468 Shares in Northrop Grumman Corporation (NYSE:NOC) Bought by Linscomb Wealth Inc.

Key Points

• Linscomb Wealth Inc. acquired 468 shares of Northrop Grumman, valued at approximately $240,000, according to their Form 13F filing.
• In the latest earnings report, Northrop Grumman exceeded expectations with earnings of $7.11 per share and a revenue of $10.35 billion for the previous quarter.
• The company announced an increase in its quarterly dividend to $2.31, representing an annualized dividend of $9.24 and a yield of 1.6%.

Linscomb Wealth Inc. acquired a new position in Northrop Grumman Corporation (NYSE:NOC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 468 shares of the aerospace company's stock, valued at approximately $240,000.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of 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 purchasing an additional 588,520 shares during the last quarter. Capital International Investors grew its stake in shares of Northrop Grumman by 5.9% in the fourth quarter. Capital International Investors now owns 8,239,434 shares of the aerospace company's stock worth $3,866,133,000 after purchasing an additional 461,307 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Northrop Grumman by 28.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,030,644 shares of the aerospace company's stock worth $952,962,000 after purchasing an additional 450,858 shares during the last quarter. Invesco Ltd. grew its stake in shares of Northrop Grumman by 12.1% in the first quarter. Invesco Ltd. now owns 1,944,186 shares of the aerospace company's stock worth $995,443,000 after purchasing an additional 210,506 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Northrop Grumman by 55,522.3% during the first quarter. GAMMA Investing LLC now owns 1,520,158 shares of the aerospace company's stock valued at $778,336,000 after acquiring an additional 1,517,425 shares during the last quarter. Institutional investors own 83.40% of the company's stock.

Northrop Grumman Trading Down 0.1%

NOC opened at $580.42 on Tuesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. Northrop Grumman Corporation has a fifty-two week low of $426.24 and a fifty-two week high of $594.68. The firm has a market capitalization of $83.10 billion, a PE ratio of 21.39, a P/E/G ratio of 5.51 and a beta of 0.15. The company's 50-day moving average is $524.60 and its 200 day moving average is $498.42.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share for the quarter, topping analysts' consensus estimates of $6.84 by $0.27. Northrop Grumman had a net margin of 9.74% and a return on equity of 25.52%. The company had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.15 billion. During the same quarter in the prior year, the business posted $6.36 EPS. The firm's revenue was up 1.3% compared to the same quarter last year. As a group, research analysts predict that Northrop Grumman Corporation will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were issued a $2.31 dividend. The ex-dividend date was Monday, June 2nd. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.6%. This is a boost from Northrop Grumman's previous quarterly dividend of $2.06. Northrop Grumman's dividend payout ratio (DPR) is currently 34.06%.

Analyst Upgrades and Downgrades

A number of analysts have commented on NOC shares. UBS Group cut their price target on shares of Northrop Grumman from $583.00 to $571.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Royal Bank Of Canada upped their price target on shares of Northrop Grumman from $600.00 to $625.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. upped their price target on shares of Northrop Grumman from $480.00 to $585.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Barclays upped their price target on shares of Northrop Grumman from $500.00 to $580.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Northrop Grumman in a research report on Monday, July 14th. Ten research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $586.79.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Thomas H. Jones sold 729 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $505.77, for a total value of $368,706.33. Following the completion of the sale, the vice president owned 7,552 shares in the company, valued at approximately $3,819,575.04. This trade represents a 8.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Robert J. Fleming sold 3,500 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $505.77, for a total transaction of $1,770,195.00. Following the completion of the sale, the vice president owned 1,827 shares of the company's stock, valued at approximately $924,041.79. This trade represents a 65.70% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,536 shares of company stock worth $8,306,857. 0.23% of the stock is currently owned by insiders.

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.

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