Grumman by 49,898.2% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 169,494 shares of the aerospace company’s stock worth $84,744,000 after purchasing an additional 169,155 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Northrop Grumman by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 13,421,645 shares of the aerospace company’s stock valued at $6,710,554,000 after purchasing an additional 155,344 shares during the last quarter. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Stock Performance

Shares of Northrop Grumman stock opened at $585.23 on Friday. The business has a 50-day simple moving average of $568.71 and a 200 day simple moving average of $567.92. Northrop Grumman Corporation has a one year low of $426.24 and a one year high of $640.90. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.11 and a quick ratio of 0.98. The firm has a market capitalization of $83.52 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 4.74 and a beta of 0.05.

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

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Monday, December 1st were given a $2.31 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $9.24 annualized dividend and a yield of 1.6%. Northrop Grumman’s dividend payout ratio (DPR) is presently 33.24%.

Insider Buying and Selling

In other Northrop Grumman news, Director Mark A. Welsh III sold 97 shares of the company’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $564.08, for a total transaction of $54,715.76. Following the transaction, the director owned 4,281 shares in the company, valued at approximately $2,414,826.48. This represents a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

NOC has been the subject of a number of analyst reports. Truist Financial lifted their target price on shares of Northrop Grumman from $625.00 to $688.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft set a $700.00 price objective on Northrop Grumman and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Morgan Stanley restated an “overweight” rating and set a $714.00 target price on shares of Northrop Grumman in a research report on Tuesday, December 16th. Alembic Global Advisors upgraded Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $662.00 target price for the company in a report on Monday, December 15th. Finally, Wall Street Zen upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a report on Friday, September 5th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $651.18.

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.