Symphony Financial Ltd. Co. has acquired a significant stake in Northrop Grumman Corporation, purchasing 65,400 shares valued at approximately $32,698,000. This acquisition was disclosed in the firm’s recent 13F filing with the Securities and Exchange Commission, highlighting growing investor interest in the aerospace and defense sector.
Several other institutional investors have also made changes to their positions in Northrop Grumman. For instance, IMA Advisory Services Inc. entered a new position in the first quarter valued at about $27,000. Similarly, the Saudi Central Bank and Banque Cantonale Vaudoise purchased shares in the first quarter, valued at approximately $28,000 and $30,000, respectively. Notably, NewSquare Capital LLC increased its holdings by 75.0% during the second quarter, bringing its total to 63 shares worth $31,000 after acquiring an additional 27 shares.
Institutional investors now own approximately 83.40% of Northrop Grumman’s stock, reflecting a trend of confidence among large financial entities in the company’s long-term prospects.
Stock Performance and Financial Metrics
As of Monday, Northrop Grumman’s stock opened at $557.77. The company has experienced a fifty-two week low of $426.24 and a fifty-two week high of $640.90. The firm maintains a market capitalization of $79.61 billion, with a price-to-earnings (PE) ratio of 20.06 and a price-to-earnings-growth (PEG) ratio of 5.07.
In terms of liquidity, Northrop Grumman has a debt-to-equity ratio of 0.95, a quick ratio of 0.98, and a current ratio of 1.11. These figures indicate a solid financial position, allowing the company to navigate market fluctuations effectively.
Dividend Announcement and Analyst Ratings
In addition to its stock performance, Northrop Grumman announced a quarterly dividend of $2.31 per share, which was paid on September 17, 2023. Investors of record on September 2 received this dividend, representing an annualized total of $9.24 and a dividend yield of 1.7%. The company’s dividend payout ratio stands at 33.24%, indicating a balanced approach to returning profits to shareholders while retaining capital for growth.
A number of brokerages have recently updated their price targets for Northrop Grumman. Royal Bank of Canada increased its target from $600.00 to $625.00 and rated the stock as “outperform” on July 22, 2023. Meanwhile, JPMorgan Chase & Co. raised its price target from $575.00 to $640.00, maintaining a “neutral” rating. Overall, analysts have given Northrop Grumman an average rating of “Moderate Buy,” with a consensus target price of $642.73.
Northrop Grumman Corporation operates as a leading aerospace and defense technology company with a global presence, including the United States, Asia/Pacific, and Europe. Its Aeronautics Systems segment focuses on designing, developing, and sustaining aircraft systems, including unmanned autonomous aircraft and tactical fighter systems, thereby playing a pivotal role in modern defense capabilities.
Investors and analysts alike continue to monitor Northrop Grumman’s performance, particularly in light of its recent acquisitions and the shifting landscape of the aerospace and defense sectors.
