Brookstone Capital Management Grows Stock Holdings in Northrop Grumman Corporation (NYSE:NOC)

Brookstone Capital Management raised its holdings in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 121.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,640 shares of the aerospace company's stock after buying an additional 3,635 shares during the quarter. Brookstone Capital Management's holdings in Northrop Grumman were worth $3,400,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Redhawk Wealth Advisors Inc. increased its holdings in shares of Northrop Grumman by 3.0% during the 1st quarter. Redhawk Wealth Advisors Inc. now owns 644 shares of the aerospace company's stock valued at $330,000 after purchasing an additional 19 shares in the last quarter. Salvus Wealth Management LLC increased its position in shares of Northrop Grumman by 1.5% during the first quarter. Salvus Wealth Management LLC now owns 1,349 shares of the aerospace company's stock worth $691,000 after purchasing an additional 20 shares in the last quarter. IAG Wealth Partners LLC increased its position in shares of Northrop Grumman by 8.4% during the first quarter. IAG Wealth Partners LLC now owns 271 shares of the aerospace company's stock worth $139,000 after purchasing an additional 21 shares in the last quarter. Bank Pictet & Cie Europe AG increased its position in shares of Northrop Grumman by 2.2% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company's stock worth $472,000 after purchasing an additional 22 shares in the last quarter. Finally, Keel Point LLC grew its position in shares of Northrop Grumman by 2.3% in the fourth quarter. Keel Point LLC now owns 1,069 shares of the aerospace company's stock valued at $502,000 after purchasing an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 83.40% of the company's stock.

Insider Transactions at Northrop Grumman

In related news, VP Thomas H. Jones sold 729 shares of Northrop Grumman stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $505.77, for a total transaction of $368,706.33. Following the completion of the sale, the vice president owned 7,552 shares in the company, valued at approximately $3,819,575.04. This trade represents a 8.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kathy J. Warden sold 7,500 shares of Northrop Grumman stock in a transaction dated 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 sale, the chief executive officer owned 201,602 shares of the company's stock, valued at approximately $101,964,243.54. This trade represents a 3.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,536 shares of company stock valued at $8,306,430. Company insiders own 0.23% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Wall Street Zen lowered shares of Northrop Grumman from a "buy" rating to a "hold" rating in a report on Thursday, April 24th. Truist Financial decreased their target price on Northrop Grumman from $600.00 to $550.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. The Goldman Sachs Group upgraded shares of Northrop Grumman from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $424.00 to $521.00 in a research note on Friday, April 11th. Morgan Stanley lifted their price objective on shares of Northrop Grumman from $580.00 to $625.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 16th. Finally, Royal Bank Of Canada decreased their price target on Northrop Grumman from $575.00 to $550.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Seven equities research 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $552.54.

Northrop Grumman Stock Performance

NOC traded up $2.96 on Monday, hitting $507.16. 132,425 shares of the company traded hands, compared to its average volume of 878,925. The company has a 50 day moving average of $486.97 and a 200-day moving average of $484.36. The company has a quick ratio of 0.84, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $72.99 billion, a PE ratio of 20.06, a PEG ratio of 5.51 and a beta of 0.15. Northrop Grumman Corporation has a 12-month low of $422.69 and a 12-month high of $555.57.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $6.06 EPS for the quarter, missing analysts' consensus estimates of $6.33 by ($0.27). The firm had revenue of $9.47 billion for the quarter, compared to analysts' expectations of $10.07 billion. Northrop Grumman had a return on equity of 25.46% and a net margin of 9.19%. Sell-side analysts anticipate 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 issued a $2.31 dividend. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend was Monday, June 2nd. This is an increase from Northrop Grumman's previous quarterly dividend of $2.06. Northrop Grumman's dividend payout ratio (DPR) is currently 36.46%.

Northrop Grumman 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.