Chicago Partners Investment Group LLC Has $1.87 Million Position in Northrop Grumman Corporation $NOC

Key Points

• Chicago Partners Investment Group LLC significantly increased its holdings in Northrop Grumman Corporation by 349.6%, owning 3,732 shares worth $1.87 million as of their latest SEC filing.
• Several research analysts have raised their price targets for Northrop Grumman, with Morgan Stanley setting it at $720.00 and Susquehanna at $650.00, reflecting a strong outlook for the stock.
• Northrop Grumman reported quarterly earnings of $7.11 per share, exceeding expectations, and declared a dividend of $2.31 per share, showcasing a 1.5% yield.

Chicago Partners Investment Group LLC boosted its holdings in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 349.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,732 shares of the aerospace company's stock after buying an additional 2,902 shares during the period. Chicago Partners Investment Group LLC's holdings in Northrop Grumman were worth $1,866,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NOC. IMA Advisory Services Inc. acquired a new stake in Northrop Grumman during the first quarter worth $27,000. Saudi Central Bank bought a new position in shares of Northrop Grumman during the first quarter valued at $28,000. Banque Cantonale Vaudoise bought a new position in shares of Northrop Grumman during the first quarter valued at $30,000. Flaharty Asset Management LLC bought a new position in shares of Northrop Grumman during the first quarter valued at $36,000. Finally, Hollencrest Capital Management lifted its holdings in shares of Northrop Grumman by 790.0% during the first quarter. Hollencrest Capital Management now owns 89 shares of the aerospace company's stock valued at $45,000 after acquiring an additional 79 shares during the period. Institutional investors and hedge funds own 83.40% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Susquehanna lifted their price objective on Northrop Grumman from $557.00 to $650.00 and gave the company a "positive" rating in a report on Tuesday, July 22nd. Morgan Stanley lifted their price objective on Northrop Grumman from $625.00 to $720.00 and gave the company an "overweight" rating in a report on Wednesday, October 15th. Royal Bank Of Canada lifted their price objective on Northrop Grumman from $600.00 to $625.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. lifted their price objective on Northrop Grumman from $480.00 to $585.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Finally, Truist Financial upped their price target on shares of Northrop Grumman from $625.00 to $688.00 and gave the stock a "buy" rating in a research report on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $617.50.

Northrop Grumman Trading Up 1.2%

NOC opened at $601.92 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $86.18 billion, a PE ratio of 22.19, a PEG ratio of 5.78 and a beta of 0.10. Northrop Grumman Corporation has a 1-year low of $426.24 and a 1-year high of $640.90. The firm has a 50-day moving average price of $592.91 and a two-hundred day moving average price of $538.16.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its quarterly earnings data 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. 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 quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the business posted $6.36 EPS. As a group, equities analysts anticipate that Northrop Grumman Corporation will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $2.31 per share. This represents a $9.24 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. Northrop Grumman's payout ratio is currently 34.06%.

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.

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