Assetmark Inc. lifted its position in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 2.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,357 shares of the aerospace company's stock after purchasing an additional 508 shares during the quarter. Assetmark Inc.'s holdings in Northrop Grumman were worth $9,399,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in NOC. Cetera Investment Advisers boosted its holdings in Northrop Grumman by 8.6% in the 1st quarter. Cetera Investment Advisers now owns 62,363 shares of the aerospace company's stock valued at $31,931,000 after purchasing an additional 4,946 shares during the period. Atria Investments Inc raised its stake in shares of Northrop Grumman by 6.1% during the first quarter. Atria Investments Inc now owns 21,604 shares of the aerospace company's stock valued at $11,061,000 after acquiring an additional 1,235 shares during the last quarter. Principle Wealth Partners LLC increased its position in shares of Northrop Grumman by 5.5% during the first quarter. Principle Wealth Partners LLC now owns 2,004 shares of the aerospace company's stock worth $1,026,000 after buying an additional 105 shares during the period. Journey Strategic Wealth LLC increased its position in shares of Northrop Grumman by 10.2% during the first quarter. Journey Strategic Wealth LLC now owns 497 shares of the aerospace company's stock worth $254,000 after buying an additional 46 shares during the period. Finally, Kovack Advisors Inc. increased its stake in Northrop Grumman by 14.1% in the first quarter. Kovack Advisors Inc. now owns 615 shares of the aerospace company's stock valued at $315,000 after purchasing an additional 76 shares in the last quarter. 83.40% of the stock is owned by institutional investors.
Northrop Grumman Trading Up 0.2%
NYSE NOC traded up $1.04 on Thursday, hitting $573.85. 130,784 shares of the stock were exchanged, compared to its average volume of 1,011,112. 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 has a fifty day moving average price of $507.21 and a two-hundred day moving average price of $492.83. The firm has a market capitalization of $82.16 billion, a P/E ratio of 21.15, a P/E/G ratio of 5.43 and a beta of 0.15. Northrop Grumman Corporation has a 52-week low of $426.24 and a 52-week high of $576.86.
Northrop Grumman (NYSE:NOC - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $10.35 billion during the quarter, compared to analyst estimates of $10.15 billion. During the same period in the previous year, the firm earned $6.36 earnings per share. The business's revenue was up 1.3% on a year-over-year basis. Research analysts forecast that Northrop Grumman Corporation will post 28.05 EPS for the current fiscal year.
Northrop Grumman Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd were given a dividend of $2.31 per share. This represents a $9.24 annualized dividend and a dividend yield of 1.61%. This is a positive change from Northrop Grumman's previous quarterly dividend of $2.06. The ex-dividend date was Monday, June 2nd. Northrop Grumman's dividend payout ratio is presently 34.06%.
Wall Street Analyst Weigh In
NOC has been the topic of several analyst reports. Morgan Stanley boosted their price target 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. Barclays upped their target price on shares of Northrop Grumman from $500.00 to $580.00 and gave the stock an "equal weight" rating in a report on Tuesday. Bank of America boosted 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. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $542.00 price objective (down previously from $580.00) on shares of Northrop Grumman in a research note on Tuesday, July 8th. Finally, Sanford C. Bernstein reiterated a "market perform" rating on shares of Northrop Grumman in a 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $586.79.
Get Our Latest Report on Northrop Grumman
Insider Activity at Northrop Grumman
In related news, VP Robert J. Fleming sold 3,500 shares of the stock in a transaction that occurred 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 transaction, the vice president owned 1,827 shares in the company, valued at approximately $924,041.79. This represents a 65.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas H. Jones sold 729 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $505.77, for a total transaction of $368,706.33. Following the sale, the vice president directly owned 7,552 shares in the company, valued at $3,819,575.04. The trade was a 8.80% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,569 shares of company stock valued at $8,323,150. Company insiders own 0.23% of the company's stock.
Northrop Grumman Company Profile
(
Free Report)
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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