Drive Wealth Management LLC Takes Position in Northrop Grumman Corporation $NOC

Key Points

• Drive Wealth Management LLC acquired a new stake in Northrop Grumman Corporation, purchasing 1,052 shares valued at approximately $526,000 during the second quarter.
• Northrop Grumman recently reported $10.35 billion in revenue for the last quarter, surpassing estimates, with an earnings per share (EPS) of $7.11, above the consensus estimate of $6.84.
• The company announced a quarterly dividend of $2.31 per share, representing an annual yield of 1.5% and a dividend payout ratio of 34.06%.

Drive Wealth Management LLC purchased a new stake in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,052 shares of the aerospace company's stock, valued at approximately $526,000.

A number of other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC lifted its position in shares of Northrop Grumman by 176.3% in the fourth quarter. Brighton Jones LLC now owns 2,970 shares of the aerospace company's stock worth $1,394,000 after purchasing an additional 1,895 shares in the last quarter. Bison Wealth LLC grew its position in Northrop Grumman by 5.3% during the fourth quarter. Bison Wealth LLC now owns 641 shares of the aerospace company's stock valued at $301,000 after purchasing an additional 32 shares in the last quarter. GAMMA Investing LLC increased its stake in Northrop Grumman by 8.6% in the 1st quarter. GAMMA Investing LLC now owns 2,969 shares of the aerospace company's stock valued at $1,520,000 after buying an additional 236 shares during the period. Avior Wealth Management LLC lifted its position in Northrop Grumman by 12.6% in the 1st quarter. Avior Wealth Management LLC now owns 860 shares of the aerospace company's stock worth $440,000 after buying an additional 96 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of Northrop Grumman by 0.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 20,361 shares of the aerospace company's stock valued at $10,425,000 after buying an additional 119 shares during the period. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Northrop Grumman Stock Up 1.2%

Shares of NOC stock opened at $601.92 on Tuesday. The stock's 50 day simple moving average is $592.91 and its 200 day simple moving average is $538.16. Northrop Grumman Corporation has a twelve month low of $426.24 and a twelve month high of $640.90. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The company has a market capitalization of $86.18 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 5.78 and a beta of 0.10.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 EPS for the quarter, beating 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 last year, the company posted $6.36 earnings per share. The company's revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, research analysts predict that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Northrop Grumman in a research note on Tuesday, October 14th. Susquehanna upped their target price on Northrop Grumman from $557.00 to $650.00 and gave the stock a "positive" rating in a research report on Tuesday, July 22nd. Deutsche Bank Aktiengesellschaft set a $700.00 price target on Northrop Grumman and gave the stock a "buy" rating in a research note on Wednesday, October 8th. Sanford C. Bernstein boosted their price target on Northrop Grumman from $630.00 to $674.00 and gave the company a "market perform" rating in a research note on Monday. Finally, Barclays raised their price objective on shares of Northrop Grumman from $500.00 to $580.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $617.50.

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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