CCM Investment Group LLC Makes New $3.94 Million Investment in Northrop Grumman Corporation (NYSE:NOC)

Key Points

• CCM Investment Group LLC purchased 7,689 shares of Northrop Grumman, valued at approximately $3.94 million, marking a continued interest by institutional investors, who now own 83.40% of the stock.
• Northrop Grumman reported $7.11 earnings per share for its latest quarter, surpassing estimates, with revenues reaching $10.35 billion—a 1.3% increase from the previous year.
• The company recently raised its quarterly dividend to $2.31 per share, reflecting a 1.6% yield and a dividend payout ratio of 34.06%.

CCM Investment Group LLC purchased a new position in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 7,689 shares of the aerospace company's stock, valued at approximately $3,938,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. IMA Advisory Services Inc. acquired a new stake in Northrop Grumman during the 1st quarter worth $27,000. Banque Cantonale Vaudoise acquired a new stake in Northrop Grumman during the 1st quarter worth $30,000. Wood Tarver Financial Group LLC acquired a new stake in Northrop Grumman during the 4th quarter worth $32,000. Bellwether Advisors LLC acquired a new stake in Northrop Grumman during the 4th quarter worth $33,000. Finally, Hollencrest Capital Management boosted its stake in Northrop Grumman by 790.0% during the 1st quarter. Hollencrest Capital Management now owns 89 shares of the aerospace company's stock worth $45,000 after purchasing an additional 79 shares during the period. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Northrop Grumman Price Performance

Northrop Grumman stock traded up $1.24 during midday trading on Thursday, reaching $583.33. The company's stock had a trading volume of 325,437 shares, compared to its average volume of 1,000,106. Northrop Grumman Corporation has a fifty-two week low of $426.24 and a fifty-two week high of $594.68. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The stock's 50 day simple moving average is $528.25 and its 200 day simple moving average is $499.57. The firm has a market capitalization of $83.52 billion, a PE ratio of 21.50, a P/E/G ratio of 5.50 and a beta of 0.15.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 EPS for the quarter, beating analysts' consensus estimates of $6.84 by $0.27. Northrop Grumman had a return on equity of 25.52% and a net margin of 9.74%. The company had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.15 billion. During the same quarter last year, the company earned $6.36 earnings per share. Northrop Grumman's quarterly revenue was up 1.3% compared to the same quarter last year. On average, equities research analysts forecast that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd were issued a $2.31 dividend. This represents a $9.24 annualized dividend and a yield of 1.6%. This is a positive change from Northrop Grumman's previous quarterly dividend of $2.06. The ex-dividend date of this dividend was Monday, June 2nd. Northrop Grumman's dividend payout ratio is currently 34.06%.

Analysts Set New Price Targets

A number of analysts recently weighed in on NOC shares. UBS Group decreased their price target on shares of Northrop Grumman from $583.00 to $571.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Bank of America increased their price target on shares of Northrop Grumman from $550.00 to $650.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Wall Street Zen cut shares of Northrop Grumman from a "buy" rating to a "hold" rating in a research note on Thursday, April 24th. Morgan Stanley increased their price target on shares of Northrop Grumman from $580.00 to $625.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 16th. Finally, Wells Fargo & Company reiterated an "overweight" rating on shares of Northrop Grumman in a research note on Tuesday, July 22nd. Ten research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $586.79.

Insider Transactions at Northrop Grumman

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

Northrop Grumman Company 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.