First Heartland Consultants Inc. Takes $392,000 Position in Northrop Grumman Corporation (NYSE:NOC)

Key Points

• First Heartland Consultants Inc. invested approximately $392,000 in Northrop Grumman Corporation by acquiring 766 shares, indicating institutional interest in the aerospace firm's stock.
• Northrop Grumman's quarterly earnings report revealed earnings of $7.11 per share, surpassing analyst expectations and highlighting a 1.3% revenue increase year-over-year.
• The company announced a quarterly dividend increase from $2.06 to $2.31, representing an annualized dividend of $9.24 and a yield of 1.62%.

First Heartland Consultants Inc. purchased a new stake in Northrop Grumman Corporation (NYSE:NOC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 766 shares of the aerospace company's stock, valued at approximately $392,000.

Several other hedge funds have also made changes to their positions in the company. IMA Advisory Services Inc. purchased a new position in shares of Northrop Grumman during the 1st quarter worth approximately $27,000. Wood Tarver Financial Group LLC purchased a new position in shares of Northrop Grumman during the 4th quarter worth approximately $32,000. Bellwether Advisors LLC purchased a new position in shares of Northrop Grumman during the 4th quarter worth approximately $33,000. Hollencrest Capital Management boosted its position in shares of Northrop Grumman by 790.0% during the 1st quarter. Hollencrest Capital Management now owns 89 shares of the aerospace company's stock worth $45,000 after purchasing an additional 79 shares during the period. Finally, HWG Holdings LP purchased a new position in shares of Northrop Grumman during the 1st quarter worth approximately $46,000. Hedge funds and other institutional investors own 83.40% of the company's stock.

Insider Activity at Northrop Grumman

In related news, CEO Kathy J. Warden sold 7,500 shares of Northrop Grumman stock in a transaction on Friday, June 13th. The shares were sold at an average price of $505.77, for a total transaction of $3,793,275.00. Following the sale, the chief executive officer directly owned 201,602 shares in the company, valued at $101,964,243.54. This trade represents a 3.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Roshan S. Roeder sold 991 shares of Northrop Grumman stock in a transaction 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 sale, the vice president owned 319 shares in the company, valued at $156,310. This represents a 75.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,569 shares of company stock valued at $8,323,150 over the last quarter. 0.23% of the stock is owned by insiders.

Northrop Grumman Stock Up 0.2%

Shares of NOC traded up $1.04 during midday trading on Friday, reaching $569.52. The stock had a trading volume of 635,710 shares, compared to its average volume of 759,941. The company's fifty day simple moving average is $501.34 and its two-hundred day simple moving average is $490.94. Northrop Grumman Corporation has a 1-year low of $426.24 and a 1-year high of $576.86. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The company has a market cap of $81.54 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 5.40 and a beta of 0.15.

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, topping the consensus estimate of $6.84 by $0.27. Northrop Grumman had a net margin of 9.74% and a return on equity of 25.52%. The firm had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.15 billion. During the same period last year, the business earned $6.36 EPS. Northrop Grumman's revenue for the quarter was up 1.3% compared to the same quarter last year. Equities research analysts expect that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were paid a dividend of $2.31 per share. This is a positive change from Northrop Grumman's previous quarterly dividend of $2.06. This represents a $9.24 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend was Monday, June 2nd. Northrop Grumman's dividend payout ratio (DPR) is currently 34.06%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NOC. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Northrop Grumman in a research report on Monday, July 14th. Wells Fargo & Company reiterated an "overweight" rating on shares of Northrop Grumman in a report on Tuesday, July 22nd. Truist Financial reiterated a "buy" rating and set a $625.00 target price (up from $550.00) on shares of Northrop Grumman in a report on Wednesday. Royal Bank Of Canada increased their target price on shares of Northrop Grumman from $600.00 to $625.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Finally, Susquehanna increased their target price on shares of Northrop Grumman from $557.00 to $650.00 and gave the stock a "positive" rating in a report on Tuesday, July 22nd. Ten equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $576.67.

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.