Deutsche Bank AG Purchases 193,731 Shares of Northrop Grumman Corporation (NYSE:NOC)

Key Points

• Deutsche Bank AG increased its stake in Northrop Grumman by 54.1% during the first quarter, owning approximately 0.38% of the company valued at $282.67 million.
• Northrup Grumman recently raised its quarterly dividend from $2.06 to $2.31, reflecting a 1.6% yield with a payout ratio of 34.06%.
• The stock has seen recent price adjustment forecasts from various analysts, with target prices ranging from $521.00 to $625.00, maintaining a consensus rating of "Moderate Buy".

Deutsche Bank AG boosted its stake in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 54.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 552,069 shares of the aerospace company's stock after purchasing an additional 193,731 shares during the quarter. Deutsche Bank AG owned about 0.38% of Northrop Grumman worth $282,665,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Brookstone Capital Management lifted its position in Northrop Grumman by 121.0% during the 1st quarter. Brookstone Capital Management now owns 6,640 shares of the aerospace company's stock worth $3,400,000 after acquiring an additional 3,635 shares during the last quarter. GAM Holding AG grew its holdings in Northrop Grumman by 51.9% in the 1st quarter. GAM Holding AG now owns 2,338 shares of the aerospace company's stock valued at $1,197,000 after buying an additional 799 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Northrop Grumman during the first quarter worth approximately $33,090,000. Golden State Wealth Management LLC boosted its position in shares of Northrop Grumman by 206.2% in the first quarter. Golden State Wealth Management LLC now owns 2,771 shares of the aerospace company's stock valued at $1,421,000 after acquiring an additional 1,866 shares during the period. Finally, Bessemer Group Inc. grew its position in Northrop Grumman by 18.8% in the 1st quarter. Bessemer Group Inc. now owns 795,839 shares of the aerospace company's stock worth $407,477,000 after purchasing an additional 125,693 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company's stock.

Insiders Place Their Bets

In related news, VP Thomas H. Jones sold 729 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $505.77, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert J. Fleming sold 3,500 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $505.77, for a total transaction of $1,770,195.00. Following the sale, the vice president directly owned 1,827 shares in the company, valued at approximately $924,041.79. This represents a 65.70% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,536 shares of company stock valued at $8,306,857. 0.23% of the stock is owned by corporate insiders.

Northrop Grumman Price Performance

NYSE:NOC traded down $1.35 on Tuesday, reaching $578.89. The stock had a trading volume of 165,394 shares, compared to its average volume of 1,003,138. 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 company has a market capitalization of $82.89 billion, a P/E ratio of 21.33, a price-to-earnings-growth ratio of 5.51 and a beta of 0.15. Northrop Grumman Corporation has a 1-year low of $426.24 and a 1-year high of $594.68. The stock has a fifty day moving average price of $524.60 and a 200-day moving average price of $498.42.

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

Northrop Grumman Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd were paid a $2.31 dividend. 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 34.06%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NOC shares. Royal Bank Of Canada increased their target price on shares of Northrop Grumman from $600.00 to $625.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Barclays raised their price objective on Northrop Grumman from $500.00 to $580.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. JPMorgan Chase & Co. lifted their price objective on Northrop Grumman from $480.00 to $585.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Susquehanna upped their target price on Northrop Grumman from $557.00 to $650.00 and gave the company a "positive" rating in a research note on Tuesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $542.00 price target (down previously from $580.00) on shares of Northrop Grumman in a research note on Tuesday, July 8th. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $586.79.

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.