Colonial River Investments LLC Purchases Shares of 711 Northrop Grumman Corporation (NYSE:NOC)

Colonial River Investments LLC acquired a new position in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 711 shares of the aerospace company's stock, valued at approximately $364,000.

Several other hedge funds also recently modified their holdings of NOC. Redhawk Wealth Advisors Inc. increased its holdings in 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 grew its holdings 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 during the last quarter. IAG Wealth Partners LLC increased its stake in shares of Northrop Grumman by 8.4% in the first quarter. IAG Wealth Partners LLC now owns 271 shares of the aerospace company's stock valued at $139,000 after buying an additional 21 shares in the last quarter. Bank Pictet & Cie Europe AG raised its holdings in shares of Northrop Grumman by 2.2% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company's stock valued at $472,000 after buying an additional 22 shares during the last quarter. Finally, Jacobi Capital Management LLC grew its holdings in Northrop Grumman by 1.2% during the 4th quarter. Jacobi Capital Management LLC now owns 1,987 shares of the aerospace company's stock worth $933,000 after acquiring an additional 23 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company's stock.

Insider Buying and Selling

In related news, VP Roshan S. Roeder sold 991 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $490.00, for a total transaction of $485,590.00. Following the completion of the sale, the vice president now directly owns 319 shares of the company's stock, valued at approximately $156,310. This represents a 75.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas H. Jones sold 729 shares of Northrop Grumman 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 now directly owns 7,552 shares in the company, valued at approximately $3,819,575.04. The trade was a 8.80% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,569 shares of company stock valued at $8,322,279. 0.23% of the stock is owned by company insiders.

Northrop Grumman Price Performance

Shares of NOC opened at $494.45 on Friday. The stock has a market cap of $71.17 billion, a P/E ratio of 19.51, a price-to-earnings-growth ratio of 5.39 and a beta of 0.14. Northrop Grumman Corporation has a 1 year low of $422.69 and a 1 year high of $555.57. The stock's 50-day moving average price is $484.86 and its two-hundred day moving average price is $483.43. The company has a current ratio of 0.95, a quick ratio of 0.84 and a debt-to-equity ratio of 0.95.

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

Northrop Grumman Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were given a $2.31 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.87%. This is a boost from Northrop Grumman's previous quarterly dividend of $2.06. Northrop Grumman's dividend payout ratio is currently 36.46%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. UBS Group dropped their target price on shares of Northrop Grumman from $583.00 to $571.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Susquehanna reduced their price objective on Northrop Grumman from $557.00 to $540.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Morgan Stanley increased their price objective on Northrop Grumman from $580.00 to $625.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th. Truist Financial dropped their target price on Northrop Grumman from $600.00 to $550.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company set a $525.00 price target on Northrop Grumman and gave the company an "overweight" rating in a report on Thursday, April 24th. Seven 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's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $552.54.

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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