Merit Financial Group LLC Raises Stock Position in Northrop Grumman Co. (NYSE:NOC)

Merit Financial Group LLC boosted its position in Northrop Grumman Co. (NYSE:NOC - Free Report) by 90.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,663 shares of the aerospace company's stock after purchasing an additional 3,167 shares during the period. Merit Financial Group LLC's holdings in Northrop Grumman were worth $3,412,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. NBC Securities Inc. bought a new position in shares of Northrop Grumman during the first quarter valued at $324,000. Baker Tilly Wealth Management LLC increased its stake in shares of Northrop Grumman by 32.0% in the first quarter. Baker Tilly Wealth Management LLC now owns 1,852 shares of the aerospace company's stock valued at $948,000 after buying an additional 449 shares during the period. Czech National Bank lifted its stake in shares of Northrop Grumman by 5.2% in the first quarter. Czech National Bank now owns 31,253 shares of the aerospace company's stock worth $16,002,000 after acquiring an additional 1,558 shares during the period. Rhumbline Advisers increased its position in Northrop Grumman by 3.2% during the 1st quarter. Rhumbline Advisers now owns 255,665 shares of the aerospace company's stock valued at $130,903,000 after purchasing an additional 8,009 shares during the period. Finally, Fifth Third Wealth Advisors LLC raised its holdings in Northrop Grumman by 31.3% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,738 shares of the aerospace company's stock worth $890,000 after purchasing an additional 414 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company's stock.

Insider Transactions at Northrop Grumman

In related news, VP Roshan S. Roeder sold 991 shares of Northrop Grumman 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 completion of the transaction, the vice president now directly owns 319 shares in the company, valued at approximately $156,310. The trade was a 75.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 1,057 shares of company stock worth $517,733 over the last quarter. Corporate insiders own 0.23% of the company's stock.

Northrop Grumman Stock Performance

Shares of NOC stock traded up $1.43 during trading on Friday, hitting $489.55. The company's stock had a trading volume of 372,436 shares, compared to its average volume of 890,392. Northrop Grumman Co. has a 52 week low of $418.60 and a 52 week high of $555.57. The company has a market cap of $70.46 billion, a PE ratio of 17.27, a P/E/G ratio of 3.73 and a beta of 0.14. The business has a fifty day moving average of $491.51 and a 200-day moving average of $482.46. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96.

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 return on equity of 26.24% and a net margin of 10.17%. The company had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $10.07 billion. As a group, research analysts anticipate that Northrop Grumman Co. will post 28.05 earnings per share for the current year.

Northrop Grumman Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Monday, June 2nd will be paid a $2.31 dividend. This is a boost from Northrop Grumman's previous quarterly dividend of $2.06. This represents a $9.24 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Monday, June 2nd. Northrop Grumman's payout ratio is currently 36.46%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NOC. Citigroup lifted their target price on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a "buy" rating in a research note on Monday, February 10th. Wells Fargo & Company set a $525.00 price target on Northrop Grumman and gave the company an "overweight" rating in a research note on Thursday, April 24th. Royal Bank of Canada cut their target price on shares of Northrop Grumman from $575.00 to $550.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. UBS Group reduced their target price on Northrop Grumman from $583.00 to $571.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Susquehanna decreased their target price on Northrop Grumman from $557.00 to $540.00 and set a "positive" rating for the company in a research report on Wednesday, April 23rd. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $545.31.

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.