Northrop Grumman Co. (NYSE:NOC) Shares Bought by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC increased its stake in Northrop Grumman Co. (NYSE:NOC - Free Report) by 555.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,321 shares of the aerospace company's stock after acquiring an additional 3,662 shares during the period. Pallas Capital Advisors LLC's holdings in Northrop Grumman were worth $2,213,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Whipplewood Advisors LLC acquired a new position in shares of Northrop Grumman in the 4th quarter valued at $31,000. Wood Tarver Financial Group LLC purchased a new stake in Northrop Grumman during the fourth quarter valued at about $32,000. Bellwether Advisors LLC acquired a new stake in Northrop Grumman during the fourth quarter worth about $33,000. Stonebridge Financial Group LLC purchased a new position in shares of Northrop Grumman in the 4th quarter worth about $42,000. Finally, Rakuten Securities Inc. increased its position in Northrop Grumman by 291.7% during the 4th quarter. Rakuten Securities Inc. now owns 94 shares of the aerospace company's stock worth $44,000 after purchasing an additional 70 shares in the last quarter. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Stock Performance

Shares of NOC stock traded up $15.54 on Friday, hitting $512.67. 573,025 shares of the stock traded hands, compared to its average volume of 883,266. The company has a market capitalization of $73.79 billion, a PE ratio of 18.12, a PEG ratio of 3.73 and a beta of 0.14. The company's fifty day moving average is $490.46 and its 200 day moving average is $482.42. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. Northrop Grumman Co. has a 1-year low of $418.60 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 earnings per share for the quarter, missing analysts' consensus estimates of $6.33 by ($0.27). Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. The business had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $10.07 billion. On average, equities research analysts predict that Northrop Grumman Co. will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd will be paid a $2.31 dividend. This represents a $9.24 dividend on an annualized basis and a yield of 1.80%. This is a boost from Northrop Grumman's previous quarterly dividend of $2.06. The ex-dividend date is Monday, June 2nd. Northrop Grumman's dividend payout ratio (DPR) is presently 36.46%.

Analyst Ratings Changes

Several research firms have recently issued reports on NOC. The Goldman Sachs Group raised shares of Northrop Grumman from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $424.00 to $521.00 in a research report on Friday, April 11th. Argus upgraded Northrop Grumman to a "strong-buy" rating in a research note on Wednesday, February 26th. Truist Financial lowered their target price on Northrop Grumman from $600.00 to $550.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Susquehanna reduced their price target 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, UBS Group decreased their price target on Northrop Grumman from $583.00 to $571.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Nine 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 company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $545.31.

Insider Activity

In related news, VP Roshan S. Roeder sold 991 shares of Northrop Grumman 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 now directly owns 319 shares in the company, valued at $156,310. This trade represents a 75.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 1,090 shares of company stock valued at $533,853. 0.23% of the stock is currently owned by company insiders.

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.