Natixis Advisors LLC Purchases 15,557 Shares of Northrop Grumman Corporation (NYSE:NOC)

Key Points

• Natixis Advisors LLC increased its stake in Northrop Grumman Corporation by 24.5%, now holding 78,928 shares worth approximately $40.4 million as of the latest SEC filing.
• The company announced a quarterly dividend increase to $2.31, reflecting an annualized dividend of $9.24 and a dividend yield of 1.6%.
• Northrop Grumman recently reported earnings of $7.11 per share, exceeding analysts' expectations and indicating a year-over-year revenue growth of 1.3% to $10.35 billion.

Natixis Advisors LLC boosted its stake in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 24.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 78,928 shares of the aerospace company's stock after acquiring an additional 15,557 shares during the period. Natixis Advisors LLC owned about 0.05% of Northrop Grumman worth $40,412,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NOC. IMA Advisory Services Inc. acquired a new stake in Northrop Grumman during the first quarter worth about $27,000. Banque Cantonale Vaudoise acquired a new stake in Northrop Grumman during the first quarter worth approximately $30,000. Wood Tarver Financial Group LLC acquired a new stake in Northrop Grumman during the fourth quarter worth approximately $32,000. Bellwether Advisors LLC acquired a new position in shares of Northrop Grumman in the 4th quarter valued at $33,000. Finally, Hollencrest Capital Management increased its holdings in shares of Northrop Grumman by 790.0% in the 1st quarter. Hollencrest Capital Management now owns 89 shares of the aerospace company's stock valued at $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.

Northrop Grumman Stock Performance

NYSE NOC traded up $10.52 during trading hours on Friday, hitting $587.13. The company had a trading volume of 1,006,403 shares, compared to its average volume of 778,934. The firm has a market cap of $84.07 billion, a P/E ratio of 21.64, a price-to-earnings-growth ratio of 5.56 and a beta of 0.15. The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. Northrop Grumman Corporation has a fifty-two week low of $426.24 and a fifty-two week high of $587.88. The business has a fifty day simple moving average of $511.60 and a 200-day simple moving average of $494.47.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.84 by $0.27. Northrop Grumman had a return on equity of 25.52% and a net margin of 9.74%. The firm had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.15 billion. During the same period in the previous year, the company earned $6.36 earnings per share. Northrop Grumman's revenue was up 1.3% compared to the same quarter last year. Equities analysts predict that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd were paid a dividend of $2.31 per share. This is a boost from Northrop Grumman's previous quarterly dividend of $2.06. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.6%. Northrop Grumman's dividend payout ratio (DPR) is 34.06%.

Analyst Upgrades and Downgrades

Several brokerages have commented on NOC. UBS Group decreased their target price on shares of Northrop Grumman from $583.00 to $571.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $542.00 price objective (down previously from $580.00) on shares of Northrop Grumman in a research note on Tuesday, July 8th. Susquehanna upped their price objective on shares of Northrop Grumman from $557.00 to $650.00 and gave the company a "positive" rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. boosted their target price on Northrop Grumman from $480.00 to $585.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Finally, Robert W. Baird increased their price objective on shares of Northrop Grumman from $547.00 to $565.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $586.79.

Insider Transactions at Northrop Grumman

In other news, VP Thomas H. Jones sold 729 shares of Northrop Grumman stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $505.77, for a total transaction of $368,706.33. Following the sale, the vice president owned 7,552 shares of the company's stock, valued at approximately $3,819,575.04. This trade represents a 8.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Roshan S. Roeder sold 991 shares of Northrop Grumman stock in a transaction that occurred 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 sale, the vice president directly owned 319 shares in the company, valued at $156,310. The trade was a 75.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,569 shares of company stock valued at $8,323,150 over the last 90 days. Company insiders own 0.23% of the company's stock.

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.