Mirae Asset Global Investments Co. Ltd. Acquires 1,549 Shares of Northrop Grumman Corporation (NYSE:NOC)

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 9.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,850 shares of the aerospace company's stock after purchasing an additional 1,549 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Northrop Grumman were worth $9,143,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NOC. GAMMA Investing LLC boosted its stake in Northrop Grumman by 55,522.3% in the 1st quarter. GAMMA Investing LLC now owns 1,520,158 shares of the aerospace company's stock worth $778,336,000 after purchasing an additional 1,517,425 shares during the period. Capital International Investors increased its stake in Northrop Grumman by 5.9% in the 4th quarter. Capital International Investors now owns 8,239,434 shares of the aerospace company's stock worth $3,866,133,000 after purchasing an additional 461,307 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Northrop Grumman by 28.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,030,644 shares of the aerospace company's stock worth $952,962,000 after purchasing an additional 450,858 shares during the period. First Trust Advisors LP increased its stake in Northrop Grumman by 337.1% in the 4th quarter. First Trust Advisors LP now owns 482,112 shares of the aerospace company's stock worth $226,250,000 after purchasing an additional 371,814 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Northrop Grumman in the 4th quarter worth approximately $171,580,000. Institutional investors own 83.40% of the company's stock.

Insider Transactions at Northrop Grumman

In other Northrop Grumman news, VP Robert J. Fleming sold 3,500 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 transaction of $1,770,195.00. Following the completion of the sale, the vice president owned 1,827 shares of the company's stock, valued at approximately $924,041.79. The trade was a 65.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Roshan S. Roeder sold 991 shares of the business's stock in a transaction dated 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 $156,310. This represents a 75.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,569 shares of company stock worth $8,322,279 in the last three months. 0.23% of the stock is owned by insiders.

Northrop Grumman Stock Up 0.7%

Shares of NOC stock traded up $3.54 during mid-day trading on Tuesday, hitting $503.52. The company's stock had a trading volume of 651,245 shares, compared to its average volume of 877,803. Northrop Grumman Corporation has a 52-week low of $422.69 and a 52-week high of $555.57. The business has a 50-day moving average price of $484.26 and a 200 day moving average price of $483.58. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.84 and a current ratio of 0.95. The stock has a market cap of $72.47 billion, a price-to-earnings ratio of 19.87, a PEG ratio of 5.39 and a beta of 0.14.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share for the quarter, missing the consensus estimate of $6.33 by ($0.27). Northrop Grumman had a return on equity of 25.46% and a net margin of 9.19%. The business had revenue of $9.47 billion during the quarter, compared to analysts' expectations of $10.07 billion. Research analysts predict that Northrop Grumman Corporation will post 28.05 EPS for the current fiscal year.

Northrop Grumman Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were given a dividend of $2.31 per share. This represents a $9.24 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend was Monday, June 2nd. This is a boost from Northrop Grumman's previous quarterly dividend of $2.06. Northrop Grumman's dividend payout ratio is 36.46%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NOC shares. Morgan Stanley lifted their price objective on Northrop Grumman from $580.00 to $625.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 16th. Royal Bank Of Canada dropped their price target on Northrop Grumman from $575.00 to $550.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Wall Street Zen lowered Northrop Grumman from a "buy" rating to a "hold" rating in a research report on Thursday, April 24th. The Goldman Sachs Group upgraded Northrop Grumman from a "sell" rating to a "neutral" rating and lifted their price target for the company from $424.00 to $521.00 in a research report on Friday, April 11th. Finally, Wells Fargo & Company set a $525.00 price target on Northrop Grumman and gave the company an "overweight" rating in a research report on Thursday, April 24th. Seven 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $552.54.

About Northrop Grumman

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.