Northrop Grumman Corporation (NYSE:NOC) Shares Acquired by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Northrop Grumman by 1.7%, acquiring an additional 14,365 shares, bringing its total ownership to approximately 0.59%, valued at $433,584,000.
• Several hedge funds have recently made significant changes to their positions in Northrop Grumman, including Brighton Jones LLC increasing its holdings by 176.3% in the fourth quarter.
• Northrop Grumman announced a quarterly dividend of $2.31 per share, up from the previous dividend of $2.06, marking a positive change in shareholder returns.

Charles Schwab Investment Management Inc. boosted its holdings in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 1.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 846,828 shares of the aerospace company's stock after purchasing an additional 14,365 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.59% of Northrop Grumman worth $433,584,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Citizens Financial Group Inc. RI grew its position in shares of Northrop Grumman by 53.1% during the 1st quarter. Citizens Financial Group Inc. RI now owns 13,156 shares of the aerospace company's stock worth $6,736,000 after buying an additional 4,562 shares in the last quarter. Roberts Glore & Co. Inc. IL grew its position in shares of Northrop Grumman by 58.5% during the 1st quarter. Roberts Glore & Co. Inc. IL now owns 1,125 shares of the aerospace company's stock worth $576,000 after buying an additional 415 shares in the last quarter. Tidemark LLC grew its position in shares of Northrop Grumman by 64.6% during the 1st quarter. Tidemark LLC now owns 163 shares of the aerospace company's stock worth $84,000 after buying an additional 64 shares in the last quarter. Exencial Wealth Advisors LLC grew its position in shares of Northrop Grumman by 2.5% during the 1st quarter. Exencial Wealth Advisors LLC now owns 4,975 shares of the aerospace company's stock worth $2,547,000 after buying an additional 120 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Northrop Grumman by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 13,266,301 shares of the aerospace company's stock worth $6,792,479,000 after buying an additional 588,520 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors.

Northrop Grumman Stock Down 1.0%

NYSE NOC traded down $6.09 during trading hours on Friday, hitting $581.29. 749,424 shares of the company were exchanged, compared to its average volume of 876,217. The company has a 50 day moving average of $522.66 and a two-hundred day moving average of $497.85. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. Northrop Grumman Corporation has a 52-week low of $426.24 and a 52-week high of $594.68. The firm has a market cap of $83.23 billion, a price-to-earnings ratio of 21.43, a PEG ratio of 5.51 and a beta of 0.15.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share for the quarter, topping the consensus estimate of $6.84 by $0.27. Northrop Grumman had a return on equity of 25.52% and a net margin of 9.74%. The company had revenue of $10.35 billion for the quarter, compared to the consensus estimate of $10.15 billion. During the same quarter in the prior year, the business earned $6.36 EPS. Northrop Grumman's revenue was up 1.3% on a year-over-year basis. Equities research analysts anticipate that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Increases Dividend

The firm also recently disclosed 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 1.6%. The ex-dividend date 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 34.06%.

Insiders Place Their Bets

In related news, CEO Kathy J. Warden sold 7,500 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 $3,793,275.00. Following the transaction, the chief executive officer owned 201,602 shares in the company, valued at $101,964,243.54. This trade represents a 3.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 value of $368,706.33. Following the transaction, the vice president owned 7,552 shares in the company, valued at $3,819,575.04. This represents a 8.80% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,536 shares of company stock worth $8,306,857. Insiders own 0.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on NOC shares. Sanford C. Bernstein reiterated a "market perform" rating on shares of Northrop Grumman in a research note on Monday, July 14th. Susquehanna lifted their target price on shares of Northrop Grumman from $557.00 to $650.00 and gave the stock a "positive" rating in a research note on Tuesday, July 22nd. Wall Street Zen cut shares of Northrop Grumman from a "buy" rating to a "hold" rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. raised their price objective on Northrop Grumman from $480.00 to $585.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Finally, Barclays lifted their target price on Northrop Grumman from $500.00 to $580.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Ten analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Northrop Grumman has an average rating of "Moderate Buy" and an average target price of $586.79.

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.