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HB Wealth Management LLC Buys 666 Shares of Northrop Grumman Corporation (NYSE:NOC)

Northrop Grumman logo with Aerospace background

Key Points

  • HB Wealth Management LLC increased its stake in Northrop Grumman Corporation by 11.3% during Q1, owning 6,535 shares valued at approximately $3.3 million.
  • Several analysts have updated their ratings on Northrop Grumman, including Goldman Sachs upgrading to a "neutral" rating and raising the price target to $521, while Susquehanna set a target of $650 with a "positive" rating.
  • The company's latest quarterly earnings report revealed an earnings per share (EPS) of $7.11, exceeding estimates, with revenue of $10.35 billion, growing by 1.3% year-over-year.
  • Five stocks we like better than Northrop Grumman.
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HB Wealth Management LLC raised its holdings in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 11.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,535 shares of the aerospace company's stock after purchasing an additional 666 shares during the quarter. HB Wealth Management LLC's holdings in Northrop Grumman were worth $3,346,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. IMA Advisory Services Inc. bought a new stake in Northrop Grumman during the 1st quarter valued at $27,000. Wood Tarver Financial Group LLC bought a new stake in Northrop Grumman during the 4th quarter valued at $32,000. Bellwether Advisors LLC bought a new stake in Northrop Grumman during the 4th quarter valued at $33,000. Hollencrest Capital Management increased its stake in Northrop Grumman by 790.0% during the 1st quarter. Hollencrest Capital Management now owns 89 shares of the aerospace company's stock valued at $45,000 after purchasing an additional 79 shares in the last quarter. Finally, HWG Holdings LP bought a new stake in Northrop Grumman during the 1st quarter valued at $46,000. Institutional investors own 83.40% of the company's stock.

Northrop Grumman Stock Performance

Shares of NYSE:NOC traded down $1.00 during midday trading on Monday, reaching $568.74. The company had a trading volume of 679,562 shares, compared to its average volume of 759,941. The stock has a market cap of $81.43 billion, a P/E ratio of 20.96, a P/E/G ratio of 5.40 and a beta of 0.15. Northrop Grumman Corporation has a 52-week low of $426.24 and a 52-week high of $576.86. The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The company's 50 day moving average price is $503.30 and its 200 day moving average price is $491.71.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.11 EPS for the quarter, beating the consensus estimate of $6.84 by $0.27. The business had revenue of $10.35 billion for the quarter, compared to the consensus estimate of $10.15 billion. Northrop Grumman had a net margin of 9.74% and a return on equity of 25.52%. The company's revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.36 earnings per share. As a group, sell-side analysts anticipate that Northrop Grumman Corporation will post 28.05 EPS for the current fiscal year.

Northrop Grumman Increases Dividend

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

Analysts Set New Price Targets

A number of analysts have commented on NOC shares. Wells Fargo & Company restated an "overweight" rating on shares of Northrop Grumman in a research note on Tuesday, July 22nd. Royal Bank Of Canada lifted their price objective 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. Susquehanna set a $540.00 price objective on shares of Northrop Grumman and gave the stock a "positive" rating in a report on Tuesday, July 22nd. Robert W. Baird lifted their price objective on shares of Northrop Grumman from $547.00 to $565.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $542.00 price objective (down from $580.00) on shares of Northrop Grumman in a report on Tuesday, July 8th. Ten equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $569.33.

Check Out Our Latest Research Report on NOC

Insider Buying and Selling

In other Northrop Grumman news, CEO Kathy J. Warden sold 7,500 shares of the 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 $3,793,275.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Roshan S. Roeder sold 991 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $490.00, for a total value of $485,590.00. Following the sale, the vice president directly owned 319 shares of the company's stock, valued at approximately $156,310. This trade represents a 75.65% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,569 shares of company stock valued at $8,323,150. Corporate insiders own 0.23% of the company's stock.

Northrop Grumman Profile

(Free Report)

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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Institutional Ownership by Quarter for Northrop Grumman (NYSE:NOC)

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