Geneos Wealth Management Inc. Acquires 1,916 Shares of Northrop Grumman Corporation (NYSE:NOC)

Key Points

• Geneos Wealth Management Inc. has significantly increased its stake in Northrop Grumman Corporation, purchasing an additional 1,916 shares, which brings their total holdings to 3,965 shares valued at approximately $2,030,000.
• Northrop Grumman recently declared a quarterly dividend of $2.31 per share, an increase from the previous dividend of $2.06, providing investors with an annualized yield of 1.61%.
• Research analysts have adjusted their price targets for Northrop Grumman, with Bank of America raising its target from $550 to $650 and several firms expressing a "buy" or "hold" rating after recent earnings reports showing strong performance.

Geneos Wealth Management Inc. raised its holdings in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 93.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,965 shares of the aerospace company's stock after purchasing an additional 1,916 shares during the period. Geneos Wealth Management Inc.'s holdings in Northrop Grumman were worth $2,030,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NOC. IMA Advisory Services Inc. bought a new position in Northrop Grumman during the 1st quarter valued at 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 grew its holdings 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 acquiring 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. Institutional investors own 83.40% of the company's stock.

Northrop Grumman Price Performance

NYSE:NOC traded up $10.52 on Friday, reaching $587.13. 1,006,403 shares of the company's stock traded hands, compared to its average volume of 778,934. 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 stock has a 50-day simple moving average of $511.60 and a 200-day simple moving average of $494.32. The firm has a market cap of $84.07 billion, a PE ratio of 21.64, a P/E/G ratio of 5.56 and a beta of 0.15. Northrop Grumman Corporation has a 12 month low of $426.24 and a 12 month high of $587.88.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.84 by $0.27. The firm had revenue of $10.35 billion for 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 business's revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.36 earnings per share. Equities research analysts forecast that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd were given a dividend of $2.31 per share. This represents a $9.24 annualized dividend 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 (DPR) is presently 34.06%.

Analyst Ratings Changes

NOC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on Northrop Grumman from $480.00 to $585.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Wells Fargo & Company reiterated an "overweight" rating on shares of Northrop Grumman in a report on Tuesday, July 22nd. Susquehanna raised their price objective on Northrop Grumman from $557.00 to $650.00 and gave the company a "positive" rating in a research report on Tuesday, July 22nd. Wall Street Zen lowered Northrop Grumman from a "buy" rating to a "hold" rating in a research report on Thursday, April 24th. Finally, Morgan Stanley raised 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. Ten equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Northrop Grumman has a consensus rating of "Moderate Buy" and a consensus target price of $586.79.

Insiders Place Their Bets

In related news, VP Roshan S. Roeder sold 991 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $490.00, for a total value of $485,590.00. Following the completion of the sale, the vice president owned 319 shares in the company, valued at approximately $156,310. The trade was a 75.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kathy J. Warden sold 7,500 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $505.77, for a total value of $3,793,275.00. Following the completion of the sale, the chief executive officer owned 201,602 shares of the company's stock, valued at $101,964,243.54. The trade was a 3.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,569 shares of company stock worth $8,323,150 over the last three months. 0.23% of the stock is currently owned by corporate insiders.

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.