Brooklyn Investment Group Has $806,000 Holdings in Northrop Grumman Corporation $NOC

Key Points

• Brooklyn Investment Group increased its stake in Northrop Grumman Corporation by 44.3% in Q1, bringing its total holdings to $806,000 as of the latest SEC filing.
• Several institutions, including Vanguard Group and Price T Rowe Associates, have also boosted their stakes in Northrop Grumman, indicating strong institutional interest in the company.
• Northrop Grumman recently declared a quarterly dividend of $2.31 per share, increasing from the previous $2.06, reflecting a growing commitment to returning capital to shareholders.

Brooklyn Investment Group boosted its stake in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 44.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,576 shares of the aerospace company's stock after buying an additional 484 shares during the period. Brooklyn Investment Group's holdings in Northrop Grumman were worth $806,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Northrop Grumman by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 13,266,301 shares of the aerospace company's stock valued at $6,792,479,000 after acquiring an additional 588,520 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Northrop Grumman by 28.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,030,644 shares of the aerospace company's stock valued at $952,962,000 after acquiring an additional 450,858 shares in the last quarter. Invesco Ltd. grew its stake in Northrop Grumman by 12.1% during the 1st quarter. Invesco Ltd. now owns 1,944,186 shares of the aerospace company's stock valued at $995,443,000 after acquiring an additional 210,506 shares in the last quarter. GAMMA Investing LLC grew its stake in Northrop Grumman by 55,522.3% during the 1st 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 in the last quarter. Finally, Northern Trust Corp grew its stake in Northrop Grumman by 10.4% during the 4th quarter. Northern Trust Corp now owns 1,251,050 shares of the aerospace company's stock valued at $587,105,000 after acquiring an additional 118,211 shares in the last quarter. Hedge funds and other institutional investors own 83.40% of the company's stock.

Insiders Place Their Bets

In other news, CEO Kathy J. Warden sold 7,500 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 transaction of $3,793,275.00. Following the completion of the transaction, the chief executive officer directly owned 201,602 shares in the company, valued at $101,964,243.54. The trade was a 3.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas H. Jones sold 729 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 $368,706.33. Following 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 disclosure for this sale can be found here. Insiders have sold 16,536 shares of company stock valued at $8,306,857 in the last three months. 0.23% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on NOC. Robert W. Baird lifted their target price on Northrop Grumman from $547.00 to $565.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their price target on Northrop Grumman from $480.00 to $585.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Barclays boosted their price target on Northrop Grumman from $500.00 to $580.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Bank of America boosted their price target on Northrop Grumman from $550.00 to $650.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, Truist Financial reissued a "buy" rating and issued a $625.00 price target (up previously from $550.00) on shares of Northrop Grumman in a research note on Wednesday, July 23rd. Ten analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Northrop Grumman has a consensus rating of "Moderate Buy" and an average price target of $586.79.

Northrop Grumman Stock Up 0.1%

Shares of Northrop Grumman stock opened at $584.02 on Monday. The stock has a market capitalization of $83.62 billion, a P/E ratio of 21.53, a PEG ratio of 5.59 and a beta of 0.15. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The stock has a 50 day moving average price of $532.08 and a two-hundred day moving average price of $501.05. Northrop Grumman Corporation has a 12-month low of $426.24 and a 12-month high of $594.68.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.84 by $0.27. The firm 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%. The company's revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.36 earnings per share. Equities analysts expect that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd were issued a dividend of $2.31 per share. 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. The ex-dividend date was Monday, June 2nd. Northrop Grumman's dividend payout ratio is presently 34.06%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.