L & S Advisors Inc Grows Position in Northrop Grumman Corporation (NYSE:NOC)

Key Points

• L & S Advisors Inc has increased its stake in Northrop Grumman by 238.8% in the first quarter, now owning 19,788 shares worth $10.13 million.
• Northrop Grumman's recent earnings report showed $7.11 EPS, exceeding analysts' estimates, along with a revenue of $10.35 billion for the quarter.
• The company announced a dividend increase to $2.31 per share, up from $2.06, representing an annual dividend yield of 1.6%.

L & S Advisors Inc increased its stake in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 238.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,788 shares of the aerospace company's stock after purchasing an additional 13,948 shares during the quarter. Northrop Grumman makes up about 1.3% of L & S Advisors Inc's portfolio, making the stock its 16th largest holding. L & S Advisors Inc's holdings in Northrop Grumman were worth $10,132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. IMA Advisory Services Inc. bought a new position in Northrop Grumman during the first quarter worth $27,000. Banque Cantonale Vaudoise purchased a new position in Northrop Grumman during the first quarter worth about $30,000. Wood Tarver Financial Group LLC purchased a new stake in Northrop Grumman during the fourth quarter worth about $32,000. Bellwether Advisors LLC bought a new stake in Northrop Grumman in the fourth quarter worth about $33,000. Finally, Hollencrest Capital Management raised its position in Northrop Grumman by 790.0% in the first 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. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Roshan S. Roeder sold 991 shares of the business's stock in a transaction dated 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 approximately $156,310. The trade was a 75.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas H. Jones sold 729 shares of the business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $505.77, for a total value of $368,706.33. Following the sale, the vice president owned 7,552 shares in the company, valued at $3,819,575.04. The trade was a 8.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,536 shares of company stock worth $8,306,857 over the last ninety days. 0.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Robert W. Baird lifted their target price on shares of Northrop Grumman from $547.00 to $565.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Barclays lifted their target price 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. Sanford C. Bernstein restated a "market perform" rating on shares of Northrop Grumman in a report on Monday, July 14th. Morgan Stanley upped their price target on shares of Northrop Grumman from $580.00 to $625.00 and gave the company an "overweight" rating in a report on Wednesday, April 16th. Finally, Truist Financial reissued a "buy" rating and set a $625.00 price objective (up from $550.00) on shares of Northrop Grumman in a research report on Wednesday, July 23rd. Ten investment analysts have rated the stock with a hold rating, eight have assigned 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 an average price target of $586.79.

Northrop Grumman Trading Up 0.1%

Shares of NYSE:NOC traded up $0.77 on Tuesday, hitting $590.52. 335,335 shares of the company's stock were exchanged, compared to its average volume of 1,010,544. Northrop Grumman Corporation has a 12 month low of $426.24 and a 12 month high of $594.68. The stock has a market capitalization of $84.55 billion, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 5.56 and a beta of 0.15. The business's 50 day simple moving average is $513.99 and its two-hundred day simple moving average is $495.32. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93.

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

Northrop Grumman Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd were paid a $2.31 dividend. This represents a $9.24 annualized dividend and a 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 payout ratio is presently 34.06%.

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.