Invesco LLC Boosts Stock Holdings in Northrop Grumman Corporation (NYSE:NOC)

Invesco LLC boosted its stake in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 7.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,325 shares of the aerospace company's stock after purchasing an additional 512 shares during the period. Northrop Grumman makes up approximately 1.5% of Invesco LLC's holdings, making the stock its 15th largest position. Invesco LLC's holdings in Northrop Grumman were worth $3,750,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in Northrop Grumman by 176.3% during the fourth quarter. Brighton Jones LLC now owns 2,970 shares of the aerospace company's stock valued at $1,394,000 after purchasing an additional 1,895 shares during the period. Bank Pictet & Cie Europe AG increased its holdings in Northrop Grumman by 2.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company's stock worth $472,000 after acquiring an additional 22 shares in the last quarter. Global Retirement Partners LLC raised its stake in Northrop Grumman by 11.5% during the 4th quarter. Global Retirement Partners LLC now owns 947 shares of the aerospace company's stock worth $444,000 after acquiring an additional 98 shares during the period. Transcend Capital Advisors LLC lifted its holdings in Northrop Grumman by 4.4% during the fourth quarter. Transcend Capital Advisors LLC now owns 645 shares of the aerospace company's stock valued at $303,000 after purchasing an additional 27 shares in the last quarter. Finally, Olympiad Research LP boosted its position in shares of Northrop Grumman by 24.0% in the fourth quarter. Olympiad Research LP now owns 578 shares of the aerospace company's stock worth $271,000 after purchasing an additional 112 shares during the period. Hedge funds and other institutional investors own 83.40% of the company's stock.

Insider Activity

In related news, VP Thomas H. Jones sold 729 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $505.77, for a total value of $368,706.33. Following the completion of the transaction, the vice president now directly owns 7,552 shares in the company, valued at approximately $3,819,575.04. This represents a 8.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Roshan S. Roeder sold 991 shares of the stock in a transaction 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 transaction, the vice president now owns 319 shares of the company's stock, valued at approximately $156,310. This represents a 75.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,569 shares of company stock worth $8,322,279 over the last ninety days. Corporate insiders own 0.23% of the company's stock.

Northrop Grumman Stock Performance

Northrop Grumman stock traded down $15.77 during trading hours on Tuesday, hitting $483.90. 928,622 shares of the stock traded hands, compared to its average volume of 881,362. The firm's 50 day moving average price is $488.63 and its 200-day moving average price is $483.14. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.84. The stock has a market capitalization of $69.65 billion, a price-to-earnings ratio of 19.10, a P/E/G ratio of 5.43 and a beta of 0.14. Northrop Grumman Corporation has a 1 year low of $422.69 and a 1 year high of $555.57.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $6.06 EPS for the quarter, missing the consensus estimate of $6.33 by ($0.27). Northrop Grumman had a net margin of 9.19% and a return on equity of 25.46%. The business had revenue of $9.47 billion for the quarter, compared to analyst estimates of $10.07 billion. As a group, equities analysts expect that Northrop Grumman Corporation will post 28.05 EPS for the current fiscal 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 issued a dividend of $2.31 per share. This is a positive change from Northrop Grumman's previous quarterly dividend of $2.06. The ex-dividend date was Monday, June 2nd. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.91%. Northrop Grumman's dividend payout ratio is presently 36.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NOC shares. Wells Fargo & Company set a $525.00 price target on Northrop Grumman and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Morgan Stanley lifted their target price on Northrop Grumman from $580.00 to $625.00 and gave the stock an "overweight" rating in a report on Wednesday, April 16th. UBS Group lowered their price objective on shares of Northrop Grumman from $583.00 to $571.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Susquehanna cut their target price on Northrop Grumman from $557.00 to $540.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. Finally, Argus raised shares of Northrop Grumman to a "strong-buy" rating in a research report on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $553.43.

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.