Axxcess Wealth Management LLC Increases Stock Holdings in Northrop Grumman Corporation (NYSE:NOC)

Axxcess Wealth Management LLC lifted its stake in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 61.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,001 shares of the aerospace company's stock after buying an additional 1,142 shares during the period. Axxcess Wealth Management LLC's holdings in Northrop Grumman were worth $1,537,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Wood Tarver Financial Group LLC bought a new stake in Northrop Grumman during the fourth quarter worth $32,000. Bellwether Advisors LLC bought a new stake in Northrop Grumman during the fourth quarter worth $33,000. HWG Holdings LP bought a new stake in Northrop Grumman during the first quarter worth $46,000. Wayfinding Financial LLC bought a new stake in Northrop Grumman during the first quarter worth $47,000. Finally, Rakuten Securities Inc. raised its stake in shares of Northrop Grumman by 291.7% in the fourth quarter. Rakuten Securities Inc. now owns 94 shares of the aerospace company's stock valued at $44,000 after buying an additional 70 shares during the period. Hedge funds and other institutional investors own 83.40% of the company's stock.

Northrop Grumman Stock Up 1.3%

Shares of NYSE:NOC opened at $514.35 on Friday. The firm has a market capitalization of $74.03 billion, a P/E ratio of 20.30, a P/E/G ratio of 5.55 and a beta of 0.15. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.84 and a current ratio of 0.95. The stock has a 50 day moving average price of $488.87 and a 200-day moving average price of $485.25. Northrop Grumman Corporation has a 52-week low of $424.66 and a 52-week high of $555.57.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.33 by ($0.27). The firm had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $10.07 billion. Northrop Grumman had a return on equity of 25.46% and a net margin of 9.19%. As a group, equities research analysts anticipate that Northrop Grumman Corporation will post 28.05 EPS for the current fiscal year.

Northrop Grumman Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were paid a dividend of $2.31 per share. The ex-dividend date was Monday, June 2nd. This represents a $9.24 annualized dividend and a yield of 1.80%. This is a positive change from Northrop Grumman's previous quarterly dividend of $2.06. Northrop Grumman's payout ratio is presently 36.46%.

Analysts Set New Price Targets

Several brokerages have issued reports on NOC. Wall Street Zen lowered Northrop Grumman from a "buy" rating to a "hold" rating in a research note on Thursday, April 24th. Wells Fargo & Company set a $525.00 price target on Northrop Grumman and gave the company an "overweight" rating in a research report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $542.00 price target (down from $580.00) on shares of Northrop Grumman in a research report on Tuesday. Morgan Stanley lifted their price target on Northrop Grumman from $580.00 to $625.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th. Finally, Royal Bank Of Canada reduced their price target on Northrop Grumman from $575.00 to $550.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $550.00.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Thomas H. Jones sold 729 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $505.77, for a total transaction of $368,706.33. Following the completion of the transaction, the vice president owned 7,552 shares of the company's stock, valued at approximately $3,819,575.04. This trade represents a 8.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robert J. Fleming sold 3,500 shares of the company'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 value of $1,770,195.00. Following the completion of the sale, the vice president owned 1,827 shares in the company, valued at $924,041.79. The trade was a 65.70% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,569 shares of company stock worth $8,323,150. Insiders own 0.23% of the company's stock.

About Northrop Grumman

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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