Advent Capital Management DE Invests $3.58 Million in Northrop Grumman Corporation (NYSE:NOC)

Key Points

• Advent Capital Management DE has invested approximately $3.58 million in Northrop Grumman by acquiring 7,000 shares of the aerospace company's stock.
• Northrop Grumman's latest quarterly earnings report showed an EPS of $7.11, exceeding analysts' estimates, with revenue amounting to $10.35 billion.
• The company has recently increased its dividend from $2.06 to $2.31 per share, reflecting an annualized dividend of $9.24 and a dividend yield of 1.6%.

Advent Capital Management DE bought a new position in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,000 shares of the aerospace company's stock, valued at approximately $3,584,000.

A number of other institutional investors and hedge funds have also bought and sold shares of NOC. Cooper Financial Group increased its holdings in Northrop Grumman by 7.6% in the 1st quarter. Cooper Financial Group now owns 2,051 shares of the aerospace company's stock valued at $1,050,000 after buying an additional 145 shares during the period. Invesco Ltd. increased its holdings in Northrop Grumman by 12.1% in the 1st quarter. Invesco Ltd. now owns 1,944,186 shares of the aerospace company's stock valued at $995,443,000 after buying an additional 210,506 shares during the period. Manhattan West Asset Management LLC increased its holdings in Northrop Grumman by 2.5% in the 1st quarter. Manhattan West Asset Management LLC now owns 1,026 shares of the aerospace company's stock valued at $525,000 after buying an additional 25 shares during the period. Covestor Ltd increased its holdings in Northrop Grumman by 9.6% in the 1st quarter. Covestor Ltd now owns 286 shares of the aerospace company's stock valued at $147,000 after buying an additional 25 shares during the period. Finally, Frank Rimerman Advisors LLC grew its holdings in shares of Northrop Grumman by 6.0% in the 1st quarter. Frank Rimerman Advisors LLC now owns 2,047 shares of the aerospace company's stock worth $1,048,000 after purchasing an additional 115 shares during the last quarter. Institutional investors own 83.40% of the company's stock.

Insider Buying and Selling

In related news, VP Roshan S. Roeder sold 991 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $490.00, for a total transaction of $485,590.00. Following the completion of the sale, the vice president directly owned 319 shares of the company's stock, valued at approximately $156,310. This represents a 75.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert J. Fleming sold 3,500 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was 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 of the company's stock, valued at approximately $924,041.79. The trade was a 65.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,536 shares of company stock valued at $8,306,857. Insiders own 0.23% of the company's stock.

Northrop Grumman Stock Performance

Shares of NOC stock opened at $581.29 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The stock has a market cap of $83.23 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 5.51 and a beta of 0.15. The stock has a 50-day moving average of $522.66 and a 200-day moving average of $497.85. Northrop Grumman Corporation has a one year low of $426.24 and a one year high of $594.68.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its quarterly 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. The company had revenue of $10.35 billion during the quarter, compared to analysts' expectations of $10.15 billion. Northrop Grumman had a return on equity of 25.52% and a net margin of 9.74%. Northrop Grumman's revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the business posted $6.36 EPS. As a group, sell-side analysts expect that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Increases Dividend

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

Analyst Ratings Changes

Several research firms have recently weighed in on NOC. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Northrop Grumman in a report on Monday, July 14th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $542.00 target price (down previously from $580.00) on shares of Northrop Grumman in a report on Tuesday, July 8th. Susquehanna upped their target price on shares of Northrop Grumman from $557.00 to $650.00 and gave the stock a "positive" rating in a report on Tuesday, July 22nd. Morgan Stanley upped their target price on shares of Northrop Grumman from $580.00 to $625.00 and gave the stock an "overweight" rating in a report on Wednesday, April 16th. Finally, UBS Group lowered their target price on shares of Northrop Grumman from $583.00 to $571.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Ten 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $586.79.

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.

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